MWD Wills Depository Sdn Bhd launches WillKey, a solution that enables Malaysians to search for a Will. Malaysia’s first Will registry, serves as a central registry where testators can register information about the whereabouts, or deposit copies of their Wills. If they so wish, they can also store them with MWD Wills Depository Sdn Bhd and have their Wills located easily.
WillKey serves as a centre for effective Will search and custodian services. It is a purpose-built business model of registration, storage and search of Wills only. With a robust and secure vault with a fire suppression facility in place that leverages on technology, WillKey consolidates information for testators, executors and beneficiaries to simplify and expedite the process of searching for and retrieving Wills.
Su Tiang Joo, Director of MWD Wills Depository Sdn Bhd says, “We believe that Malaysians are always looking for easier and more efficient ways to get things done. Searching for a Will to facilitate the rightful execution and distribution of wealth and assets is no exception. Having a Will is important for anyone who has properties, insurance policies, bank accounts and other types of assets to determine who inherits them, but knowing where the person has stored a Will is just as important. This is especially important for families who experience sudden death, where they were financially dependent on the deceased and need a speedy resolution to move on with their lives.”
WillKey is not just for those who are looking for a deceased’s Will, but also serves as a platform for lawyers and Will writing service providers to register their clients’ Wills. “We encourage all people, be it testators or solicitors, to register and store their Wills with WillKey. This makes the search process for a Will less tedious,” adds Mr Su.
While Will-related services tend to be costly for a testator, WillKey intends to provide services that are affordable without compromising its security and credibility. Its subscription fees are tailored to minimise impact on a testator’s financial expenditure. A testator only needs to register once with WillKey with a one-time fee of RM133.33. Will storage subscription fees are available for as low as RM3.33 per month.
“Will-related services tend to be the last thing on people’s minds as they are not day-to-day expenditures that people think of. This is why WillKey’s fees were designed with affordability in mind. Think of it as a small investment to ensure the security and safe retrieval of your Will. We wanted our services not to be an added burden for testators and their families who have already spent a fair bit on the entire Will-writing process,” comments Mr Su.
The centralised Will registry also serves to complement the ecosystem of testators, executors and beneficiaries by working hand-in-hand with agencies who help clients write Wills and manage the execution of their Wills, trusts and estate administration.
