Owning assets overseas has become increasingly common nowadays, especially for the higher income group. However, after acquiring those assets, many are unaware of the issues of inheritance and legal complications in respect of administrations of foreign assets upon their demise. Even if they do, chances are that they may include all their assets into the same Will regardless of where those assets are located.
Due to the different laws and foreign jurisdictions that can apply, handling assets for distribution to your loved ones can be very tricky. This could also cause delay because the Malaysian probate must be obtained first, then followed by subsequent applications for probate in the other countries, whether by way of resealing of the Malaysian probate or fresh applications for probates. This would simply mean additional costs and expensive foreign legal fees would be incurred. More importantly, beneficiaries will inherit less.
Advice from a local expert
Through working with our associates and connections, we can organise the preparation of the foreign Will by the appropriate legal counsel for the client’s approval and thereafter for his execution here in Malaysia.
Faster and simpler procedure
Without having to wait for the Malaysian probate to be granted first, the foreign Will can be used for probate application in the relevant court, thus saving a lot of time and also eliminating the risk of resealing of Malaysian probates being rejected because of technical issues.
Low legal cost
If a foreign Will was written to include assets in that country and written in the language of that country in accordance with the laws there, the route to obtain probate in the future would generally be a lot smoother and cheaper. The beneficiaries will inherit more.
Wide area of coverage
We are offering foreign Will Writing services to clients owning assets overseas through our network of associate estate planning professional firms based in Australia, China, Hong Kong, India, New Zealand, Singapore, United Kingdom, United States, Vietnam and other countries.
Other than Will Writing services, we also offer a full range of estate planning services, family business succession plan and many more. If you are looking for a reliable Estate Planning, Will and Trust company in Malaysia, look no further and get in touch with us now!
