Writing wills, a touchy topic in Malaysia, where US$15 billion in inheritance is unclaimed

Hesitance to address death and estate planning, along with a lack of awareness, has left families facing legal challenges and risking assets becoming government revenue

Reading Time:2 minutes

A staggering US$15 billion in unclaimed inheritance sits in Malaysia’s government coffers. Photo: Shutterstock

Published: 6:41pm, 24 Feb 2025Updated: 12:37pm, 25 Feb 2025

The revelation of billions of dollars in unclaimed inheritance has provoked uncomfortable questions among Malaysians about death, personal finance and estate management, with many only now realising the importance of preserving their legacies for future generations rather than allowing them to be forfeited to the government after 15 years of inactivity.

The lack of estate planning in Malaysia has left an estimated 65 billion ringgit (US$14.8 billion) under government management, according to government-appointed inheritance trustee Amanah Raya in a report by local Malay daily Berita Harian on Sunday.

Just 5 per cent of the country’s 34 million people had some form of estate planning, said Amanah Raya’s Group Managing Director Ahmad Faizal Sulaiman Khan, leaving most of the population with the unwieldy task of clearing multiple legal and financial hurdles to secure their inheritance.

Experts said that long-held superstitions and cultural taboos surrounding discussions about death were a major reason why Malaysians avoided talking about estate planning.

“Many Malaysians are hesitant to draft wills due to cultural and superstitious beliefs that discourage discussions about death,” said Eugene Yeong, a lawyer and founder of Yeong and Associates, which offers estate management services.

Estate planning is crucial in Malaysia, with US$14.8 billion unclaimed due to cultural taboos and lack of awareness, risking assets becoming government revenue. Photo: Shutterstock

“Additionally, there is a significant lack of public awareness regarding the importance of estate planning, leading to procrastination in will preparation.”