You are a responsible person and you have written a will. But where to store it (or hide it)? You do not want to tell the whole world that you have a will, yet someone has to be able to find it if you pass away. In Singapore, there is no central storage area for Wills, […]
Does a will override all insurance nominations?
If you have made will, you know the importance of making your asset distribution clear so no confusion for your family members. But have you made an insurance nomination previously? Do you remember who were the beneficiaries? Do you need to revoke the nomination before the instruction in the will takes effect?
What happens to your HDB if you pass away
Most of the HDBs in Singapore are held in joint tenancy. Under joint tenancy, if one of the flat owners passes away, the deceased joint tenant’s share or interest in the flat will be passed on to the surviving joint tenant(s). For example, husband and wife (both above 21 years old) are holding the flat […]
What will happen to your Malaysia property if you die?
With sky rocketing property prices in Singapore, many Singaporeans have moved their investment into Malaysia properties. But when you own million dollar property assets in Malaysia, have you ever thought about this question: “What will happen to your Malaysia properties if you die?”
How is property gifted by spouse treated upon divorce
Released on Thursday, the Court of Appeal made this clear in decision grounds in the case of a woman who had been given shares to three properties by her husband during their 36-year marriage. GIFTS between spouses in the course of a marriage will be treated as matrimonial assets to be totted up and split […]
How are assets distributed if a person dies without a will
When a person (non-Muslim) dies without leaving a will, he is said to have died intestate. Sometimes, even if a person has a will, the will may not be properly drafted and certain assets are left out of the will. These assets will fall into intestacy. In Singapore, The Intestate Succession Act (Cap. 146) applies […]