Saturday, April 8, 2017

Common mistake - part 2

With an invalid will, is just like without a Will.

3. Selecting The Wrong Person To Be Witness
If your witness is also a beneficiary or the spouse to a beneficiary in your Will, then that person forgoes his or her gift. A gift made to someone who witnesses your Will is deemed to be null and void.
HOW TO PREVENT THIS - It is better asking close friends to be witnesses rather than family members who may be a potential beneficiary.
BEST SOLUTION
contact me @016-6825195, we will always make sure your will is valid


4. Overlooked Assets
It is common to overlook some assets especially if you have multiple bank or investment accounts spread out in various places.
HOW TO PREVENT THIS – To have an updated and complete list of assets when you want to create your Will.
BEST SOLUTION - Always make sure having "Residuary Estate" clause which always cover any overlooked or future added assets. This clause also ensure your estate always have beneficiary(ies) in case some of your beneficiary(ies) no longer there.


Source: legalwillsmalaysia.com

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