Are you looking for a will template in Singapore?
There is no strict requirement for you to appoint a lawyer to draft a Will in Singapore. Strictly speaking, you can prepare your own Will. Under the Wills Act, a testator may devise or bequeath his/ her estate by way of a Will (basically it means leaving your assets to the people you wish to leave your assets to).
Requirements of a Will
It is unsafe to be simply using a will template in Singapore without knowing the formalities of a Will.
A valid Will in Singapore needs to be:
1. In writing.
2. The testator (the person leaving behind the assets) must be 21 years old and above.
3. The testator must execute the Will by signing at the bottom of the Will.
4. The signing of the Will must be witnessed by at least 2 witnesses. To prevent conflict of interest, the witnesses must not be the beneficiaries or the spouses of the beneficiaries of the Will (i.e. recipient of the assets). Generally, if you have engaged a lawyer for the drafting of your Will, the lawyer and his assistant will witness the signing of the Will.
Contents of a Will
A will template in Singapore will give you some idea on what to include in your Will. In general, you will need to include:
1. A list of your assets to be given to your beneficiaries.
2. A list of your debts. Your assets will be divided after your debts are paid off.
3. The beneficiaries of your Will (i.e. the people whom you are leaving your assets to).
4. The people to be appointed as guardians of your children, if your children are under the age of 21.
5. The executors to your Will (i.e. the people who will apply for a grant of probate to administer your assets). The executors need to be above the age of 21 years old, able to and willing to administer your assets. At least 2 executors will need to be named if there is at least 1 beneficiary under the age of 21.
6. A clause to revoke all previous Wills (if any). This is known as the revocation clause and is usually found at the top of a Will.
7. A residuary clause to distribute any remaining assets not covered in other parts of the Will.
CPF savings are not covered by Wills in Singapore and you can make a CPF nomination if you wish to distribute your CPF savings according to your wishes.
Do you need a lawyer to draft a Will or is a will template in Singapore sufficient?
This depends on the complexity of your Will. If your Will is a complex one, with many requirements and beneficiaries, a will template in Singapore will not be sufficient.
On average, wills lawyers in Singapore charge a sum of S$300.00 for a simple Will. Engaging a wills lawyer will ensure that all the requirements of a valid Will are met and the contents of your Will reflect your true wishes. It can be a small price to pay for accuracy and a piece of mind.
Contact us at +6598330314 (whatsapp) to have your Will prepared.
Our price list can be found here.
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