Wills and Estate Administration
Who can make a will?
What
would constitute a will?
What is the effect of not having a valid will?
Who should I name as Executor/Executrixes of my will?
Can I later alter or change my will?
Can nominations under the EPF or insurance policies be
revoked by a will or codicil?
Who Can Make a
Will?
Any person who has attained the age
of majority (In Malaysia, it's 18), of sound mind and has personal
assets he/she wishes to dispose of after his/her death. A person who
makes a will is referred to as the testator in the will.
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What would
constitute a will?
A valid will has to be in writing
and executed in the manner provided for under the Wills Act, 1959
except for privileges wills of soldiers, airmen and sailors for whom
informal directions even in a letter or by word of mouth will suffice.
All wills must be clear and identifies the testator, executor(s) or
executrix(es), various types of property and the beneficiaries. The
testator has to sign or place his thumbprint at the foot or end of the
will and the signing has to be witnessed by 2 competent witnesses
(these witnesses cannot benefit from the will). If the testator is
blind or illiterate or is incapable of understanding the will, the
will must be read over and explained to him/her before he/she signs or
places his/her thumbprint on the will. Anything added after the
signature of the testator shall invalid the will.
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What is the effect of not having a valid will?
When a deceased does not have a
valid will, it would be a case of intestacy. The estate shall vest in
the official administrator. The administrator has to obtain a grant of
Letter of Administration from the High Court in order to act on the
behalf of the estate. Without the grant, the administrator has no
authority to act on behalf of the estate. The distribution of the
estate would be governed by the Distribution (Amendment) Act 1997 or
if the deceased is a Muslim, the distribution would be governed by
Islamic law.
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Who should I name as Executor/Executrixes of my will?
The role of Executor or Executix is to act on behalf
of the estate of the deceased and to dispose of the personal assets of
the deceased in accordance to the will. He or she should be someone
who is trust-worthy and responsible. In many cases, it is usually a
family member of the deceased. He or she can also be one of the
beneficiaries under the will.
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Can
I later alter or change my will?
After the will is signed, any
alterations or amendments can be made by way of codicil. The codicil
will become part of the will and the formalities required are similar
as making a valid will. Alternatively, a person can make another will
to revoke his previous will. In such a case, the revocation clause
must be added at the beginning of the will.
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Can nominations under the EPF or insurance policies be
revoked by a will or codicil?
No. Revocation in such cases can
only be done by filling in the prescribed forms under the relevant
act. The money under the EPF or the proceeds under the insurance
policies will not form part of the estate. However, if the insurance
policy is taken out by the deceased for his/her own benefit, the
proceeds will form part of the estate.
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