Estate Inventory (Malaysia)

An Estate Inventory in Malaysia records the findings or particulars it documents for the purpose at hand.

The Estate Inventory serves several critical functions in Malaysian estate administration. First, it establishes the gross value of the estate, which determines the court filing fees payable under the Rules of Court 2012, the executor's and trustee's fees (including Amanah Raya Berhad's fees under the Public Trust Corporation Act 1995), and the size of the administration bond required under Section 34 of the Probate and Administration Act 1959. Second, it provides the starting point for the executor's or administrator's accounts — showing what assets were in the estate at death, what was received, and how the estate was distributed. Third, in contested probate proceedings before the High Court of Malaya, the Estate Inventory may be cross-examined as evidence of the estate's composition.

The Estate Inventory must cover all categories of property in the estate: real property (land and buildings) registered under the National Land Code 1965 (Act 56); movable property including bank accounts, fixed deposits, unit trust investments, shares listed on Bursa Malaysia Securities Berhad, shares in unlisted companies registered with the Companies Commission of Malaysia (SSM) under the Companies Act 2016, EPF (Employees Provident Fund) savings, insurance policies, vehicles, jewellery, and household contents; and debts owed to the estate (book debts). Against these assets, the inventory must also disclose the estate's liabilities — mortgage loans, personal debts, credit card balances, and other obligations.

For Muslim estates, the Estate Inventory must distinguish between the deceased's own assets and any assets held in joint names, hibah trusts, or under nominee arrangements, as only the deceased's own assets are subject to faraid distribution. Assets held under a valid Hibah Trust or nominee arrangement do not form part of the estate.

The legal framework governing the Estate Inventory (Malaysia) in Malaysia draws on several key statutes and regulatory bodies. Under Malaysian law, the Contracts Act 1950 (Act 136) governs contractual obligations. The Companies Act 2016 (Act 777) regulates corporate entities through the Companies Commission of Malaysia (SSM). The Employment Act 1955 (Act 265) and the Department of Labour govern employment matters. The Personal Data Protection Act 2010 (Act 709) and the Personal Data Protection Department protect personal data. The Inland Revenue Board of Malaysia (LHDN) administers tax obligations. The Industrial Court adjudicates employment disputes under the Industrial Relations Act 1967 (Act 177). Parties executing a Estate Inventory (Malaysia) in Malaysia should confirm the document reflects current law, including any amendments enacted since the original drafting date. The Wills Act 1959 (Act 346) sets the foundational requirements.

An Estate Inventory is needed as part of every application for a Grant of Probate or Letters of Administration at the High Court of Malaya under the Probate and Administration Act 1959.

An Estate Inventory is required by the High Court Probate Registry when the executor or administrator files the originating summons and affidavit for a Grant of Probate (deceased left a will) or Letters of Administration (deceased died intestate). Form 73 under Order 71 of the Rules of Court 2012 must be completed and filed.

An Estate Inventory is needed to determine the total value of the estate for the purpose of calculating court fees under the Rules of Court 2012. The scale of court fees is set by reference to the gross estate value, and an accurate and complete inventory is necessary to avoid underpayment of fees (which delays the grant) or overpayment.

An Estate Inventory is required for the Land Administrator (Pentadbir Tanah) proceedings under the Small Estates (Distribution) Act 1955 for small estates, though the Land Administrator's inventory focuses primarily on immovable property within the RM 2 million threshold.

An Estate Inventory is needed by Amanah Raya Berhad or any professional executor at the commencement of estate administration, providing a thorough baseline from which to track asset collection, debt payment, and distribution to beneficiaries.

An Estate Inventory is required in contentious probate proceedings before the High Court of Malaya when beneficiaries dispute whether all assets have been properly accounted for by the executor, or where a beneficiary alleges that the executor has misappropriated or failed to disclose estate assets.

Parties in Malaysia should prepare a Estate Inventory (Malaysia) proactively rather than waiting for a dispute to arise. Courts interpret agreements based on the written terms rather than oral representations. Under Malaysian law, the Contracts Act 1950 (Act 136) governs contractual obligations. The Companies Act 2016 (Act 777) regulates corporate entities through the Companies Commission of Malaysia (SSM). The Employment Act 1955 (Act 265) and the Department of Labour govern employment matters. The Personal Data Protection Act 2010 (Act 709) and the Personal Data Protection Department protect personal data. The Inland Revenue Board of Malaysia (LHDN) administers tax obligations. The Industrial Court adjudicates employment disputes under the Industrial Relations Act 1967 (Act 177). Where the transaction involves regulated activities, prior approval from the relevant authority may be required before execution.

A complete Estate Inventory for Malaysia must contain the following elements to satisfy the requirements of Form 73 under Order 71 of the Rules of Court 2012.

Deceased's Details: Full legal name, MyKad number, date of birth, date of death, last known address, religion, and domicile at the time of death. A certified copy of the death certificate from the National Registration Department (Jabatan Pendaftaran Negara, JPN) is attached.

Real Property: Each parcel of land and building owned by the deceased, identified by title details — grant number, lot number, mukim (sub-district), district, and state — as registered under the National Land Code 1965. The estimated market value of each property in Malaysian Ringgit (RM) at the date of death must be stated.

Financial Assets: All bank accounts (savings, current, fixed deposit) with bank name, branch, and account number; EPF (Employees Provident Fund) savings balance as at the date of death (EPF savings are not technically part of the estate but must be accounted for by the executor if not subject to a valid nomination); unit trust investments with fund manager name and account number; shares in listed companies on Bursa Malaysia with quantity and approximate value; shares in unlisted companies registered with SSM under the Companies Act 2016.

Insurance and Takaful: Life insurance policies and takaful certificates, identifying the insurer, policy number, sum assured, and whether a nomination under the Financial Services Act 2013 or Islamic Financial Services Act 2013 exists. Nominated policies paid directly to nominees are generally outside the estate.

Personal Property: Vehicles (with registration number and estimated value), jewellery, artwork, antiques, and other personal items of significant value.

Debts and Liabilities: Mortgage loans outstanding (with lender, account number, and outstanding balance), personal loans, credit card debts, income tax liabilities under the Income Tax Act 1967, and any other obligations of the estate.

Net Estate Value: A summary showing gross asset value less total liabilities, arriving at the net estate value to be distributed to beneficiaries.

Additional compliance elements for a Estate Inventory (Malaysia) used in Malaysia include: Under Malaysian law, the Contracts Act 1950 (Act 136) governs contractual obligations. The Companies Act 2016 (Act 777) regulates corporate entities through the Companies Commission of Malaysia (SSM). The Employment Act 1955 (Act 265) and the Department of Labour govern employment matters. The Personal Data Protection Act 2010 (Act 709) and the Personal Data Protection Department protect personal data. The Inland Revenue Board of Malaysia (LHDN) administers tax obligations. The Industrial Court adjudicates employment disputes under the Industrial Relations Act 1967 (Act 177). Forms-legal.com provides this template as a starting point for Malaysia-compliant documentation.