Will-writing is an important process which allows individuals to determine how their assets will be distributed after their death. Despite its importance, will-writing remains a taboo subject in many countries, including in Malaysia.
It is a subject which instantly reminds you of death, and so majority shies away from discussing it. However, this also means that only a few is exposed to the ways of legacy planning while most are still in the dark which may lead to confusion and conflict when the time comes for the assets to be distributed. This has also opened up to a few misconceptions on the will-writing itself.
The most famous misconception is the belief that wills are only necessary for the wealthy or for those with a large number of assets. This is untrue however as will-writing’s is not only for you to ensure that your assets are distributed according to your wishes, ranging from big property to the littlest thing such as your diary, but it is also a platform where you can leave behind your farewell messages to your loved ones or even funeral directives to your family when you’re gone.
Wills are only for when you’re frail and fragile is also one of the popular misconceptions. Due to the fact that we often associate will-writing with death, naturally we think that it is only necessary to do it when we are older or have fallen sick. The truth is, early planning is always the best approach to everything, including will-writing because the reality is, death knows no age. A will can provide you a peace of mind and acts as a security for you and your family when you’re no longer with them. In Malaysia particularly, in the event that a person dies without a will, their assets will be distributed according to Malaysia’s inheritance law which is known as the Distribution Act 1958. The arrangement however may not align with how you wish your assets should be distributed and therefore may cause a family dispute. This shows the importance of leaving behind a will for to ensure your loved ones are taken care of.
Another common practice which is also a misconception is in the situation of you actually preparing a will, but once it’s done, you never once revisited it again. It is the mindset for most people that will-writing, when it is concluded, it is to be stored away in the safety of the cupboard until it is needed i.e. once you die. This is unfortunately the common practice owing to our misconception that will-writing is only a one-time thing. The need to review it regularly to ensure it accurately reflects our wishes from time to time is not being highlighted on and so we foolishly do not place any importance in updating the will.
Therefore, despite the taboo surrounding will-writing, it is crucial for everyone to overcome their discomfort and to have more discussion among themselves to break away from the common misconceptions surrounding the legacy planning journey. Eventually, will-writing is undoubtedly the best piece of paper for you to have it ready as the impact is not only on your future, but also to your loved ones. Thus, it is time for you to stop hesitating and start your will-writing today.
Writing a will has never been easier with Koha, your one stop center for digital legacy planning. No face to face with agents is required, all you need to do is hop onto our digital platform to complete your Will-writing in merely 10 minutes.
With Koha, we will bring you through a seamless and speedier process in getting a copy of your written Will. You may construct your own personalized, legally binding Will and keep track of your final preparations in one location which you can easily return to and review at any moment.
Begin your journey with Koha now to plan for your inevitable end-of-life with ease and clarity.