Probate is required if the deceased person owned real property or if his or her other assets are above the threshold amount, which is usually $50,000 for major banks and lower thresholds for other financial institutions. Assets that had been “owned jointly” (but not assets held “in common”) pass automatically to the other joint owner and do not form part of the deceased estate. Also, benefits from life insurance on the deceased paid directly to a nominee is not part of the estate, nor are trust assets held by the deceased as trustee.
In West Malaysia and Sarawak, wills are governed by the Wills Act 1959. In Sabah, the Will Ordinance (Sabah Cap. 158) applies. The Wills Act 1959 and the Wills Ordinance applies to non-Muslims only.[13] Section 2(2) of the Wills Act 1959 states that the Act does not apply to wills of persons professing the religion of Islam.[13] For Muslims, inheritance will be governed under Syariah Law where one would need to prepare Syariah compliant Islamic instruments for succession.
DocuBank® is a document storage service that provides immediate access to healthcare directives and emergency medical information wherever you are at the time a medical emergency happens. 75% of people who execute a medical power of attorney, HIPAA authorization and a directive to physician do not have those documents when they need them. With Docubank you are issued an identification card that you carry in your wallet and if a medical emergency arises the doctor or hospital can call the number on the card and obtain your directive to physician (living will) and the other important medical documents you have executed. You don’t have to worry about carrying those documents with you. (See www.docubank.com for more information). I charge an additional $450.00 for preparing the following estate package for a single person and $750.00 for a couple for these additional important documents and a five year subscription to DocuBank®.
When Aretha Franklin died intestate—without a legal will—in 2018, she joined a surprisingly long list of famous people, including Prince, who also did the same. By not preparing the documents, she made the task of settling her affairs more complicated for her survivors. While your estate may not be as large or complex as a famous singer's, it's still important to have a plan in place in the event of your death.
