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Anonymous
I do not know if anyone can advise if Malaysia has inheritance tax and is the power of attorney still valid if the donor has passed on. Will need some information as I need to help my dad manage his Malaysian asset ever since he got a stroke. Thanks
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Lim Boon Tat
24 Jan 2020
Mathematics at Cambridge University
Malaysia does not have inheritance tax, but it’s a topic that comes up frequently, most often when discussing the rich-poor gap (this debate takes place in Singapore too).
Based on my limited legal knowledge (you should seek legal counsel), The POA is invalid the moment the principal (in the case, your dad) passes away. The POA is valid while your dad is still alive. Upon his death, The court will appoint an administrator of his estate and it’s that person’s duty to manage his estate (following his wishes in his will if any).
Also useful to note is that the POA doesn’t give you the power to create or change your dad’s will, but it does give you full autonomy to perform the tasks in the POA.
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For Inheritance Tax,
Refer here. Look for Inheritance Tax and Gift Tax
https://www.labuanibfc.com/resource-centre/feat...
short answer: It depends on what kind of asset.
This may help.
https://www.propertyguru.com.my/property-guides...
Power of Attorney explanation
https://fareezlaw.com/blog/what-do-you-need-to-...
Malaysia power of Attorney Act
http://www.agc.gov.my/agcportal/uploads/files/P...
Sample for Letter of Attorney
https://www.facebook.com/megnacha/posts/sample-...
Good Luck.