避免爭議‧單身人士應立遺囑

一個單身的成年人，如果去世前沒有立遺囑，同時父母已不在世、在沒有配偶、子女的情況下，根據遺產法令的分配，遺產歸兄弟姐妹平分。 

一名自稱是單身的讀者說，她名下有一些資產，例如房屋、單位信託、銀行存款，汽車等等，她想知道，如果是亁兒子，可以直接割名給他嗎？

__________________________________________________________________________________

答：單身的女姓朋友應該立遺囑，立了遺囑，可以將財產分配好，列明其中一部份財產將分給亁兒子，假如沒有立遺囑，萬一不在世，遺產將根據遺產法令分配。

林若輝律師說，一個單身的成年人，如果去世前沒有立遺囑，同時父母已不在世、在沒有配偶、子女的情況下，根據遺產法令的分配，遺產歸兄弟姐妹平分。

財務顧問認為，單身的成年人，不論財富多少，都應該立遺囑，立遺囑的時候，可以依據個人的意願進行遺產分配，譬如可以分配給母校、宗教組織、社會團體，侄兒、侄女、外甥等，表明分配同樣或不同數目的款項。

我們有遇到這樣的情況，就是單身的成年人去世，生前沒有立遺囑，財產說多不多、說少不少，其兄弟姐妹也過得去，他們因沒有時間處理，沒有打理其遺產。

另外一種情況是，儘管是以遺產法令進行分配，兄弟姐妹平分，可是，兄弟姐妹之間各說各話、互不相讓，認為自己應該分多一些，因為無法達致協議，鬧到不歡而散，結果也是沒有人負責處理，遺產最後只好歸政府。

一個人在世時，若立了遺囑，可以根據自己的判斷、意願來分配自己的財產，其他人不能有任何異議。

Source: （星洲日報／投資致富‧產業問診室）

6 difficulties when applying Letter of Administration (LA)

When a person dies without A Will (Dies intestate) - Apply Letter of Administration (LA)

1. Require two guarantors

• Family members might have difficulty to look for the qualified guarantors. The guarantors must have a net worth equivalent to the gross value of the deceased’s estate.
  

• This results in the delay in estate administration. Beneficiaries might take a longer time to receive their shares of the estate. The delay might result in estate shrinkage and beneficiaries might receive less due to the shrinkage in estate.

2. Conflict & problems faced over the appointment of administrator(s)

• The Court requires 1 or 2 administrator(s).

• Family contention arises over the right to be appointed as the Administrator(s).

• There is risk of the Administrator(s) absconding the estate.

• Appointed Administrator(s) may lack competence to perform.

• Family might not be able to obtain the 100% consent from all legal beneficiaries required.

• When there is a minor beneficiary, two Administrator(s) are needed.

3. Legal Fees higher to apply for LA To apply for LA, the family members might receive less due to the generally higher legal costs incurred.

4. Financial difficulties faced by the family as it takes more time to apply for LA Normally it takes 2 to 5 years OR MORE, thus dependants may face cash flow problems as the deceased’s bank accounts are frozen. Distributions under the Law might results in a change in ownership in businesses/companies of the deceased which might lead to fragmentation and loss in continuity and control.

5. The Law takes over your ‘RIGHT’ to name your beneficiaries

• As there is no Will, whom your beneficiaries are and the proportion for distribution are decided by the law. The distribution may not be that of your choice, and you lose your Right to distribute your hard earned assets the way you want it.

• Under the Law, there is no provisions for partner, stepchildren, illegitimate children, relatives whom you support.

6. The Law takes over your ‘RIGHT’ to appoint trustees and guardian for your minor children

• If both parents die in a common disaster, the Court decides who are the trustees & guardians for your minor children.
  

• The appointed person(s) might not be competent to perform the job.
  

• Welfare of minor might not be taken care of.
  

• Misuse of funds by the appointed Trustee might happen.
  

• You lose your Right to choose your preferred trustees/guardian.

Source: Rockwills Sdn. Bhd

What is will

A Will is a declaration by a testator (the person who make the Will), in prescribed form of the intention of the person making it of the matters which he or she wishes to take effect upon his or her death, until which time it is revocable. In short, it is a person’s last instructions.

Why need to draw up a will

1. Completing your Financial Planning Picture
By writing your Will, you would have completed your financial planning picture because you have covered yourself with insurance and created wealth (business) and accumulated wealth (investment/unit trust). It is a final step how you distribute your estate.

2. Unlock Frozen Assets in a Shorter Period
Most people will have dependants (parents, spouse, children and so on) who may be dependent on money that they provide. It may cause great difficulties for them if the flows of money stop suddenly. It is important, therefore, that instructions are left in the Will so that the money is made accessible to the right people in the quickest period possible.

3. No Limitations
A well-worded comprehensive Will written today will not become invalid should your assets and estate grow in the future. So, your future assets can be protected by your Will.

4. Peace of Mind
If you write your Will, you can enjoy peace of mind in thought because you have made proper arrangements for the distribution of your assets to your beneficiaries, most important, you are still in control of your assets.

5. Cheaper to Write a Will
Will-writing is considered the cheapest among all the financial services. For the one-time fee that is paid, it will last as long as you do not revoke or rewrite it. Even if you decide to rewrite a Will later, the cost is minimal compare with benefits and protection you enjoy.

A person dies WITH a Will	A person dies WITHOUT a Will
You provide for your beneficiaries in the Will you choose rather that letting the law decides.	Your estates will be distributed to the lawful beneficiaries according to the Distribution Act 1958 (as amended in 1997).
Partner, step children, illegitimate children, aged relative or others who depend upon you can be provided for in a Will.	Under the law, there is no provision for these groups of people. They might fall into financial difficulties without your support.
You exercise the right to appoint people of your choice to administer your estates and to carry out your wishes, safeguarding the interest of those you love and care.	The High Court decides for you. It might not be your choice.
No family contention could arise over the choice of administrator.	A family conflict arises on the choice of administrator.
You may appoint guardian of your choice for your infant children. So that their support, health and education will be taken care of.	The High Court decides for you. It might not be your choice.
No sureties are required for Grant of Probate.	Two sureties are required to provide security for the due administration of the estate. The security shall be equivalent to the gross estate. There will be delay in administration.
It costs less in term of legal fees to apply for Grant of Probate than Letter of Administration.	Legal fees could be costly.
With a Will, the whole legal process could be just a couple of months.	The legal process could take years. Assets could have shrunk in value when Letter of Administration is obtained.
Your loved ones are financially protected.	Your family could be facing serious financial difficulties.

Reference: Rockwills Corporation Sdn Bhd

5 Reasons Why You Feel You Don’t Need A Will

Reason 1: IGNORANCE
Many people are unsure of the function of a Will and importance of having one to protect the future of their loved ones.

Reason 2: SUPERSTITION
Throughout history, people have felt that if they write a document pertaining to death, it is a sure-fire way to hasten their demise. Death is obviously a subject we do not want to think or talk about and we generally associate death with older generations.

Reason 3: AGE
So many young people do not have a Will simply because they feel too young ~ nobody is too young to make a Will. In fact, a Will has nothing to do with age or death, but to protect your loved one when you are no longer around. One is never too young, It can only be too late.

Reason 4: MISCONCEPTION
It is believed that only the wealthy need to write a Will, for they have many possessions. The truth is, writing a Will has little to do with your net worth and everything to do with leaving a legacy of love and care. We all have something to leave - maybe EPF, a low cost flats, a small car, insurance given by credit cards company, banks, handphone service providers or other even those long forgotten Savings Accounts you've had for years.

Reason 5: PROCRASTINATION
People think a Will is a complicated and time consuming document and best left to write when older, instead of wasting time in the prime of life. According to statistics, today only Seven out of ten people who need to make a will die without having done so. This often creates serious problems for their families and others whom they would wish to benefit. Many people make the mistake of thinking that their possessions will automatically go to their spouses, children, or relatives but this is not necessarily so. If you do not make a Will your property and possessions will be disposed of according to Government rules (Distribution Act 1958), which may not be as you would wish!


Every individual over the age of 18 should have a will, whether they are rich or poor, male or female, single or married. Without a Will, the law will decide and certain people who are dependent on you or your loved ones may not received anything.


"If You Do Nothing,

The Law Will Do It For You!"

Source:
Malaysian Will

Distribution Act 1958

DISTUTION ACT 1958 (as amended by the Distribution (Amendment) Act 1997

INTESTATE LEAVING SURVIVING ENTITLEMENT Spouse only ( no parent(s)/issue ) - Spouse - whole estate Spouse and Parent(s) only (no issue) - Spouse - 1/2 - Parent(s) - 1/2 Issue only ( no Spouse/Parent(s) ) - Issue - whole estate Parent(s) only ( no Spouse/issue ) - Parent(s) - whole estate Spouse and issue ( no Parent(s)) - Spouse - 1/3 - Issue - 2/3 Issue and Parent(s) ( no Spouse ) - Issue - 2/3 - Parent(s) - 1/3 Spouse and Issue and Parent(s) - Spouse - 1/4 - Issue - 1/2 - Parent(s) - 1/4

Note : This Act only applies to West Malaysia and Sarawak. It does not apply to Muslims.

In the case when and intestate dies without leaving a surviving spouse, child or parent, the following person(s) are entitled to the estate in accordance to priority :-
1. brothers and sisters
2. grandparents
3. uncles and aunts
4. great grandparents
5. great uncles and aunts
6. Government

Source:
AmanahRaya