PETALING JAYA: Properties worth RM42 billion have been frozen from about one million unresolved inheritance cases due to the absence of written wills.
Amanah Raya Bhd (ARB), a premier government-owned trustee company which provides corporate trusteeship services, legacy management, trust accounts and will management, has found that only two per cent of Malaysian have written wills.
Its chief marketing officer, Ahmad Saruji Abdul Aziz, said when people had made a will, all information on their assets would be recorded to facilitate distribution to the beneficiaries later on.
To culturalise writing of wills in society, ARB in collaboration with Islamic property inheritance management company, Warisan Mukmin Sdn Bhd, has launched a will-writing campaign called Will-Writing Year 2011.
"We don't want the problem to mount. This nationwide year-long campaign is aimed at creating public awareness on the importance of writing a will to avoid other problems later on, especially freeze on property and family disputes or break-ups," he told reporters after launching the campaign here Wednesday.
In conjunction with the campaign, the public can obtain the will document for managing their assets which may be worth tens or hundreds of thousands of ringgit, with an initial cost of RM30 monthly and through flexible payment.
Warisan Mukmin chairman Datuk Mohd Nahwari Hashim said the company targeted to register 5,000 wills by the year end. - BERNAMA
Read more: Unresolved inheritance, properties worth RM42b frozen http://www.nst.com.my/articles/Unresolvedinheritance_propertiesworthRM42bfrozen/Article/
Source: Bernama, NST
Date: 31 March 2011