Writing a will is something many of us want to do but never get around to doing it. However, if you want your wishes to be respected after you have passed on, it is important to make a Will. Otherwise, your estate will be divided according to the Intestate Succession Act and some of your nearest and dearest may not inherit anything. Writing a valid Will should be done by a professional wills lawyer, so contact PKWA Law today.
PKWA Law is ranked by the Straits Times as one of Singapore’s Best Family Law Firms.
For the last 30 years, we have provided Will writing services for our clients. A comprehensive estate plan is important in order to ensure that your assets are protected in the event of death. PKWA Law will work closely with you to customize a plan that achieves your specific goals.
Main requirements for a valid Will
The testator (the person writing the Will) must be over the age of 21.
The Will must have be made by a person who is of sound mind who signs the Will voluntarily and without duress.
The Will must be in writing.
The Will must be signed in the presence of two witnesses. The two witnesses cannot be beneficiaries of the Will, or married to a beneficiary of the Will.
Our Will writing fees – what does our fee of $500 for your personal will cover?
Our fees are $500 for a Personal Will and $300 for a Lasting Power of Attorney (form 1). If you do both your Personal Will and LPA together, our fees are just $590 (instead of the usual $800).
Your Personal Will at $500 will include the following basic provisions:
Personal particulars of client;
Appointment of up to 2 executors & trustees. They will ensure that your wishes are carried out.
Appointment of up to 2 guardians to take care of your minor children.
Defining the rights and powers of executor & trustee;
Standard provision for leaving your assets to your beneficiaries.
Distribution of residuary estate.
Having a predecease clause, that is, what happens when one of your beneficiaries passes away.
Free translation for non-English speaking clients;
Witnessed by 1 lawyer and 1 staff.
Our fees of $500 are not applicable if you require additional clauses and/or additional services. In such a situation, additional fees may be charged based on the additional work and services required.
WHY YOU SHOULD MAKE A WILL
1. It gives you control over the distribution of your assets
If you did not make a will, your assets will be distributed according to the intestacy regime.
This is a set of statutory rules with pre-determined beneficiaries.
You will thus have no control over who will receive your assets in an intestacy situation.
2. You can make special provisions for your children, dependents, and non-family members
You can leave instructions for other arrangements, e.g. appointing a guardian for your children or setting up a trust for them
You can also make bequests to non-family members, who would not be entitled to receive anything in an intestacy situation
3. If you are divorced, you should make a new will
Divorce does not render a previous will made during the marriage invalid.
If you have remarried, you would need to make a fresh will to provide for your new family. You may also want to remove your ex-spouse from your will.
4. It’s less stressful for your family and reduces conflict in your family
Death is always hard on one’s family and loved ones – grief and bereavement are difficult enough to deal with without the various administrative tasks that need to be seen in the wake of death.
Making a will reduces the burden on your family as they know that you have made provisions for them.
When you have made a will, you reduce the risk of unhappiness between family members over their entitlement to the assets.
5. It makes administering the estate much quicker and cheaper
Where someone passes away without leaving a will, the deceased’s family members have to apply for a Grant of Letters of Administration before the assets can be distributed.
This costs more than the probate process (where there is a will), takes longer, and can be more stressful for your family.