Many time there are many seminars and you read in newspaper regarding Will Writing. It can be a very long explanation with technical legal jargons that might till the end confuses you. Here’s a summarized way to explain to you about the difference if we were to pass On with a Will & Without a Will. Just remember these three key difference: Ownership, Time and Cost. Enjoy the video …
Without a Will:
- You lose ownership and control of who you want to pass your estate to. The Distribution Act will decide for you.
- It’ll take longer time for your family to unfreeze your estate because you need to go through a process to apply for Letter of Administration, appointing an Administrator and find 2 Sureties (or in layman, we call them Guarantors)
- It’ll cost more money for your family to unfreeze your estate by going through the process of applying for Letter of Administration.
With a Will:
- You gain ownership and control of who you want to pass your estate to.
- It’ll take shorter time for your family to unfreeze your estate because you already name your executor and distribution wishes.
- It’ll cost less money for your family to unfreeze your estate by going through the process of applying for Grant of Probate.
About the Guest Author:
Evanna Phoon is the “Most Sought After Rockwills Will & Trust Specialist”. Her website is www.malaysiawills.com, where anyone can register for FREE SEMINARS on Will Writing & Trust and watch FREE Video Education Series to help increase awareness of Will, Trust and Estate Planning services in English, Mandarin and Cantonese.
She had done over 200+ video blogs on the topic of Will, Trust, Funeral & Bereavement care and Estate Planning. She was invited as a speaker at International World Bloggers Summit 2011@PWTC, Rockwills CEO achiever´s congress, Negeri Sembilan Chinese Chamber of Commerce & Malaysia SME Business Networking Seminar.
Evanna writes regularly for Malaysia SME newspaper and two Chinese medium magazines “mystudy.my” and QiJi.
Prior to joining the financial planning industry, she worked for a few years as an electronics engineer with Intel, Freescale, Motorola and Western Digital. While still studying in the university, she appeared in billboards and did catwalk modeling. She was Miss Astro Chinese International Finalist 1998/99 and had won Miss Sunway Beauty Pageant title in Year 1999. She is currently married with two children and love to spend her time mountain biking and outdoor sports with her family.