Writing wills, a touchy topic in Malaysia, where US$15 billion in inheritance is unclaimed
An estimated 65 billion ringgit (US$14.8 billion) in unclaimed inheritance is currently under government management in Malaysia, highlighting a critical lack of estate planning among its citizens. This revelation has sparked a national conversation about death, personal finance, and the importance of securing legacies for future generations, rather than allowing assets to be forfeited to the government after 15 years of inactivity.
According to inheritance trustee Amanah Raya, only about 5% of Malaysia's 34 million people have engaged in any form of estate planning, leaving the majority facing complex legal and financial obstacles to claim their inheritance. Experts attribute this issue to cultural taboos and superstitions surrounding discussions about death, as well as a general lack of public awareness regarding the importance of will preparation and estate management.
via SCMP Full Text Feed
An estimated 65 billion ringgit (US$14.8 billion) in unclaimed inheritance is currently under government management in Malaysia, highlighting a critical lack of estate planning among its citizens. This revelation has sparked a national conversation about death, personal finance, and the importance of securing legacies for future generations, rather than allowing assets to be forfeited to the government after 15 years of inactivity.
According to inheritance trustee Amanah Raya, only about 5% of Malaysia's 34 million people have engaged in any form of estate planning, leaving the majority facing complex legal and financial obstacles to claim their inheritance. Experts attribute this issue to cultural taboos and superstitions surrounding discussions about death, as well as a general lack of public awareness regarding the importance of will preparation and estate management.
via SCMP Full Text Feed
