Are you looking for a lawyer for Will writing in Singapore? A Will is a legal document that stipulates your wishes for the distribution of your assets after your death. You may also appoint a legal guardian for your minor children. You may also indicate your preferred funeral arrangements.
Will Writing in Singapore
You will appoint a trusted person (i.e. executor) to distribute your assets and a guardian to take care of your children in your Will.
The executor will apply to Court after your demise for a grant of probate, allowing him/ her to manage your estate.
Appointing a guardian is important especially if both parents are to pass away at the same time, or one after another. If a guardian is not appointed for a child under the age of 16, the child will be placed under the care of the MSF. You may also provide for the scope of the guardian’s powers in your Will.
Passing Away Without a Will
For a person who passes away without a Will, the assets will be distributed according to the Intestate Succession Act.
For instance, if you are married with children, 50% of your assets will go to your spouse and the other 50% will go to your children. Your parents and other family members will not receive your assets. This may or may not be your wish. If it is your wish that your other loved ones be protected and receive a portion of your assets, you should consider engaging a lawyer for Will writing in Singapore.
Separately, you should note that the following assets are usually not distributed by way of a Will:
1. Joint-tenanted properties. The surviving co-owner will receive the whole share automatically.
2. CPF monies. You should nominate a beneficiary with CPF board.
3. Insurance monies. You should nominate a beneficiary with the insurer.
Questions to Consider for Will Writing in Singapore
You may wish to consider:
1. The assets which you wish to distribute under your Will. The assets that you wish to distribute may include immovable properties, monies in bank, investments such as shares and valuables such as jewelleries and antiques.
2. How do you wish to distribute the assets?
3. What will happen if your beneficiary passes away together with you? What will happen to his/ her share? You may wish to include a substitute beneficiary who will inherit the deceased beneficiary’s share.
4. Who is the trusted person you wish to appoint as your executor to manage your estate?
5. Who is the trusted person you wish to appoint as guardian of your children?
6. What are your wishes for your funeral arrangements?
7. Do you need a lawyer to prepare your Will? If you do not, are you certain that you are able to prepare a Will and execute it to fit all legal requirements? For instance, you will need 2 witnesses to witness your signing. If you have a beneficiary who is a minor, you will need to appoint 2 executors. These are legal requirements which you should be aware of and able to fulfill.
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