A will is a legally binding document that outlines the distribution of a testator's estate. It allows the testator to specify the allocation of their assets, appoint an executor, designate beneficiaries and trustees, and determine the respective shares of the estate distribution.
1) Executor
The executor is tasked with administering the will and ensuring the distribution of assets aligns with the provisions specified in the will.
The executor must be at least 18 years of age.
If the will includes beneficiaries who are under the age of 18, a minimum of two executors must be appointed.
An executor can also be named as a Beneficiary in the will.
2) Beneficiary
A beneficiary is an individual entitled to inherit the estate as specified in the will.
A beneficiary can be anyone, including the testator's spouse, parents, children, relatives, or friends.
A beneficiary cannot act as a Witness to the will.
3) Witness
A witness is responsible for witnessing the execution of the will.
A will requires a minimum of two witnesses.
Witnesses must sign on the will to confirm that they have witnessed the testator signing the document.
4) Trustee
A trustee is appointed to temporarily hold or manage the testator's estate until specific conditions are met, after which the assets are transferred to the beneficiary.
These conditions may include:
The beneficiary reaching the age of 18.
The beneficiary getting married.
The beneficiary completing their bachelor's degree.
Certain conditions are imposed by law, while others can be determined by the testator.
5) Does a Will Need to Be Stamped?
No, a will does not need to be stamped.
6) How Does a Will Take Effect After the Testator Passes Away?
Upon the testator's death, the executor must engage a lawyer to file an application at the High Court for a Grant of Probate.
Once the Grant of Probate is obtained, the executor is responsible for distributing the testator's estate in accordance with the will. This may include tasks such as:
Applying to the bank to withdraw funds.
Facilitating property transfers and distributions.
7) What Happens If I Pass Away Without a Will?
If you pass away without a will, your estate will be distributed according to the Distribution Act 1958. Beneficiaries or creditors may apply through the following avenues:
a) Small Estate Distribution Section (JKPTG)
Applications are submitted to the Land Office's Small Estate Division to obtain a Letters of Administration (Surat Kuasa Mentadbir) (Form F) and Distribution Order (Perintah Pembahagian) (Form E/T).
The estate must include immovable property.
The total estate value must not exceed RM2 million.
The deceased must not have a will.
The process may take up to 1 year.
b) Amanah Raya
Amanah Raya is a government-owned public trustee company.
The estate must not include immovable property.
The total estate value must not exceed RM600,000.
The deceased must not have a will.
Fees are charged based on a percentage of the estate value.
The process may take up to 1 year.
c) High Court
A lawyer files an application to the High Court for Letters of Administration (LA) and subsequently files an application for Distribution Order (DO).
With these documents, the appointed administrator can manage the estate through relevant authorities/departments.
There are no restrictions on the type of assets.
The process would be faster, usually completing in approximately 4 months.
Should you have further inquiries about
the Last Will & Testament in Malaysia or require legal consultation
Last Will & Testament Malaysia
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