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What would happen to mrs wong estate

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Reference no: EM132653226

Mr. and Mrs. Wong has the following assets:

1. RM100,000 in a fixed deposit account under their own name respectively.

2. 20 acres of dragon fruit farm titled as joint tenants and not as tenants-in-common.

3. Mr. Wong holds some shares with a value amounting to RM50,000 in the stock market. The couple thinks that they do not need a Will because their largest assets, the dragon fruit farm, is jointly owned. They are not aware of the importance of the estate planning.

Required:

Question (a) Evaluate why do Mr. and Mrs. Wong need a Will.

Question (b) Discuss the basic requirements of a valid Will.

Question (c) Mrs. Wong's last Will and testament provides that "all my assets at my death shall be divided in three equal portions among my husband and my children". Mrs. Wong died unexpectedly, leaving her husband and two children as sole heirs. Assuming that the above case is a hypothetical scenario with no relevance to the Malaysia National Land Code, discuss what would happen to Mrs. Wong's estate which she has left behind.

Reference no: EM132653226

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