Why Estate Planning is important?
Singaporeans are assets rich and most of them are not cash
rich. Even a simple HDB flat can costs hundreds of thousands dollars. If you add the CPF and
insurance monies, the total can be very substantial.
So if one dies without any estate planning, his assets will be
distributed according to the Intestate Succession Act, which spelt out the persons who will be entitled for a share
of his assets.
From a glance, the distribution
table seems to be fair. However, it may not be so. Example if a couple without any children both die in
a plane crash. Both have surviving parents. In such scenario, the court will rule that the man, being
older, deems to die first. 50% of the man's estate will go to the wife's estate and the 50% goes to his
parent. 100% of the wife's estate plus the 50% of her husband's will go to her parent. Is this
What benefits and
advantages do I have in Estate Planning?
Estate Planning involves the usage of Will and Trust. With a proper Estate Planning, the
following benefits can be derived:
1. The estate assets can be protected due
1.1. Shortening of the
time to apply for probate. Thus reduce legal and admin
1.2. Less chance of
the distrubtion being challenged in court. Such cases can be time
2. The assets will be distributed according to the deceased's
3. Proper provisions can be made for minor children -- e.g appointing
a guardian and trustee.
4. One is ensured of getting the right people to act as executor to
distribute his assets. Without a Will, the
family members will need to apply to court for a letter of adminisration. Appointing an administrator can
be very problemetic as many will fight for
the rights to be admininistrator. On top of it, the court will ask
the administrator for 2 sureties for the same value of
the estate before he or she is appointed.
Ultimately, one will have the peace of mind that he or she has made
adequate provisions for his or her loved ones.
How to do an estate
You can simply walk in to any lawyer's firm and ask them to do a Will
for you based on your wishes.
And if you ask them to do a proper estate plan for you, they will charge you handsomely for
OR you can save money by following our process:
1. Attend our FREE Estate Planning
Seminar Pre-registration requires.
2. Before I retired as a financial planner in 2016, I am trained
in Estate Planning, to do a detailed Estate Planning
Although I will charge a nomincal fee for
estate planning, the fees is nominal compared to the amount of money
one can saved.
3. After the analysis, you can go to a
lawyer's office or a Wills & Trust Testament company to write
a Will based on the findings we have discovered. Depending on your needs for a Will writing, trust setup
and / or utilising offshore companies in tax haven to hold your assets, we will advise you
is the best way for you.
This is a chargeable services based on the amount
of work required.
Free Seminars Registration
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