The Employee’s Provident Fund (EPF) is a compulsory savings scheme for Malaysian workers, designed to ensure financial security in retirement. When an EPF member passes away, the funds are distributed to the nominees listed by the member. However, complications can arise if one of the beneficiaries predeceased the EPF member. Question 1: Can the...
Have you ever wondered what happens to your assets and property after you pass away especially when it is intestate? In this article, we will delve into the complexities of joint bank accounts, explore recent cases, and discuss the importance of estate planning in ensuring your assets are distributed according to your wishes. Case...
In the realm of estate planning, testamentary trusts serve as powerful tools to ensure the smooth transfer of assets to minor beneficiaries according to the wishes and arrangement of the settlor. In Malaysia, testamentary trusts provide individuals with the flexibility and control they desire over the distribution of their assets. To ensure a testamentary trust...
Making a Will is like setting up a roadmap for what happens to your assets after you pass away. But for foreigners residing or possessing assets in Malaysia, a pressing question arises: Can foreigners write a Will in Malaysia? Legal Framework Malaysia has a legal system that govern wills and estates, with the Wills...
In the fast-paced and unpredictable journey of line, one of the most crucial aspects for responsible breadwinners in Malaysia is ensuring the financial security of their loved ones. Life insurance emerges as a powerful tool in this pursuit, offering a safety net that can provide peace of mind and stability for dependents in the face...
Estate planning and insurance are crucial aspects of financial management, yet many individuals harbor misconceptions that can hinder informed decision-making. Addressing these myths is vital for helping public navigate the complexities of securing their financial future. In this article, we will debunk some common misunderstandings surrounding estate planning and insurance. Myth 1: “Estate Planning...
Estate planning is often associated with married couples, but it is equally essential for unmarried couples, especially a Will is revoked through marriage or re-marriage unless the Will is made in contemplation of a specific marriage. This article explores the significance of estate planning for unmarried couples in Malaysia, delving into the legal protections available...
Will serves as a crucial legal document expressing an individual’s wishes for the distribution of their assets, property, and belongings following his/her demise. In Malaysia, for a Will to be considered valid, it must include beneficiary(ies), asset(s) and property(ies), provisions for guardianship in case of minors, and importantly, the signatures of at least two witnesses....
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