What is Wills Writing ?

What is Will Writing ?Will Writing In Malaysia - An Introduction -Will writing in Malaysia is becoming more popular as the Malaysian public become aware of its importance to their family.Many people don't realize the problems their family have to go though if they die without leaving a Will. Among the problems faced is a much longer estate distribution process, more legal fees incurred and possible family hardship.The worst case scenario that can happen is that your family will not have sufficient money to carry out the normal living expenses. This is because the law in Malaysia freezes all a person funds including those in savings account, FD, investment of any sort until a Letter of Administration or Grant of Probate is issued for such money to be unfrozen.The whole process to get the Letter of Administration or Grant of Probate can more than a year. In the mean time, bank loans, car loans and other living expenses need to be paid. This is where a gap exist that many people overlook. With a valid Will, it shortens the process considerable for family members to access the funds.Will writing in Malaysia can help reduce the potential family fights that can occur when people wrangle over the properties of the deceased. Those who have seen such unpleasant situation normally are wise to the necessity of writing a Will.Recent tragedies like September 11 and tsunami have also awaken Malaysians to the fact of our own mortality. Thus it is no longer taboo to mentioned Will writing among the younger generation.For the older generation, there is still some reservation when it comes to Will writing. It is only normal in such situations when we are forced to think about our existance.Will Writing OptionsThere are a few options when it comes to Will writing in Malaysia. Traditionallylawyers are the most common person to write a Will, Nowadays, professional Will writers are becoming common and people prefer to have them write their Will.This is because :-fees charged are reasonablethey offer ideas and suggestion to better distribute estate, taking minors andother situation into consideration safe keeping of Willsreminder services to update Will when there are significant changesalso trustee services - managing assets over time for beneficiariesThey provide a comprehensive services from the beginning when one writes a Will to the end where the Estate is distributed. For lawyers, there are areas where they don't provide such services.Need more information email us at rtheng@gmail.comCost of writing Your Will : -1) Trust Nomination Service Application RM10One time Distribution Fee upon demise of 0.15%On the Total Value Of thethe SettlorTrust Fund to be Distributed2) Will Writing fee (Public, Non-Mutual Gold)standard Will which costs RM450One time Distribution Fee upon demise of20% of the Distribution Fee chargeablethe customer on the distribution of the customers estate( NB: PBTSB chargesDistribution Fee of 1% on estateof the first RM1 million and 0.5% for estate exceeding RM1 million )