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 Have you written your WILL?

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Oracles99
post Jul 24 2014, 10:41 PM

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If you do not own any business, it is easy to write yr own will. Everything is straightforward. I wrote my own will. But make sure the witnesses to your will are those who are easy to locate when you pass away.

The introductory part is mostly the same:
IDENTIFICATION
This is the last Will of me,....................... (IC No:.......) of ................(Address)

REVOCATION
I revoke all previous Wills and Testamentary documents made by me.

EXECUTOR APPOINTMENT
I appoint my wife ..........(IC NO. ) of ..............in the State of ........, Malaysia To be the Executor(s) of this my Will and Trustee(s) of my Estate.
If my wife predecease me or are unable or unwilling to fulfill this role then, I appoint ...............(IC NO.......) of .......... in the State of .........., Malaysia as Executor and Trustee of my Estate.

SPECIFIC BEQUESTS
I make the following special bequest:-
To my son ........ (IC NO. ............) of ...............in the State of .... Malaysia, I leave free of all costs my house at ..............., Malaysia.

RESIDUAL ESTATE
I hereby leave the residue of my estate, both personal and real, subject to other provisions in this Will and after payment of my debts, funeral and administrative expenses associated with this Will
To my wife, ........ (IC No ............) and to my daughter .........(IC No...) in equal shares

OTHERS
IF any of the abovementioned beneficiaries shall die, the surviving beneficiary(ries) shall be entitled in equal shares and free of all cost to the respective shares in my estate including my residual estate that the deceased beneficiary would have taken PROVIDED THAT the surviving beneficiary is alive at the time of distribution of my estate.

ATTESTATION OF WILL

Dated this day of in the year

Signature of Will-maker ______________________________________________

Signed by the Will-maker as his/her last Will in the presence of both of us being present at his/her request at the same time and in the presence of each other and the Will-maker, hereunto subscribe our names as Witnesses.

Signature of Witness Signature of Witness

----------------------------------- -------------------------
Full name : Full Name :
IC No : IC No :
Date of Birth : Date of Birth :
Address : Address :

Occupation :
Date :



-----------------------------------
Full name :
IC No :
Date of Birth :
Address :

Occupation :
Date :

* the executor can be a beneficiary of the will*
* the beneficiary cannot be a witness to the will *

This is a simple will for those who does not own any business. If you do own business, then it is advisable to consult a lawyer.
Many people change their will often as a will can go out of date due to new developments in life.

I have acted as an executor of my parents estate & I know that if your beneficiaries are not able to locate both the witnesses, your will is not valid.

If you have a will, yr beneficiaries does not need any guarantor.

*** By the way, this will is for those whose children has already attain the age of 18 years as there is no clause for the appointment of guardians.

This post has been edited by Oracles99: Jul 24 2014, 10:46 PM
Oracles99
post Jul 24 2014, 10:57 PM

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For those who have children below the age of 18 years, there is a need to insert the Guardian clause.

GUARDIANSHIP
After the death of both myself and my wife ............, it is my desire and if the Law permits my sister ............ shall be the guardian of any of my children whose age at the time of distribution of my estate shall still be under 18 years.

TRUSTEE POWERS
I hereby empower my Trustee to manage and invest (as the Trustee thinks fit)
any property due to a minor beneficiary under this Will for the education,
maintenance and benefit of that Beneficiary.

** if you wish to appoint yr sister as a guardian, then put her as an executor as well.

This post has been edited by Oracles99: Jul 24 2014, 11:02 PM
Oracles99
post Jul 24 2014, 11:07 PM

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With a valid Will, yr executor should approach a lawyer to apply for "Grant of Probate" in the High Court. With this document, the executor can transfer all the assets of the deceased to the beneficiaries.



 

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