Shocking Facts If You Should Die Without A Will

Shocking Facts If You Should Die Without A Will

# The Law takes over

court_gavelOnce a person died intestate (without a will) the estate will be distributed accordingly to the strict Malaysian Law (the Distribution Act 1958) which may not be as you would wish and this could cause considerable financial hardship to your family and sometimes the loss of money to your dependents who need it most and at the worst possible time.

# Letter of Administration (LA) are required

letter-of-admistatrationIf you died intestate, a  letter of Administration is required for the administration of your estate, an administrator needs to be appointed to manage your estate and distribute them according to the law. To qualify as an administrator, the person (beneficiary or otherwise) must get all the consents of all the beneficiaries before he/she can act as the administrator. The means the beneficiaries must renounce their rights to be the administrator. Therefore the administrator may not be the person of your choice.

# Costly delays in the administration of your estate.

headacheThe application for a LA is a long process because
*There may be difficulties in deciding on the appointment of the administrators as beneficiaries may not agree to the choice. This may result in a long legal tussle.

*An Administration Bond must be provided by two sureties…..
*Risk of absconment
*No protection for partners, stepchildren and aged relatives

If You Do Nothing, The Law Will Do It For You!

For example:
If Mr. A passes away without a will, leaving behind his wife, surviving father, 5 brothers and sisters, and 3 children, the Distribution Act 1958 (Amended in 1997) shall follow the Act as illustrated in the diagram below:”


distribution-act-1958-amended-in-1977-example

Without a Will what is yours will not be yours until the court decides.  It is not about what you have but who you care for!!!

Translate »