Posted: Thu May 14, 2009 5:00 pm Post subject: Estate Planning
No not "shall I plant teak trees or rain trees on the five hundred metre driveway up to my mansion", but:
Settling in Malaysia and purchasing a property can involve locating a singificant portion of one's assets in this foreigh country. What are the procedures necessary to ensure that, on my death (either in Malaysia or elsewhere) my property in Malaysia passes on to my family, in accordance with my wishes.
a) Is my will, drawn up in simple fom in my home country, adequate?
b) does this will need to be notarised in Malaysia, or deposited anywhere?
c) are there taxes to be paid on the assets, and does my religious persuasion affect these taxes?
Sorry if this has already been dealt with, but I have not found anything from a search.
Posted: Thu May 14, 2009 10:28 pm Post subject: Wills
hi,
I faced this several years ago. I checked with a local solicitor who explained that, in Malaysia, probate needs to be applied for by a solicitor and can take some time.
As a will costs a few hundred ringgit, I got a Malaysian will made. It saves a lot of hassle.
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