Wills & Estate Planning

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Plan now before it is too late!

If you don't plan your estate now, the Singapore government will do it for you by using Intestate Succession Act to distribute your assets when you pass on. This means that your assets may land in the wrong hands. Your family and loved ones may not get what you have intented them to have. You can avoid much problem and headache for your family if you have properly planned your estate.

Why Estate Planning is important?Picture

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 fair?


A Sad Story....



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 to:
        1.1.    Shortening of the time to apply for probate.  Thus reduce legal and admin costs.
        1.2.    Less chance of the distrubtion being challenged in court.  Such cases can be time consuming
                  and costly.

2.   The assets will be distributed according to the deceased's wishes.

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 planning?

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 it;

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 Analysis.  
 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 up
    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 accordingly whch 
    is the best way for you.

This is a chargeable services based on the amount of work required.


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