Introduction Having a will is important towards family legacy planning. While this is true, many individuals, particularly those who have opted with DIY wills without any guidance or advice from a legal professional, end up leaving a trail of unintended outcomes that deviate from their original intentions. This month’s Family Legacy Planning newsletter will explore […]

Introduction Real Estate: An asset class that all of us strive to own and pass down as heirlooms to the future generation. It is a common-known fact, however, that real estate, especially in land-scarce Singapore, is an extremely capital-intensive investment which may often require individuals to come together and pool their resources in order to […]

Introduction People are becoming increasingly aware of the need for legacy planning, yet nowadays, it is still not uncommon to find people who die without a will. Procrastination and a misconception that it is costly to draw up a will are perhaps some of the reasons that explain this situation. Inevitably, there are some out […]

Introduction Legacy planning has always been one area that people have overlooked or paid insufficient attention to. Thankfully, people nowadays are beginning to increasingly understand the importance of legacy planning – ensuring that their intentions are given effect, that the whole probate process is smooth and the administration does not encounter any untoward hiccups, and […]

Introduction Traditionally, estate planning is done for one’s physical and financial assets. Some examples of physical assets include real estate, expensive jewellery, and valuable artworks, whereas some examples of financial assets include money in bank accounts, equity, and insurance policies, However, digital assets are often overlooked by most people when they do their estate planning. […]

Introduction In our March 2022 Family Legacy Planning newsletter, we published an article discussing the importance of having a carefully drafted will, which goes a long way in properly safeguarding an individual’s wishes on how their estate is to be distributed following their demise. A carefully drafted will avoids complicating the distribution process as well […]

Introduction There have been recent discussions about family legacy planning whether it is about drafting a Will or looking at Lasting Power of Attorney (LPA) as some of us faced unexpected passing of family members in the midst of this pandemic. In this month’s writeup, we will explore a case that points out the common […]

Introduction In our November 2021 Family Legacy Planning newsletter, we published an article discussing the importance of a Lasting Power of Attorney (LPA). As a brief recap, the LPA is basically a legal document allowing a person (“donor”) at least 21 years of age to appoint their trusted person as a donee. In the LPA, […]

Introduction In this newsletter, we will be looking at the potential instrument that families can consider to avoid estate dispute. In the event where a will was left behind causing a lot of unhappiness amongst the beneficiaries on the testator’s demise rather than to bring it to court, if they can compromise and agree on […]

Introduction This month’s family legacy planning article will look at the options available for families to incorporate charitable gifting as part of their estate planning. Amid a crisis like the COVID-19 pandemic, Singaporeans’ support of the less fortunate and worthwhile causes has shined through. Institutions of a Public Character (“IPCs”) received $1.01 billion in 2020 […]

Introduction In this month’s family legacy planning article, we will look at the importance of the Lasting Power of Attorney (LPA). The LPA is a legal document which allows a person (“donor”) who is at least 21 years old to appoint his/her trusted persons (“donee”) to manage his/her affairs in the event of losing mental […]

Introduction Whilst many people would be familiar with the concept of a trust, not many would be aware that the Will can sometimes be used to create a species of trust known as the “Testamentary Trust”. This type of trust is very useful for legacy planning involving beneficiaries who are young or have special needs. […]

Introduction It can be readily accepted that we ought to plan for future unpleasant events, which may include our loss of mental ability, or mental capacity, to manage our own affairs. In Singapore, such forward planning would take the form of a lasting power of attorney (“LPA”), which would be executed through two different prescribed […]

Introduction You have made your Will during your lifetime and the Will is meant to be executed by your chosen executor on your demise. Your chosen executor then needs to engage a lawyer to apply for the court application called the Grant of Probate and one of the requirements by the court is that the […]

Introduction A Will is a legal document which enables a person to decide on how his or her assets are to be distributed following his or her passing. However, there are many types of Wills that can be drafted and one may wonder how a Will should be drafted for it to be in line […]