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Will Writing Singapore
Many Wills Are Not Contest-Proof!
Many of our clients share this when we review their will:
The lawyer took instructions from me and I wasn’t properly advised about the possible legal issues and potential conflict.
Quoting from a 2009 Court of Appeal case of Low Ah Cheow and Others v Ng Hock Guan and the Court observed that:
The preparation of a will involves serious professional responsibilities, which solicitors must uncompromisingly observe and discharge. Regrettably, it seems to us that, all too often nowadays, solicitors appear to consider the preparation of a will to be no more than a routine exercise in form filling. This is wrong. Before preparing a will, the solicitor concerned ought to have a thorough discussion with the testator on all the possible legal issues and potential complications that might arise in the implementation of the terms of the will. The solicitor ought to painstakingly and accurately document his discussions with and his instructions from the testator. He should also confirm with the testator, prior to the execution of the will, that the contents of the will as drafted accurately express the latter’s intention. A translation, if required, must be thoroughly and competently done. Half measures or the cutting of corners in the discharge of these serious professional responsibilities will not do. (Emphasis added).
Now, think about it:
If You Are A Solicitor, Would You Focus Your Time On Other Cases Which Earn More Or Charge Less Than $500 For A Will?
You be the judge.
Our legal counsels support our estate planning work which encompasses will writing. Financial and legal literacy is important to create effective structures to meet the changing demands of our clients.
The value that our estate planner provides go beyond legal advise and finds the most cost-effective approach to your estate plan.
Have you wondered what will happen to your asset or estate when you pass away without a will?
Why is it important to draft out a will document in Singapore?
What is the difference between a person who has a will compared to another who doesn’t have one?
We are able to assist you to understand the benefits of having a will drawn up and provide fast and efficient service to write your will.
But first, you may want to check out this video:
What Happens To My Estate When I Pass Away Without A Will?
When a person dies intestate or without a will, the person’s estate is subject to Intestate Succession Act. One of the deceased’s next-of-kin will be the Administrator and applies for the Letters of Administration.
The role of the Administrator is to administer the distribution of the deceased’s estate according to the Intestate Succession Act.
What is the Intestate Succession Act?
When a person dies without drafting a valid will, the estate of the deceased will subject to Intestate Succession Act. It is a “standard will” for anybody who doesn’t have one.
For example, when a single adult has a female partner who is yet to be legally married. If unforeseen circumstances happens, the estate will be distributed 100% equally amount the surviving parents.
The day that the person is legally married, the estate will have to be distributed equally between the surviving parents and spouse.
The day that the person has a child, there’s no more distribution to the parents. Does that resonate well with you? Many people whom I’ve spoken are not.
If there are no next-of-kin like brothers, sisters, uncles or aunties, it will be distributed to the government of Singapore.
Since I Am Covered Under The Law, Why Do I Still Need to Make A Will?
The most important question I have to ask you is whether do you want your estate to be distributed based on the law? Based on someone else telling you what you can do?
Or… Do you want to have full control of your own estate?
It is your asset.. It is your estate.. It is your money.. You spend your whole life building your wealth.. Why do you want another person dictates your distributions?
It takes longer time to process the Letters of Administration (a document needed when a person does not have a Will) compare to the Grant of Probate ( when a person have a Will written).
Previously, we understand that the Administrator distributions of the deceased’s estate and apply for the Letters of Administration from the court.
Similarly, when the deceased has a valid Will, the Executor will apply for the Grant of Probate. The Executor is appointed by the Testator (person making the will) and tasked to distribute the estate according to the instructions in the will.
I’m sure you’ll agree with me that it’s wiser and beneficial to write a Will.
What Are Some Of The Possible Assets That I Need To Plan?
There are quite a few things that we will consider and discuss when writing a Will during our Estate Planning process.
Some of the estates that we will discuss:
- Bank account(s)
- Your insurance policies (provided no insurance nomination is done)
- Shares of private company(ies)
- Investments including unit trusts
- Stocks and shares
Other than the assets, we will also discuss some of the potential issues like possible legal pursuits, marital issues or in the event of mental incapacity. For example, if a person is suffering from dementia, a Lasting Power of Attorney (LPA) documentation will help prevent locking of your finances.
And if you do have concerns to place your important Will document in a safe location so that when you pass away, your Executor is able to confidently locate the important Will document from a safe, secured and secured location, our will custody service will be able to safe keep and store your Will in a private environment.
How Much Does It Cost To Write A Will?
Our fee depends on the complexity of the Will. If there’s more customisation, the fee will be higher.
More customisation means more clauses added in the will. Hence, higher fees.
The Will starts from $520.
When you decide to engage us, we will collect a deposit of $520.
Note that there will be additional fees if you like to engage in other services like will custody service, having a testatmentary trust in the will, setting up a trust etc.
What If I Need Your Will Writing Service NOW?
We totally understand that if you or your loved ones are at the hospital bed and need our service immediately, please do not hesitate to call us straight away and our team will rush down to where you are to write your will.
Who Are We?
I am an Estate Planner and a licensee of Precepts Legacy (previously known as Rockwills), able to provide guidance on how to have a comprehensive estate planning using Wills and Trusts.
I can help you in writing your Will and introduce professionals from Precepts Trustee Ltd.
Want To Engage Our Will Writing Service?
If you would like to make a will, please contact us at (+65) 9380 2839 or you can fill up your questions in our enquiry form and we will connect with you shortly.