Lack Of Understanding About Will Writing
May 6th, 2008 by Editor
A survey conducted not too long ago, revealed the lack of understanding among Malaysians when it come to Will writing. In this survey, more than 1,000 respondents took part.
This is not caused by a lack of knowledge. The survey found that while it 91% believe that every adult should write a Will, more than 81% did not have their Will written .
The perception about the importance of a Will is heartening. The biggest misconception? Only about 40% of the respondents said they would write a Will when they have accumulated wealth. This shows a lack of understanding of estate management or wealth distribution.
Wealth sometimes grows slowly but when totaled up i.e. the value of your home, EPF monies, investments like shares and mutual funds, the compounded effect might be quite significant. You might find yourself owning quite a bit of assets, more than you think.