Any body has experience in this?
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Creating a Will. Shall we engage Singaporean or Malaysia Lawyer?
- Thread starter wolverine23
- Start date
I was told by developer's lawyer that foreigner can make Will in their home country, but need to bring along the Will and SPA to Malaysia lawyer for authentication.
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If you do not have a valid will and when you kick the bucket, your estate in Singapore(property, cash, jewelry, etc.) will be distributed to the beneficiaries in accordance to Singapore's Succession Act.
Here, the distribution apportioning will not be to your preferred choice (I think its half to spouse and balance divided to all children equally).
Your property and valuables in Malaysia will however be "frozen" and the beneficiaries need to apply the Malaysian govt to unfrozen it for distribution thru a lengthy and expensive legal process.
Failing to do so and after a certain time frame, the govt will makan everything.
Your CPF will be left to whoever you had nominated long long ago (so maybe its time to reconsider the nominees).
Its not expensive, only cost a few hundred bucks for both and any good legal firm can do this, just go to one you trust.
I was told by a Msian lawyer that cannot have two wills, ie cannot have one in SG and one in Msia, as only the latest will can be enforced. And that can apply to enforce the SG will in Msia.
There are professional will writers in Malaysia. One of them is called Rockwills and they are also will custodians meaning the original copy is kept in their vault and would only be released to the named executor. The cost is anything from RM800 to few thousands depending on how complicated it is.
I believed some banks also offer such services such as OCBC or UOB but only to their priviledge account holders.
I believed some banks also offer such services such as OCBC or UOB but only to their priviledge account holders.
Rockwills is also in Singapore too. I shall give them a call this week to see if the will in Singapore covers Malaysia too.
http://www.rockwills.com.sg/index.php?mid=14
An agent for Rockwills told me can have two wills, one in SG and one in Msia, different from what the Msia lawyer advised me subsequently that only can have one will.
Obviously you CANNOT have 2 wills with somewhat similar content cos when you go, which will one shall be executed?
The idea here is you write a will in MY just only covering all your MY's stuff ( property, bank acct, cash etc) and the other will in SG covers all with mention of the existence of this will made in MY.
I have a Malaysian family friend who passed away 3 years ago without a valid will and his 2 children in SG had an extremely hard time till today still trying making claim to his estate.
It is quite comparable to Singapore as one can get a standard will for SGD250 but does not serve as custodian.
Oh the Rockwills agent did say the Msia will is just for Msia fixed property ie real estate, she said that movable properties in Msia like bank account and shares can be covered by Sg will but not Msia real estate and that is why need one will in Sg and one will in Msia.
Your Msia family friend passed away without a valid will, anyone know of Singaporean who passed away with a SG will and whether difficult to apply probate in Msia using the Sg will? What the Msia lawyer said is can apply to enforce the Sg will in Msia, I think call applying probate or something like that.
OH? So money in the Malaysian bank accounts are safe and cover under the Singapore Intestate Succession Act?
Well what the Rockwills agent told me is movable properties in Msia can be covered by my Sg will. I have a will in Sg so I have not asked about dying intestate...
I am puzzled.
Am I suppose to get a Malaysian will, Singapore will and a UK will?
Surely there are International wills or a will that cover everything globally.
There doesn't seem to have an international court with a global supreme judge who can preside anything globally. I don't think so. Probably a master will and subsidiary local ones that await the trigger from the master will. But, it sounds rather complicated. With RM in Malaysia banks and properties in Malaysia, suddenly death becomes so complicated.
What about offshore bank accounts and worldwide properties? Never know dying so complicated.
Rich man's problem.
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