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<blockquote data-quote="tongsatriani" data-source="post: 351873" data-attributes="member: 1356">Hi All,&nbsp;Just to enlighten on estate distribution.&nbsp;When someone is deceased, everything under his/hers name will be an &quot;estate&quot;.&nbsp;This estate is subject to a total debt clearance (eg. credit card, housing loan, business loan etc) then only the balance will be given back to next of kin/s.&nbsp;If all next of kins got no objection to the way of distribution (remember, there is a Distibution Act in Malaysia), all is well.&nbsp;If any 1 of them objects, then it&#039;ll be a civil case. So, writing a will &amp; engaging a trusty is the ONLY way to avoid disputes.&nbsp;House has it&#039;s own MRTA but not car or other liabilties. So, how?&nbsp;Simple, just get a life/term insurance policy/s that is commensurate to your current net worth/liabilities (eg. car loan RM300,000, get a 5 year term plan valued at the same amount).&nbsp;Hope this helps.</blockquote>

[QUOTE="tongsatriani, post: 351873, member: 1356"] Hi All, Just to enlighten on estate distribution. When someone is deceased, everything under his/hers name will be an "estate". This estate is subject to a total debt clearance (eg. credit card, housing loan, business loan etc) then only the balance will be given back to next of kin/s. If all next of kins got no objection to the way of distribution (remember, there is a Distibution Act in Malaysia), all is well. If any 1 of them objects, then it'll be a civil case. So, writing a will & engaging a trusty is the ONLY way to avoid disputes. House has it's own MRTA but not car or other liabilties. So, how? Simple, just get a life/term insurance policy/s that is commensurate to your current net worth/liabilities (eg. car loan RM300,000, get a 5 year term plan valued at the same amount). Hope this helps. [/QUOTE]

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