Making A Will

[osim]

Www:

If you own a hdb flat, and inherit another hdb flat, need to sell off one?


If sell off the inherit hdb flat, will part of the money bounce back to parent's cpf account and distribute to siblings?

I am not sure but I don't think you need to sell off the inherited flat as you don't inherit the flat per se but you inherit the money when the asset is liquidated.

Those who inherit this asset has to agree to sell and the money is distributed according to the dead person's will or whatever rule applies for someone who died intestate.

[Www]

osim:

Www:

If you own a hdb flat, and inherit another hdb flat, need to sell off one?


If sell off the inherit hdb flat, will part of the money bounce back to parent's cpf account and distribute to siblings?

I am not sure but I don't think you need to sell off the inherited flat as you don't inherit the flat per se but you inherit the money when the asset is liquidated.

Those who inherit this asset has to agree to sell and the money is distributed according to the dead person's will or whatever rule applies for someone who died intestate.

http://askhdb.hdb.gov.sg/FA/Hybrid/Themes/HDB/displayresult.asp?MesId=4671012
Not allow to own 2 hdb flat after inherit.

Anyone knows if sell off the inherit hdb, will the money bounce into the parents' cpf account and then distribute according to the cpf will made?

[karenmok]

osim:

What is the best way to do a Will?


Is it better to go direct to lawyer or do it via Will Writer? Which is cheaper or more reliable? Are Will Writers professionally liable?

If a Will is made and registered with the IPTO (public trustee) already, how frequent can you make an update and do the updates need to be done by the same lawyer or can I do my own update since I am allowed to write my own Will in the first place.

Would appreciate any input from anyone who has done this before.

Maybe this free session will help you learn a few things. 14-Sep-2013 at Bedok

http://one.pa.gov.sg/CRMSPortal/CRMSPortal.portal?_nfpb=true&_st=&_windowLabel=CRMSPortal_1&_urlType=render&_mode=view&wlpCRMSPortal_1_action=ACMParticipantMaintain&_pageLabel=CRMSPortal_page_1&IdProdInst=20339324&CWT=

[Blue Pearl]

would there be any free session in other places

[hercules]

Attended a will workshop and listened to this Q&A and found it interesting to consider for those divorcees:


If A and B divorced and have a kid. Custody of kid belongs to A.

Then A went holidays with the kid and both got into a fatal accident.

A died and kid followed within a few days.

A has no will.

So A’s assets will pass to kid and then the deceased kid will pass to the divorced B.

Emmm… (so the solution is to have a will that incl kid must survives x period after A else the assets will be distributed to xxx, yyy, zzz, etc, if A doesn’t want B to have any part of her assets).

-------------

Husband (age 30) and wife (age 32), no kid, no will, but each with own extended family, went holidays and met a fatal accident and both died on the spot.

Quiz Question: Who will get the money?

[starlight1968sg]

hercules:

Husband (age 30) and wife (age 32), no kid, no will, but each with own extended family, went holidays and met a fatal accident and both died on the spot.

Quiz Question: Who will get the money?

The extended family will get the $$?
Cant be Ah Gong, right?

[floppy]

starlight1968sg:

hercules:

Husband (age 30) and wife (age 32), no kid, no will, but each with own extended family, went holidays and met a fatal accident and both died on the spot.

Quiz Question: Who will get the money?

The extended family will get the $$?
Cant be Ah Gong, right?

Everyone can only die in 1 of 2 ways: testate or intestate.
If one dies intestate - i.e. die without a will - there's an established model answer to follow. The Intestate Succession Act (can't link the URL but you can google for it) rules for distribution (Rule 1 to Rule 9), establish how the intestate personal assets will be distributed.

Hence, for the quiz question, you apply the rules, running through from Rule 1 to Rule 9, until one fits the scenario. Btw, Rule 9 says: \"In default of distribution under rules 1 to 8, the Government shall be entitled to the whole of the estate.\" :evil:
So, yes, there's a possibility that Ah Gong will take your money.

[hercules]

starlight1968sg:

hercules:

Husband (age 30) and wife (age 32), no kid, no will, but each with own extended family, went holidays and met a fatal accident and both died on the spot.

Quiz Question: Who will get the money?

The extended family will get the $$?
Cant be Ah Gong, right?

If I heard the answer correctly:

The older one between the two (the wife) will presume die first if timing of death cannot be ascertained.

So, her assets will pass on to the younger spouse (husband).

Then husband dies.

Then husband's assets and whatever he 'inherited' from his wife will pass on to his own extended family (his parents, if no parents, his siblings, etc). Wife's extended family will get nothing if husband's extended family doesn't wanna 'share'.

[Coolkidsrock2]

That is my understanding.

[amizade]

floppy:

starlight1968sg:

[quote=\"hercules\"]
Husband (age 30) and wife (age 32), no kid, no will, but each with own extended family, went holidays and met a fatal accident and both died on the spot.

Quiz Question: Who will get the money?

The extended family will get the $$?
Cant be Ah Gong, right?

Everyone can only die in 1 of 2 ways: testate or intestate.
If one dies intestate - i.e. die without a will - there's an established model answer to follow. The Intestate Succession Act (can't link the URL but you can google for it) rules for distribution (Rule 1 to Rule 9), establish how the intestate personal assets will be distributed.

Hence, for the quiz question, you apply the rules, running through from Rule 1 to Rule 9, until one fits the scenario. Btw, Rule 9 says: \"In default of distribution under rules 1 to 8, the Government shall be entitled to the whole of the estate.\" :evil:
So, yes, there's a possibility that Ah Gong will take your money.[/quote]
wow! thanks for sharing that! I didn't know it could be so complicated