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Cost of making a Will
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benzxzx
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May 28 2024, 10:06 AM
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Getting Started

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QUOTE(N9484640 @ May 25 2024, 08:19 PM) I tried 2 lawyers, and one agent from rockwill, all failed to do a Will for me. The agent wanted like RM1700 which is too much. The 2 lawyers decided not to do for me. I just wanted a simple 2 tiers Will. No need to specify anything, just movable and unmovable assets all campur in. I wonder if anyone here uses those online will thing like Maybank, Thy Will Be Done, etc? What was your experience? If you got lawyers to recommend, also can. mbb one usually provides will writing and have those service fees factored into the housing loan itself, needless to say the fees will be inflated to make it worth their while, last i checked it is around 1.5k, if you are klang valley based, I can provide such service to you as a practicing lawyer for 500 all inclusive, and all I need from you is details of testator, beneficiary and I will gather witnesses, sign and return you the sealed will in time.
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benzxzx
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May 28 2024, 10:09 AM
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Getting Started

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QUOTE(Chiggah @ May 25 2024, 07:41 PM) If someone unrelated to me, is it better to add my name to this persons property? Costs about rm5-6k to add name. Or write a will ? bro will is will, and only take effect upon your passing. adding name means essentially you transfer the ownership of property, if you add one name meaning transfer half share of yours to the other half, and yeah you can only do it during your lifetime. let me know your property details, I am able to give a quote for such transfer service, MOT but if its not to spouses, or children, then bear in mind there might be stamp duty imposed, so your cost goes up
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benzxzx
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May 28 2024, 11:21 PM
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Getting Started

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QUOTE(ycs @ May 28 2024, 11:13 PM) since you're a lawyer, is it cheaper to transfer property to children via a will or to transfer to children when still alive? yes i sure am. for sure will is cheaper as we dont have inheritance tax here so if you pass on your child basically get to inherit the prop for free, just need to pay nominal stamp duty and obtain the grant of probate, whereas for transfer during lifetime, there will be imposition of stamp duty, which is calculated based on value of your prop and divide by half since kasih sayang transfer got partial waiver.
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benzxzx
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May 29 2024, 10:16 AM
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Getting Started

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QUOTE(dogbert_chew @ May 29 2024, 10:01 AM) Depends on the list of assets/ properties and whether the are local or overseas. Can ask benzxzx since he is answering questions here pro bono publico yes dogbert is on point, if theres overseas assets in the picture, the grant of probate might need to be resealed in overseas jurisdiction to proceed with subsequent transfer, so there are more costs involved, if its strictly local, probate cost ranges from 4-5k, and transmission fees which will attract legal fees that is chargeable based on the prop value, and land office disbursement, one thing about probate and turun milik is that it wont be slapped with stamp duty advalorem. you just pay 10 nominal for the MOT.
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