Friday, 12 July 2019

Johor Bahru Lawyer - Cons For Having A Last Will And Testament

The importance of having a Last Will and Testament is no longer a new thing in the public.

But a deeper consideration is needed before to prepare a last will and testament because a last will and testament could sometimes bring troubles to the beneficiaries if the following is unavoidable:-

  1. executor is uncooperative; 
  2. tussle among beneficiaries if distribution is not proportionate;
  3. which country to execute the last will and testament of deceased that involving overseas assets;
  4. whether every country can accept distribution of the immovable properties stated in the Last Will and testament of the Deceased that had been prepared and signed in Malaysia;
  5. land title deed of the deceased is missing or untraceable;
  6. not all assets of the deceased can be traced;
  7. executors do not willing to share the costs to execute the will of deceased; 
  8. hefty cost incurred when inheritance involved beneficiary who is foreigner; or 
  9. extra cost incurred once the deceased’s last will and testament has omitted some of his or her assets
More costs and lengthy court procedure will be involved if a last will and testament is not well drafted

Therefore an alternative could be doing an outright transfer instead of having a last will and testament.

An unorganised or non-constructive last will and testament could bring trouble instead of benefit the beneficiaries.

Three key points to think about prior making decision to prepare a last will and testament:-

1) practicable;
2) Impact; and
3) cost

Any question feel free to contact us
0167889176 (William)

We are your Johor Bahru Lawyer

No comments:

Post a comment

YOUR ENQUIRY

Name

Email *

Message *