A valid Will helps to secure your family’s financial future. Your Will ensures that your assets will be shared among those you have chosen. If you did not make a Will, the Intestate Succession Act will decide who gets your assets.
Make a will in Singapore
One of the most important – and simplest – financial planning you should do is to make a Will. This is to ensure that your affairs are properly looked after, and that your assets will go to those who are close to you.
Where a person passes on having left a Will, their estate is said to be testate. If no Will exists or a Will is found to be invalid, their estate falls into intestacy and the Intestate Succession Act governs who your assets go to. You will have no say. To read up on who gets your assets if you did not make a Will, please click here.
When you decide to engage a Singapore Will Lawyer to make your Will, you are preparing for your family’s future without you. Making a Will represents the biggest step in financial and legal planning you can do for your family.
A Will also reduces disputes that can arise among members of your family regarding the distribution of your assets in the unfortunate event of your death.
Along with your Will, we also recommend that you consider making a Lasting Power of Attorney. Your Lasting Power of Attorney is a legal document in which you appoint a Donee to make decisions and act on your behalf should you lose mental capacity one day. A donee can be appointed to act in the two broad areas of personal welfare and property & matters.
What should a Will include?
Your Will should state:
That this is your last Will.
That you revoke all previous Wills.
Who you appoint as your Executor.
The beneficiaries and guardians for minor children and how much each one is to receive.
A residuary clause.
Basic Personal Will – $500
Lasting Power of Attorney – $300
If you do a Will & LPA at the same time – $590
FREE CONSULTATION IF YOU WISH TO MAKE A WILL
The Will lawyers at PKWA LAW have assisted many individuals and families to draft their Wills and LPAs. Please contact us at tel 6854-5336 for a free first consultation.