What is a will?

A Will is an essential part of planning for the future.

A Will is a document that designates how you wish your property will be distributed among your family relatives, friends or charities upon your demise.

Your Will is also the document where you will identify people for important roles such as guardian, executor, trustees and etc.

A Will may contain a Trust especially if you have minor children.

The main difference between a Will and a Trust is that the Trust can take effect while you are living and no application to court is needed to give effect to it while you are alive or deceased.

Whereas a Will only takes effect upon your death and an application to court for Probate is necessary.

Why is a will so important?

  • Only a properly written and up to date Will can guarantee that your instructions will be known and followed after your death.
  • It is legal record of your wishes.
  • If you do not write a Will, the state law DISTRIBUTION ACT 1958 determines what happens to your wealth which may not be consistent to your wishes and goals
  • To ensure your wishes will be carried out it is imperative that you write a WILL.

Who needs to set up a Trust and/or write a Will?

  • Anyone who has assets or come into assets and has loved ones and/or dependents needs to set up a Trust or prepare a Will.
  • Perpetual Trustees also offers Syariah compliance Trust Account for the Muslims

What can I do if the deceased has not made a Will or a Trust?

  • We will take away all your hassle and trouble of applying for Letter of Administration and the distribution of your assets.
  • Our experience in this area will not only save your time and money but we will relieve you of a great responsibility and stress in the administration of your entire estate.
  • s for the administration of Muslim estate, Perpetual Trustees will administer these in accordance with Syariah Law.

Can a Will override a nomination made in Insurance Policy or EPF?

No, A Will cannot over the nomination made in the Insurance Policy or EPF.

What is the difference between Living Will and Living Trust?

A Living Will is a legal document that a person uses to make known his/her wishes regarding life prolonging medical treatments and it is illegal in Malaysia. A Living Trust created during your lifetime takes effect during your lifetime, upon death or when any eventuality arises.