6 Reasons To Make A Will
Most Asians do not like to approach the subject of death. It is considered a taboo subject. Hence, the thought of writing a Will is far from the minds of most Asians as it deals with the things after death. However, based on the cases I’ve come across in my legal practice, I’ve seen many families (next-of-kin) of those who died without a Will but leaving assets going through a stressful period of trying to administer the Estate of the deceased. It is usually through such an experience that the surviving members deem it important that they write their own Will for the benefit of those whom they are living behind. There are many good reasons why one should consider writing a Will. I have 6 good reasons for you as follows.
A Will only takes effect upon the death of the Testator (the person who makes the Will). This allows the Testator to change his Will as many times as he wishes during his lifetime. He may change his mind about how he wants his assets to be dealt with and distributed and the flexibility of changing Wills allows this to be done.
A Will allows the Testator to protect his assets and his beneficiaries. In the absence of a Will, the assets of a deceased will be dealt with according to the Distribution Act 1958 (for West Malaysians and Sarawakians who are non-muslims. It does not apply to natives of Sarawak) and Intestate Succession Ordinance 1960 (Sabahans – except muslims and natives). A Will allows the Testator to decide who should benefit from his Estate and in what proportions. This ensures that the people he wishes to protect are indeed protected upon his death. For Muslims, however, Syariah law applies.
A Will minimizes the hassles for the beneficiaries. With a Will, the Executors whom the Testator appointed in his Will can immediately file for a Probate from the High Court of Malaya. The Will would have stated all the assets of the Testator and how it should be distributed and administered. Without a Will, some fact finding exercise would have to be spent by the next-of-kin of the deceased to find out the assets and to find a willing administrator. There is no doubt that the latter is a more cumbersome and stressful exercise.
A Will is more than just property disposal. A Testator can even provide in his Will a guardian for his children who are of minor age and how his assets are to be used during the lifetime of his children. He can even instruct his Executor to take steps to invest his assets for the benefit of his children. Imagine what happens if both parents of a pre-schooler were to die in a road accident and both did not make a Will. Who will be in charge of the child’s welfare? How would the parent’s assets be used for the benefit of the child? This is one example of a case which I came across a couple of years back.
A Will does not cost much. In fact, anybody can make a Will provided he is aware of the form and conditions which make a Will valid. Alternatively, you can consult a lawyer or professional will writer to assist you. Charges usually start from RM300 onwards depending on the complexity of the Will. It is a small sum to pay for peace of mind of the Testator and his beneficiaries.
A Will ensures that the Testator chooses people he trusts to handle his affairs after his demise. You don’t simply trust anyone to handle your affairs, especially if it has to do with your assets and making sure that these assets get distributed according to your wishes to your beneficiaries. By making a Will, you choose the people (called Executors) who would do just that.
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5 Responses to “6 Reasons To Make A Will”
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Just to add on to the list, a Will is able to avoid disputes amongst family members.
Hope you Will remember me, when you make your Will. haha!
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Do you mean that I could actually draft a legal will if I knew the proper format and words to use?
I’m thinking of doing this, but I don’t know where to get started.
Eddie : Yes, that’s true. But I would usually advise my clients to at least give a dollar to immediate family members which the Testator does not wish to Will anything to.
Adino : Yes, you can draft your own Will. It would be legal provided you have placed all the important ingredients inside. But really, it’s pretty cheap to have one drafted by a professional – lawyer or will writer.
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