Property and divorce lawyer Johor Bahru

A will is an important document that stipulates who will get your assets after your death. Without a valid will, your assets are distributed according to the law of intestacy,by applying letters of administration. which might leave your loved ones without access to the funds for months or even years. Here’s what you need to know to draft a legal, valid will, either by yourself or with the help of an expert.

Step 1: Naming your beneficiaries and identify the asset you want to bequeath

Your beneficiaries are the people you leave your assets, such as your home and money. Beneficiaries can include close family members, extended family members, friends and colleagues. You can leave, or bequeath, house, cars, monies in bank stocks, company’s shares or even special items, like a favourite diamond ring, to a specific person.

Step 2: Naming an executor

You need to name an executor in your will. An executor will make sure your will is followed and your beneficiaries inherit as you have specified. Your executor can be a financial adviser, bank or a trusted friend, and they should not be a beneficiary of your will. If they are a beneficiary and stand to inherit, you need to name another executor to work with them who is not a beneficiary.

Step 3: Appoint a Lawyer

If you’re preparing to draft a will, chances are you’ve come across dozens of templates and how-to videos through a quick online search. While there are tons of online resources about creating wills, trusts, and powers of attorney, it’s not ideal to take a DIY approach to estate planning.

Look for a experience lawyer to address all the components of the will and ensure they are all legally binding. Having a lawyer to perform a thorough review can help ensure the document will hold up in court.

Every country has strict laws governing probate and they are different pre-requisite for acquisition of certain types of land in different states i.e, low cost house, foreign interest restriction, and they change all the time. That means you must use a template that is both up-to-date and ensure that every property you bequeathed meets your state’s requirements. If you use an outdated template, there’s a good chance your will may not be legally binding.

Documents needed:-

  1. Your identity card;
  2. executor’s identity card; (need not present upon signing)
  3. beneficiary’s identity card; (need not present upon signing)
  4. All documentary proof of title deeds, sale and purchase agreement, quit rent, assessment receipt, bank account passbook, share certificates, stock certificates, vehicle registration card

Requirement of the validity of the will

The will must be in writing, signed by the maker in the presence of at least 2 witnesses. A will maker need to have sufficient testamentary capacity upon signing whereby he understands, recollect the extent of his property and the nature and extent of the claims upon by him by those who are benefiting and those who are not benefitting from his will. Any suspicious circumstances surrounding the making of the will, such as intimidation, threats, fraud, or forgery may expunged the will. The beneficiaries may relies the aforesaid to challenge the validity of the will in court.

Step 4: Proving will in court- Probate

Once a will maker died, the will must first have been proved in a probate court to enable executor to wind up the estate and carry out the provisions in the will. The executor shall also need to responsible for legal fees in transfer and transmission when transfer a real property although no stamp duty shall be payable (only nominal stamp duty need to be paid).

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