Friday, January 17, 2014

What Happen When You Don't Have A Will?

Under the Distribution Act 1958, the deceased's assets will be distributed as follows; 25% to surviving spouse, 50% to issues (include children, grandchildren and other lineal dfecendents) and 25% to surviving parents.

The problem arises if parents pass away soon after, 25% of his estate could end up in the hands of his brothers and sisters and other receipients.

The ensuing claim by all interested parties who are eligible by law to a piece of his estate, will cause difficulty in liquidating the assets; thus causing hardship to the intended beneficiaries.






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