Will & Trust
At Choo & Lee Advocates & Solicitors, we offer comprehensive legal services tailored to your needs. Our expertise covers conveyancing, corporate law, and dispute resolution, ensuring reliable and effective legal solutions for individuals and businesses. Explore our practice areas to learn how we can assist you.
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Why Estate Planning Matters
In Malaysia, many people assume that their assets will automatically be passed on to their family after their passing. However, without a will, your estate will be distributed according to the Distribution Act 1958, which may not align with your actual wishes and could even lead to family disputes. Therefore, drafting a will or setting up a trust in advance is crucial to ensuring your assets are distributed according to your intentions while minimizing legal complications.
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Why Create a Will or Trust?
✅ Avoid Legal Disputes
Without a will, family members may argue over asset distribution, leading to lengthy and costly legal battles.
✅ Secure Your Family’s Future
A will clearly specifies who will inherit your assets, ensuring financial security for your loved ones. Trusts can also provide long-term asset management, particularly for minors or family members with special needs.
✅ Speed Up the Estate Administration Process
A will allows your appointed executor to quickly apply for a Grant of Probate, facilitating the distribution of your estate. Without a will, heirs must apply for Letters of Administration, a process that can take a year or longer.
✅ Decide How Your Assets Are Distributed
Without a will, your estate will be distributed according to default legal provisions. For example, if a married individual passes away, their spouse, children, and parents will each receive a share. However, this may not reflect your personal wishes.
✅ Reduce Tax and Debt Implications
Proper estate planning can help minimize inheritance taxes or outstanding debts, ensuring a smooth transfer of assets to your beneficiaries.
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At Choo & Lee, we specialize in estate planning, wills, and trusts, ensuring that your assets are well-protected and distributed as per your wishes. Contact us today for expert legal guidance!
