Estate Planning Singapore | Inheritance Planning

What is Estate Planning?

Estate Planning is about how you want to distribute your assets according to what you wish for when you leave this world. Your assets may include house, motor vehicle, insurance policies, shares in the company and monies in the bank.

So, when you pass away, all these assets, as a whole, constitute to your estate.

Think about it:

If there is no proper planning on how to distribute your estate, will it be a mess and will your family be assured of their future?

If you did not make a Will, what will happen to all your estate?

If you have make a Will, where should you store the will so that your Executor (the person that administrate the distribution of the estate according to the Will) is able to find the Will and submit to the court?

If you have a growing children who are still minor, could setting up a trust be an option?

Would you want to have a human that may make mistake to be your Trustee or a Private Trust Management Company to act as your Trustee for more assurance?

Lastly…

What if you are suffering from dementia and not able to make decision for yourself, how can applying for a Lasting Power of Attorney (LPA) help?

These are some of the questions that we will ask you and guide you so that you can make a more informed decision when it comes to your inheritance planning.

At Estate Planning Singapore, our estate planning specialist understands that Singapore is becoming an increasing affluent society with complex situations. Therefore, our wide range of comprehensive Estate Planning Solutions could help you to safeguard your assets.

The first step is to step out and make your will. If you don’t, your will will be subjected to the Intestate Succession Act in Singapore and there’s nothing your family can do. They just have to wait for the court’s decision.

We promise and strive to provide our services with utmost professionalism and privacy to protect the interest of our customers.

Estate Duty in Singapore

Estate Duty is a tax that is bestowed onto the decease based on the total market value of the person’s assets.

However, after 15th February 2008, Estate Duty has been removed and there is no requirement to pay this tax anymore under the Estate Law.

What Constitute To My Estate?

These are some of the possible properties or assets that we will discuss during our Estate Planning process:

1. Real Estate Properties [ Housing Development Board (HDB) Shop-houses, Commercial Property, HDB Flat, Vacant Land]
2. Business as a sole proprietor or partner
3. Shares of a Private Company
4. Public Listed Shares in Singapore
5. Cash, Central Provident Fund (CPF) Investment Account, accounts with financial institutions
6. Insurance policies
7. Motor Vehicles
8. Claims for damages due to an accident
9. Funeral arrangements
10. many more…

There are many other assets or estates that we will discuss and it is important that you contact our professional Estate Planners so that we will be able to assist and guide you.