.png)
Estate Planning
The complete guide to protecting your legacy, family, and assets for generations to come.
Why Estate Planning Matters
Estate planning is not just for the wealthy. It's about ensuring your loved ones are protected and your wishes are honored when you're no longer around to speak for yourself. Without proper planning, your assets may not go where you intend, and your family may face unnecessary stress and legal complications.
A Wake-Up Call
Studies show that over 70% of Singaporeans die without a valid will. This means their estates are distributed according to intestacy laws, which may not reflect their actual wishes and can lead to family disputes.
Key Benefits of Estate Planning
Protect Your Loved Ones
Ensure your family is financially secure and knows exactly how to manage your affairs.
Minimize Taxes & Costs
Proper planning can reduce probate fees and ensure efficient wealth transfer.
Prevent Family Disputes
Clear instructions reduce conflicts and maintain family harmony.
Control Your Legacy
Decide exactly how and when your assets are distributed.
Writing a Will in Singapore
A will is a legal document that specifies how you want your assets distributed after death. In Singapore, a valid will must meet specific requirements under the Wills Act.
Requirements for a Valid Will
Age Requirement
You must be at least 21 years old to make a valid will in Singapore.
Written Form
The will must be in writing. Oral wills are generally not valid.
Signature
You must sign at the end of the will (or have someone sign on your behalf in your presence).
Two Witnesses
Two witnesses (not beneficiaries or their spouses) must be present when you sign and must also sign the will.
What to Include in Your Will
- Executor appointment: Who will carry out your wishes
- Asset distribution: How you want your estate divided
- Guardians for minors: Who will care for your children if both parents pass away
- Specific bequests: Particular items to specific people
- Residual estate: How to handle remaining assets
Important: Muslims in Singapore
Muslim Singaporeans' estates are governed by the Administration of Muslim Law Act (AMLA). Only 1/3 of assets can be distributed by will; the remaining 2/3 follows Faraid (Islamic inheritance law). Consult MUIS or an Islamic legal expert.
Lasting Power of Attorney (LPA)
An LPA allows you to appoint someone you trust to make decisions on your behalf if you lose mental capacity. Unlike a will (which takes effect after death), an LPA is for when you're alive but unable to make decisions.
Personal Welfare Decisions
- • Where you should live
- • Your daily care routine
- • Medical treatment decisions
- • Who can visit you
Property & Affairs Decisions
- • Managing bank accounts
- • Paying bills
- • Selling property
- • Managing investments
How to Create an LPA
Why Everyone Needs an LPA
Without an LPA, if you lose mental capacity, your family must apply to court to be appointed as your deputy. This process is costly ($3,000+), time-consuming (6-12 months), and stressful. An LPA costs just $75 to register.
CPF Nomination
Your CPF savings do not form part of your estate and are not covered by your will. You must make a separate CPF nomination to ensure your CPF monies go to your intended beneficiaries.
Critical: CPF Is Separate from Your Will
Without a CPF nomination, your CPF savings will be distributed according to intestacy laws (non-Muslims) or Faraid (Muslims), which may not align with your wishes.
Types of CPF Nominations
Standard Nomination
CPF savings distributed directly to your nominees upon death.
- • Simple and straightforward
- • Nominees receive lump sum
- • Good for adult beneficiaries
Enhanced Nomination Scheme
Appoint a third party to receive and manage funds for your beneficiaries.
- • Great for minor children
- • Protects vulnerable beneficiaries
- • More control over distribution
How to Make a CPF Nomination
- Log in to CPF website with Singpass
- Go to "My Requests" > "Make/Change Nomination"
- Enter nominee details and percentage allocation
- Two witnesses must be present (cannot be nominees or their spouses)
Review Your Nomination Regularly
Life changes such as marriage, divorce, birth of children, or death of nominees should trigger a review of your CPF nomination. Marriage automatically revokes any existing nomination.
Trusts in Singapore
A trust is a legal arrangement where assets are held by one party (trustee) for the benefit of another (beneficiary). Trusts offer more control and flexibility than wills for complex estate planning needs.
When to Consider a Trust
Minor Children
Ensure funds are managed responsibly until children reach a suitable age
Special Needs Family Members
Provide ongoing care without affecting government benefits
Business Succession
Smooth transfer of business interests across generations
Asset Protection
Shield assets from creditors or irresponsible beneficiaries
Types of Trusts
Living Trust (Inter Vivos)
Created during your lifetime; can be revocable or irrevocable
Testamentary Trust
Created through your will; takes effect after death
Insurance Trust
Life insurance proceeds held in trust for beneficiaries
Discretionary Trust
Trustee has discretion on how to distribute income and capital
Insurance Policy Nominations
Like CPF, insurance policy proceeds may not automatically follow your will. Understanding how to properly nominate beneficiaries ensures your insurance payouts go to the right people.
Types of Insurance Nominations
Revocable Nomination
- • Can be changed anytime
- • Proceeds form part of estate
- • Subject to creditors' claims
- • May require probate
Irrevocable Nomination (Trust)
- • Cannot be changed without nominee's consent
- • Proceeds paid directly to nominees
- • Protected from creditors
- • Faster payout
Section 73 Trust (Insurance Act)
A Section 73 trust nomination creates a statutory trust for your spouse and/or children. This protects the policy proceeds from creditors and ensures funds go directly to your loved ones without going through probate.
What Happens If You Die Without a Will
Dying intestate (without a valid will) means your assets will be distributed according to the Intestate Succession Act (for non-Muslims) or Faraid (for Muslims), regardless of your actual wishes.
Intestate Succession Act Distribution (Non-Muslims)
| Surviving Family | Distribution |
|---|---|
| Spouse, no children, no parents | Spouse gets everything |
| Spouse and children | Spouse: 50%, Children: 50% (shared equally) |
| Spouse and parents, no children | Spouse: 50%, Parents: 50% |
| Children only, no spouse | Children share equally |
| Parents only | Parents share equally |
| Siblings only | Siblings share equally |
Problems With Intestacy
- • Your partner (if not legally married) gets nothing
- • Step-children are not included
- • No control over timing of distribution to minor children
- • Extended family may inherit ahead of those you care about
- • Administration is slower and more expensive
Estate Planning Checklist
Use this checklist to ensure you've covered all essential aspects of estate planning.
Frequently Asked Questions
How much does it cost to write a will in Singapore?
Simple wills from professional will-writing services start from $200-$400. Lawyer-drafted wills typically cost $300-$1,500+ depending on complexity. Complex estates with trusts can cost significantly more.
Can I write my own will?
Yes, but DIY wills risk being invalid due to technical errors. For anything beyond simple situations, professional help is recommended to ensure your will is legally sound and comprehensive.
Does marriage revoke my will?
Yes, marriage automatically revokes any existing will in Singapore. You must make a new will after getting married. Divorce does not revoke a will but removes your ex-spouse as a beneficiary.
Who should I appoint as executor?
Choose someone trustworthy, organized, and capable of handling financial and legal matters. Many people appoint a spouse, adult child, or professional trustee. You can appoint multiple executors.
How often should I update my estate plan?
Review annually and update after major life events: marriage, divorce, birth of children, death of beneficiaries, significant changes in assets, or changes in tax/legal regulations.
Protect Your Legacy Today
Don't leave your family's future to chance. Our certified advisors will help you create a comprehensive estate plan that protects your loved ones and honors your wishes.