Testamentary Processes in the ASEAN Region: A Boon or Bane to Free Trade?
The process of doing business has evolved due to the advent of the Internet and the World Wide Web as it has broken down barriers in dealings and trade. The increase of cross-border expansion and acquisitions have inevitably led to an increased flow of human capital who acquires assets when settling in to a new country. When these foreign owners pass away, cross-border inheritance claims will arise. How easy is it truly to stake one’s claim in both movable and immovable assets outside of their country of birth but within ASEAN?
In this article, Jeyakuhan S K Jeyasingam, Partner in the Litigation Practice of Zaid Ibrahim & Co. (a member of ZICO Law) discusses the need for a uniform testamentary process in ASEAN to provide a set of rules governing the law of probate in the region.
