PETALING JAYA: The Malaysian Institute of Estate Planners (MIEP) is calling on the government to implement practical measures in Budget 2026 to simplify estate planning, reduce unclaimed funds, safeguard family businesses and enhance Malaysia’s position as a regional wealth hub.
In submitting its Budget 2026 wishlist to the Ministry of Finance, MIEP said the key highlights include a proposed RM1,000 tax relief for wills, trusts and estate planning services, alongside an increase in the stamp duty exemption for family property transfers from RM1 million to RM1.5 million, and up to RM2 million in Sabah and Sarawak.
To address common challenges, a centralised will and trust registry is suggested to minimise missing documents and delays.
At the same time, a digital probate system is expected to expedite straightforward cases within 30 to 60 days.
For family businesses, MIEP propose exemptions from capital gains tax on succession to ensure continuity, while a one-time RM300 rebate for insurance trusts is proposed to encourage greater adoption.
In addition, enhancements to the Forest City Hub should be considered, including lower entry thresholds, a broader investment scope, and 10 years of tax certainty to attract family offices and wealth management activities.
“These measures are not just for the wealthy. They will help ordinary families protect their homes, keep SMEs alive, and make Malaysia a stronger financial hub,“ MIEP president See Kok Loong said in a statement.