QUOTE(acbc @ Nov 29 2024, 01:24 PM)
Trust is much more expensive than a will. If irrevocable than mampusInherit now or will?
Inherit now or will?
|
|
May 21 2025, 12:40 PM
Return to original view | IPv6 | Post
#1
|
![]()
Newbie
13 posts Joined: Feb 2013 |
|
|
|
May 21 2025, 12:54 PM
Return to original view | IPv6 | Post
#2
|
![]()
Newbie
13 posts Joined: Feb 2013 |
QUOTE(ruben7389 @ Jan 3 2025, 06:17 PM) This is the spot on answer. Seen too many times, compared to transfers with no issues Never ever give children the roof over your head till death, no matter how filial they can be. My elderly friend had to look after another elderly couple whose precious son abandoned the parents and ran off to Australia after getting a chunk of money from the father's CPF on the pretext of doing business. And I had to accompany my elderly friend to the couple's house to get his friend to witness a will that he made as I insisted that I must be presence in person as I am also a witness to sign the will together. Bloody old friend will all his properties to his adopted son and none to me Worst thing is kids will sell it then leave the parents without a home also. Then say nvmd U come stay with me then make the parents become their maid and do all the housework. That's if lucky. If unlucky then sell the house and block the parents number. Totally seen this too many times and everyone if them will say before the transfer that it will never happen to them as they are decent human beings and not like the rest Then after transfer, they become like the rest. And worst when their spouses get involved |
|
|
May 21 2025, 01:16 PM
Return to original view | IPv6 | Post
#3
|
![]()
Newbie
13 posts Joined: Feb 2013 |
QUOTE(takeshikitamura @ Jan 2 2025, 04:42 PM) Oh, if your mum wants to transfer the property now, she can transfer it directly to one of the siblings. But make sure she’s in good health and all the documents are in order. For the transfer, there’s usually a stamp duty involved, about 1% of the property value. So, if the property is worth RM1M, it would be around RM10k per property. Make a will before the mother becomes not lucid. I went to see a lawyer to make a will for my aunty who was 90yo. The lawyer wanted my aunty to see a doctor for a certification. But that's troublesome. But the lawyer was kind enough to give me a sample will and told to diy with witnesses. And I did DIY for my aunt and her son as both were tenants in common.If you decide to do a will instead, it's more flexible, but since your siblings don’t have Malaysian citizenship, they’d need to go through additional legal steps in court, which can incur extra costs. There’s still stamp duty involved, but the process is longer and potentially more expensive. If you're looking to minimize costs, transferring the property now might be the better option. But if you want to plan long-term and ensure fairness, doing a will is also fine. Just make sure all the paperwork is correct to avoid problems later. Disclaimer: Opinions expressed are solely my own and do not express the views or opinions of my employer. All views expressed on this site are my own and do not represent the opinion of any entity whatsoever with which I have been, am now, or will be affiliated. This is a personal blog - not a peer-reviewed journal or a sponsored publication. We make no representation as to accuracy, correctness, completeness, suitability, or validity of any information on this site and will not be liable for any errors, omissions, or delays in this information or any losses injuries, or damage arising from its display use. This is not a recommendation to participate, buy, sell, subscribe, purchase, any goods, services, entity mentioned. Any action that you took and/or may take as a result of the information, analysis, experience, opinion, commentary, or knowledge on this blog is ultimately your responsibility, It is the reader's responsibility to verify their own facts. I brought my elderly father 80+ to HDB office (public housing in Sg) to remove his name from a flat held jointly with my sis. Not only one officer, but another 2 officers were called into the room to witness the proposed transaction to ensure that my father knows exactly what he is doing. Later years I brought my father to see another lawyer to draft a will to will his flat to me. My father was hard of hearing and after a few questions, the lawyer decided that my father was in no position to make a will. There goes his property paid solely by me and I have 5 siblings. |
| Change to: | 0.0131sec
0.34
6 queries
GZIP Disabled
Time is now: 25th November 2025 - 04:50 AM |