It is not uncommon for people in Singapore to have assets located overseas. You have foreign born persons who move to Singapore but keep assets overseas. You also have Singaporeans who are born in Singapore but studied overseas, have business overseas or invest overseas. Many of these people maintain overseas bank accounts or own overseas […]
Author: EzWills
Not listing children’s names -why it’s OK
In making a Will in Singapore or writing a Will there is no legal requirement that you have to state a person’s name in full if it is possible to identify that person some other way. The practice is to provide NRIC numbers. Doing so leaves no doubts. However, if a will maker states in […]
De facto or co-habitating couples without Wills
What happens if you are in a de facto relationship or co-habitating and pass away without a Will? Unless you are legally married Singaporean law doesn’t recognise the relationship. You will be deemed an unmarried single and your partner is ineligible to inherit your estate. Rules for distribution If a person passes away whilst resident […]
Dealing with Real Estate in a Will
“I have a private Property and HDB in joint names with my husband. How can I transfer my share to my two children in our Wills?” This was the question we were asked earlier this week. Simple Answer If both you and your husband make the usual “standard” Will that couples with children make (see: […]
Young beneficiaries and managing their inheritance
What can a will maker do about leaving a large inheritance to young children? As discussed in a previous post, children that lose both their parents will inherit at 21 if the parents die without a Will. At 21 the human brain is not fully developed. Leaving someone their entire inheritance at 21 to manage […]
Possible mistakes after a Will is written
Drafting or writing your Will yourself is a good thing. However, you may still make mistakes that may invalidate your Will. The following are just some of the possible errors a person make make in the process of doing their Will on their own. Making a Will but not signing it It is not unusual […]
Testamentary trust and the “problem” dependent
If you have a spendthrift dependent or one who is unable manage money instead of making him/her a beneficiary of your Will you should consider creating a Testamentary Trust in your Will to protect that person’s inheritance.
The Role of a Guardian appointed by a Will
The role of a person appointed as Guardian in a Will is to raise the children. Nothing else. The exception would be when the guardian is also appointed as the executor and trustee. Otherwise, the guardian does NOT get to manage the children’s inheritance. It’s the trustee that is solely responsible for management of the […]
Executor of a Will in Singapore
Who can be an executor of a Will in Singapore? In Singapore anyone over 21 years can be named as executor and trustee of a Will. A beneficiary in can certainly be made executor and trustee of a Will in Singapore. In fact, except for young beneficaries its usually a good idea to have a […]
How Section 26 of the Wills Act works if a child beneficiary of the will maker dies first
If a child beneficiary of a will maker dies before the will maker Section 26 of the Wills Act sets out the default outcome if the Will doesn’t provide for this situation.