Top 5 Myths About Will Making: Debunked
Making a will is an essential step in ensuring your assets are distributed according to your wishes. Yet, many myths and misconceptions surround this process, causing unnecessary delays or misunderstandings. Let’s address the five most common myths about will making and uncover the truth behind them.
1. “You Only Need to Write a Will When You’re Old”
This is a myth. In Malaysia, anyone aged 18 or older can write a valid will. Life events such as marriage, having children, acquiring property, starting a business or getting divorced are all reasons to write a will.
- The truth: It’s never too early to plan for the future, but it can be too late. A will ensures your wishes are carried out, regardless of your age.
2. “Writing a Will Means You Will Die Soon”
This is a myth. While death is a difficult topic, writing a will does not hasten it, it simply ensures that your loved ones are cared for after you’re gone.
- The truth: Think of will making as a practical step to ease the burden on your family. A clear and valid will simplifies the administration of your estate, reducing stress and avoiding disputes.
3. “Wills Are Only for the Wealthy”
This is a myth. Regardless of your financial status, having a will is vital to ensure your assets both movable (e.g., money, jewellery, shares) and immovable (e.g., property, vehicles) are distributed according to your wishes.
- The truth: Without a will, your assets will be distributed under the intestacy rules of the Distribution Act 1958, which may not reflect your intentions. A will helps prevent disputes and ensures your loved ones are cared for.
4. “Writing a Will Is Complicated and Expensive”
This is a myth. The process of drafting a will is straightforward, especially when guided by an experienced solicitor.
- The truth: Costs vary depending on the complexity of your estate, but the peace of mind that comes with having a valid will is invaluable. A solicitor can simplify the process and tailor the will to your specific needs.
5. “Writing a Will Is Final”
This is a myth. A will is not set in stone, you can update it as your life circumstances change.
- The truth: Wills are revocable, meaning you can replace an outdated will with a new one at any time. It’s important to review your will regularly to ensure it reflects your current wishes, relationships and assets.
The Bottom Line
Making a will is not about wealth or age, it’s about securing your family’s future and ensuring your legacy is honored. By debunking these myths, you can approach will making with confidence and clarity.
At Messrs Alicia Nicholson, we’re here to guide you through every step of the will-making process, making it simple, effective and tailored to your needs. Contact us today to ensure your wishes are protected.
