Money left behind... Sigh!

From the Star newspaper dated 9 Nov 2009 ( more than a year ago).. there were RM3bil remain unclaimed from the Accountant-General's Department because the depositors failed to name their beneficiaries before dying. It could be the deceased depositors' next-of-kin or their children didnt even know didnt even know about the money that was left behind. The money could be left in the EPF or the banks, or they are not awared of the procedures to claim. Most of all, the deceased didnt write a Will before dying.

It is not that easy for the next-of-kin or children to inherit the deceased assets if there is no Will written. They have to go through a tough time before they could claim the deceased's assets. And it has to go according to the Distribution Act 1958. What is Distribution Act 1958?

The Distribution Act 1958(As Amended in 1997) is applicable to all Malaysian and Foreigners with Malaysian domicile who die intestate in Malaysia. The Act apply to foreigners whether they are working here as an expatriate or living in Malaysia on the MM2H programme(My Malaysia Second Home Programme). Please view the image attached.