Here's the breakdown of asset distribution timeline:
1. With WILL:
- Grant of Probate - 6 months
- Asset Collection - 3 to 12 months
- Payment to IRB and creditors - 3 to 18 months
- Distribution to beneficiaries - between 2 to 3 years

2. Without WILL
- Letters of Administration - Estimate 1 to 3 years
- Asset Collection - 3 to 12 months
- Advertise in the Gazette to notify the creditors - 2 months
- Distribution to Beneficiaries - between 3 to 7 years

Alternatively, if you want save all the hassle and time, you may create a Trust from Trustee companies and it is the only way to avoid Probate and to be able to distribute your assets to your designated beneficiaries with immediate effect (1 to 2 weeks) but it usually comes with annual fees.

Sharing services for drafting a Will, covers customisation of additional clauses for required unforeseen circumstances.

If interested, can view on main post:
https://forum.lowyat.net/topic/4635673

No additional charges on all sorts of reimbursements, claims, stationary costs, transport..etc. Definitely affordable.

This post has been edited by shiocarl: Aug 11 2018, 02:46 PM

Hi, is it better to have the service providers, i.e., rockwills, maybank trustee, rhb trustee as sole executor for my wills or best to nominated one of my beneficiaries as executors? pro and cons for each option?

Nominate your beneficiary then put corporate executor/trustee as last option.

To save on the estate administration charges?

A question here. When i wrote my will my son wasnt 18 yet, so put a trustee. Now that he has turned 18, do i need to amend the will?

My will hv this condition spelled.
"Until they attain the age of majority".

So I believe this "appointment of guardian" clause will automatically void when the beneficiary attained that age.

This post has been edited by MUM: Aug 7 2024, 12:20 PM

(I appointed my niece and the sister of my spouse as joint executors and trustees of my Will).

The will has this condition spelled out, ....

"If either or both of them shall not survive or unable or unwilling to act as the executor(s) and trustee(s) of this Will, then I do hereby appoint (name and address of a trust company), to be the sole executor and trustee of this Will.

*** jfi, the named trust company is the one that prepared my will and also the one paid to keep it too.

So I guess it was not due to cost that I also appointed that trust company (as a back up) to be executor and trustee of my Will, BUT as a mitigation for just in case, my appointed executors and trustees (from my family members) is "unable" or "unwilling" or "died"

Oic, I better go check mine. Thks. 👍🏻

one of the wills writing service provider informed me the estate administrative process will take 1-1.5 years for simple estate case like mine? Need to take so long?

My assets are not complicate with only a house, share trading/ unit trust investment accounts, vehicle and some banks accounts.

Pejabat tanah is not as efficient as we like.

How long do you have to file probate after death in Malaysia.

Why Does Probate Take So Long?


https://simrahman.com/estate-planning-lawye...frame-malaysia/

This post has been edited by MUM: Aug 7 2024, 05:12 PM

You can consider going through Pusaka Kecil (provided that your total assets are less than RM 2 million.

I did it when my father passed away. Took around 6 months from the submission to get the property, motorcycle and money from bank account.

No need will or lawyer. Everything DIY but the officier at Pusaka Kecil were very helpful in telling where to get all the docs. The only issue is without a will, you need to kaotim with the other people who also has rights to the assets and state how the assets are to be distributed.

Normally, if the person is married, the spouse, children and the parents are eligible to get a stake on the assets.

Hope someone can provide feedback on this.

In my will, I have granted my beneficiary to have all my securities/investments listed on the Securities Exchange of Bursa Malaysia.

Does this mean, only those securities from direct CDS counted? How about those with platforms like MooMoo?

Not a legally qualified comment.

Just that, i think it could be challenged.

I think it "can be" better if it is phrased like this.
Example from your above condition.
Just add "including and not limited to"

"I have granted my beneficiary to have all my securities/investments including and not limited to those listed on the Securities Exchange of Bursa Malaysia.

Like if you only state in your Will that you will "will" all your properties in Malaysia to Xxx.

If later the beneficiary or other eligible families members found out that you also hv properties overseas then how?

This post has been edited by MUM: Aug 8 2024, 11:25 PM