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Most joint bank account holders assume that upon death of a joint account holder, the surviving joint account holder will be the owner of the monies in the joint account. Is this true?

Most of the banks in Malaysia contain joint account mandate termed as ‘survivorship clause’ in the joint account agreement. Often this clause takes a standard form and it reads as follows from the FC case of Public…

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Many people may overlook very essential element in preparing their Will i.e. the appointment of an Executor. Appointing a capable, reliable and trustworthy Executor is important in writing a Will. When a person passes on, the appointed Executor is to administer the deceased estate and distribute the assets according to the Will.

If the appointed individual Executor in the Will refuses to act or become unable to act due to…

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When a person write his Will, he will appoint a trusted person or licensed trustee corporation as his Executor. The Executor is to carry out the instructions in the Will. The Executor is responsible for the entire estate administration until the final distribution of the assets is made to the beneficiaries.

One of the duties of an Executor is to pay off the deceased person debts and liabilities from the…

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