KUALA LUMPUR – Preparing a wasiat (will) or hibah (grant) before passing away can simplify the process of inheritance distribution and prevent disputes or conflicts over assets after one’s death.
Maybank Trustees Berhad CEO Nor Fazlina Mohd Ghouse emphasised that the practice was encouraged in Islam and aligned with Islamic principles when done correctly.
"Assets distributed through a will are easier to allocate to heirs compared to leaving them without any formal arrangements.
"By declaring a will or hibah, it ensures financial support for family members who depend on the deceased. This must be done during the testator’s lifetime, and it will take effect after their death," she said during the ‘Beyond Today Planning Your Future Wasiat and Hibah’ event at the Malaysia International Trade and Exhibition Centre (MITEC) on Saturday.
Nor Fazlina further shared that Maybank Trustees has partnered with Yayasan TZA to raise awareness about the importance of wills and Hibah within the community.
She pointed out that many people underestimate the significance of preparing a will, often assuming that inheritance distribution was limited to heirs and must follow the Faraid (Islamic inheritance) system.
"The proportion of assets that can be allocated through a will is one-third of the remaining estate after settling outstanding debts. The remaining two-thirds are designated for heirs and distributed according to Faraid principles," she explained.
"Our team of experienced professionals is ready to provide advice and assist in drafting wills to ensure the individual’s intentions are honoured and their legacy is distributed efficiently and effectively."
"For as little as RM1,080, individuals can prepare a will or Hibah with Maybank Trustees Berhad. For more information, you can visit the nearest branch," she added.