Will Writing Singapore | Make A Will
Have you wonder what will happen to your assets or estate when you pass away without a Will?
Why is it important to draft out a legal Will document in Singapore?
What is the difference between a person that has a Will compare to another that does not have?
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 Happen 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. Usually one of the decease’s next-of-kin, will step out to be the Administrator.
The role of the Administrator is to administer the distribution of the decease’s estate. The Administrator will apply for the Letters of Administration with the court.
What is the Intestate Succession Act?
When a person dies without drafting a valid Will before he passed away, under the Singapore rule, the estate of the decease will be subjected to Intestate Succession Act. It is like a “standard Will” for anybody that does not have a Will drafted.
To give a practical example, when you are single adult and you have a female partner who is yet to be legally married, and if unforeseen circumstances happen, your estate will be distributed 100% equally amount your parent(s) equally.
The day that you are legally married, your estate will have to be distributed equally (50% each) between your surviving parents and spouse.
If there are no next-of-kin like brothers, sisters, uncle or aunties, then 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 that, do you want your estate to be distributed based on the law? Based on someone else telling you what you need to do?
Or… Do you want to have full control of your own estate?
Very simple thought..
It is your asset.. It is your estate.. It is your money.. You spend your whole life building your wealth.. Why do you want someone else to dictate how you should distribute your estate..
Just think about it…
And, one more point..
When you are applying for the Letters of Administration (a document needed when a person does not have a Will), it could potentially and possibly a much longer time compare when applying for the Grant of Probate ( when a person have a Will written).
Previously, we understand that the Administrator administrate the distribution of the decease’s estate and apply for the Letters of Administration from the court.
Similarly, in the event that the decease have a valid Will, the Executor will apply for the Grant of Probate. It is a court order to authorize the Executor to execute the distribution of decease’s estate according to the Will.
So, understanding the above two points, it really much wiser and beneficial to write your Will according to your wish.
What Are Some Of The Possible Assets That I Will 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
- Company shares
- Investments including unit trusts
- Stocks and shares
- Foreign assets like overseas properties, overseas bank account and etc.
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 safekeep and store your Will in a private environment.
Additionally, we might also discuss the possibility of setting a trust fund and appoint the trust company to be your Trustee.
How Much Does It Cost To Write A Will?
Do you know that you can have a basic Will written for as low as $388?
Yes, it is that affordable!
Well, we totally understand the importance of having a Will drawn up and we think that this should be made affordable to everyone that wants to write a Will.
However, if you have more complex situation or more beneficiaries that you want to distribute to, the cost is slightly more but it is definitely affordable.
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?
Our preferred partner, FortisWills Pte Ltd, is a leading Will Writing company that has assist and helped numerous business owners and individuals to draft their Will during our Estate Planning process. Our group of competent and professional Will Writers are trained to understand the complexity of your business and your life.
After understanding, we will be able to guide and assist you to write your Will.
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.
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No matter how complex the situation is, we will do our best to assist in planning and developing an actionable solution for your asset distribution and protection.
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