Why You Must Write a Will? | Estate Planning in Malaysia | Rockwills Will Writing
There are only two thing certain in life which is Tax and Death.
Every year we have to declared and deal with our tax as it’s required by the law but it seem nobody is interested in possibility of death – that is, his or her own death. This is maybe because it was claimed to be a taboo subject especially in Chinese community.
All of us work so hard to make money and it’s equally important to take time planning ahead with a proper estate planning. One of the good way of doing estate planning is by creating a Will.
It’ll help to avoid any frustrations, delay, legal conflicts, family disputes, extra cost and stress when the assets of the deceased is distributed.
It’s not true that their assets will automatically go to their immediate family members when they pass away. Your family may even facing a long long delay in obtaining their rightful inheritance.
What is Will?
Formal definition:
A Will is a declaration made by a testator, in the form prescribed by law, as to how his assets is to be distributed when he pass away.
If the person making a Will is a man, he is called the testator ; and if a woman, a testatrix.
The Will authorizes an executor(a man) or an executrix(a woman) to collect assets, pay off debts and divide the property according to the wishes of the deceased as stated in the Will.
It layman definition(term):
A Will is a legal document in which you declare your wishes for your loved ones and how to distribute your hard-earned assets after you pass on.
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Since death is a taboo subject, many have the impression that Will is only written by people who are dying soon, very old or have a lot of assets.
This’s totally not true as everyone need to write a Will.
Your assets will be frozen and your family may have difficulties accessing it if sudden death occur without any Will.
The Court then will dictates under Distribution Act on who shall inherit your assets should you pass on without a Will.
They may even will have to fight for their right in court if disarrangement occur especially in a complex legal battles. I’m sure you don’t want this thing to happen to you, right?
I urge you not wait anymore in writing a Will because by having a Will, you can provide for your beneficiaries in the manner you prefer instead of letting the laws decide. This will definitely spare your spouse/survivors from unnecessary heartache, emotional stress and extra expense in the future.
A Will is also a wonderful way to express your love for your family.
I highly recommend you to not to delay writing a Will anymore. Why not do it today to enjoy the benefits.
One of the company that provide Professional Will-Writing Service is Rockwills Corporation Sdn Bhd. They are the pioneer Company to provide personalized Professional Will-Writing and Professional Custody Services with a paid-up capital of RM5 million. Their core business is providing Professional Will-Writing, Professional Will Custody and Trust Services from Rockwills Trustee Berhad through the appointment of Professional Estate Planner based on a franchise format.