Answer：
Yes, you can combine and plan your Hong Kong and Malaysia assets within the same will. However, to ensure that the will is legally valid in both jurisdictions, several important factors must be considered. Since the legal systems of Malaysia and Hong Kong are different, creating a comprehensive estate plan is crucial.
In cross-jurisdiction estate planning, one of the key issues is how the legal frameworks of different countries interact. Although it is theoretically possible to include all assets in a single will, the execution process may involve complicated probate procedures. If your Malaysia will includes assets located in Hong Kong, you may still be required to undergo a separate probate process in Hong Kong to confirm the will’s legal validity before the assets can be formally distributed. This may result in additional delays and legal costs, especially when real estate, business assets, or complex properties are involved, as the procedures can become more cumbersome.
As a leading provider of estate planning services, Rockwills can offer you a more efficient solution, such as recommending that you prepare separate wills for different jurisdictions. This approach ensures that the will covering your Hong Kong assets complies with Hong Kong law, while your Malaysia will applies only to assets located in Malaysia. With this dedicated will structure, the probate process in each country can proceed independently, reducing potential delays and legal conflicts.
In addition, Rockwills can also assist you in applying for the re-sealing of your Malaysia will in Hong Kong, or vice versa. This helps simplify the legal procedures involved in cross-border asset inheritance and ensures that your estate can be distributed smoothly.
Another important consideration in cross-jurisdiction estate planning is taxation. Different countries have different rules regarding estate or inheritance taxes. For example, Hong Kong currently does not impose estate tax, and Malaysia also does not levy inheritance tax. However, cross-border estates may still trigger tax obligations depending on the type and location of the assets. This is especially relevant if you own other international assets or have beneficiaries in different countries, as additional tax regulations may apply.
By establishing separate wills, you can ensure that each portion of your assets is handled according to the local tax laws, avoiding unnecessary legal complexity or potential issues of double taxation. This helps ensure that your beneficiaries do not face unexpected financial burdens.
In addition, regularly reviewing and updating your wills is equally important to ensure that your estate plan reflects your current circumstances and complies with changes in the laws of each jurisdiction. Rockwills provides long-term planning support to its clients, ensuring that your estate plan always meets your needs and can be adjusted as your personal and financial situation evolves.
In summary, while you may choose to combine your Hong Kong and Malaysia assets into a single will, a more practical approach is usually to prepare separate wills for each jurisdiction. This strategy helps reduce potential legal complexities, speeds up the probate process, and ensures that your assets can be distributed smoothly according to your wishes. With Rockwills’ professional experience in cross-border estate planning, you can rest assured that your estate will be managed in the most appropriate way, regardless of where your assets are located.
(All information and data are provided by Rockwills Group.)
About Rockwills International Group
Rockwills International Group has been established for 30 years and pioneered professional will-writing services in 1995. It has since grown into the nation’s leading estate planning specialist. Today, it is the largest provider of solutions and support services in the fields of trusts, inheritance, administration, and wealth distribution. It has drafted more than 320,000 wills, appointed over 200,000 executors and trustees, and manages more than RM 25 billion in trust assets.