Open AccessComparison between Will and Trust: A Conceptual Review
Author(s) -
Kuah Yoke Chin,
Wei Chooi Yi,
Nurul Afidah Mohamad Yusof,
Zuriawati Zakaria,
Zam Zuriyati Mohamad
Publication year - 2021
Publication title -
the journal of management theory and practice
Language(s) - English
Resource type - Journals
ISSN - 2716-7089
DOI - 10.37231/jmtp.2021.2.4.161
Subject(s) - estate planning , estate , inheritance (genetic algorithm) , property (philosophy) , business , real estate , process (computing) , key (lock) , independence (probability theory) , process management , computer science , finance , computer security , biochemistry , chemistry , philosophy , statistics , mathematics , epistemology , gene , operating system
The growth of unclaimed inheritance in Malaysia is an issue since the independence of Malaysia. Inheritance planning or Estate planning can be defined as the process of determining how one’s property should be distributed to meet the deceased’ wish. There are two popular estate planning instruments namely will and trust. This study aims to explore the differences of will and trust as part of estate planning instruments. The concept of will and trust, as well as the comparison and barriers of estate planning have been discussed in depth. This study will provide more insights to people for better-informed decision in their estate-planning arrangements by understanding the key differences between these two estate planning instruments.