Making a Will
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The below frequently asked questions are extracted from SingaporeLawFAQ.com.
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What is a Will?
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A Will is a piece of paper prepared by you (or on your behalf) in which you decide who will get all your assets after you die. This will only take effect after your death.
In the meantime, all the assets still belongs to you.
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Can I change my Will after it had been signed?
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Yes. You can change your Will anytime before your death.
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How to write a will?
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A Will must have the following:
- Your name (NRIC or passport no) and address
- Appointment of one or two executors/trustees (He or she must be above 21 years old and of sound mind) ?This is a person who will take care of your estate and distribute your estate in accordance with your wishes indicated in the Will.
- Beneficiaries ?The persons who will be given your assets in your estate. Your estate means all your assets consisting of properties, shares, cash in the bank, CPF monies (if you have not signed the nomination form) etc.
- Your signature ?You must sign your Will in the presence of two witnesses. Both of them must be present at the same time when you signed your Will. These two witnesses must not be your executor/trustee or your beneficiaries.
- You must give away all your assets.
- The easiest way to write a Will is to divide all your assets in percentage terms and give away a percentage of your assets to each of your beneficiaries.
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Must I get a lawyer to write a Will?
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Not necessary if you are confident in your ability to follow the above instructions and your Will is simple. Refer to sample will.
It will only be required if your Will is complicated or if you would like a lawyer to explain in greater details the legal implications of a Will.
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If I have no Will, when I die, will the Government take my property?
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If you do not have a Will, your assets will be distributed in accordance to the Law (known as the Intestate Succession Act, does not apply to Muslims). The Government will only take your property if you have no surviving relatives.
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What about my CPF funds?
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If you have nominated a beneficiary in the nomination form, CPF Board will forward your CPF money to the Public Trustee who will pay the money to your beneficiary. If you have not nominated a beneficiary, the money will go to your estate (together with the rest of your assets) and paid to whoever is entitled to your estate, either under your Will or according to Law (known as the Intestate Succession Act, does not apply to Muslims).
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What will happen if I die and I do not have a Will (This applies to non Muslims only)?
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If you do not have a Will, your assets will be distributed in accordance to the Law (known as the Intestate Succession Act, does not apply to Muslims), which is as follows:
Rule No |
Survivors (relative still
living) (Wife can also apply to Husband) |
Share of estate (i.e deceased's
assets) |
1 |
Wife no children no
parent |
Wife gets
everything |
2 |
Wife Children |
Wife - 1/2
share Children - 1/2 share (divided equally between all
the children) |
3 |
Wife Parents no
children |
Wife - 1/2
share Parent - 1/2 (divided equally between
them) |
4 |
Parents No wife & no
children |
Parents gets everything -
divided equally between them |
5 |
Brothers & sisters No
parents, no wife, no children |
Brothers and sisters divide the
assets amongst themselves equally |
6 |
Grandparents No parents, no
wife, no children, no brothers or sisters |
Grandparents divide the assets
amongst themselves equally |
7 |
Uncles & aunts No
grandparents, no parents, no wife, no children, no brothers or
sisters |
Uncles and aunts divide the
assets amongst themselves equally |
8 |
No surviving relatives such as
above |
Government takes
all |
Note: Children of dead brothers and sisters will be
entitled to their parents' share in the assets (Under Rule 5).
Similarly, if one of the children (entitled under Rule 2) was dead, his
children will take his share. If there is such a case, check with
your lawyers
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What is estate duty?
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This is a tax to be paid to the Government on your estate (which consists of all your assets at the time of your death). The tax is as follows:
- First $12 million - 5%
- Thereafter - 10%
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When will estate duty be payable?
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Only in the following circumstances:
- The value of your dwelling houses is more than $9 million.
- All other assets i.e. shares, cash in bank, CPF monies etc is more than $600,000
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Is there any difference on the estate duty payable on my estate whether if I have a will or not?
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No
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What is an administrator and executor?
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An administrator is a person appointed by the Court to manage your estate in the event that you have not left a Will.
An executor is a person appointed by you in your Will to manage your estate.
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When is a Will considered revoked? (revoke means to cancel the will)
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- In writing by another Will or
- Burning or
- Tearing or
- Destroying the Will.
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