<![CDATA[Estate tax after a person passed away]]>I agree with hophlng


Whether one should have a will written (and written by someone profession) depends. Time (to distribute assets) matters. Having someone professional to write for you helps you to clear blindspots, make it precise and acts as a witness. If you have good knowledge on estate planning, chances are you wouldnt ask this question. If you are ever getting someone to write, get the person to educate you, because it really helps (and its free education)

]]>https://forum.kiasuparents.com/topic/83056/estate-tax-after-a-person-passed-awayRSS for NodeTue, 28 Apr 2026 17:05:52 GMTSun, 24 Jan 2016 15:57:18 GMT60<![CDATA[Reply to Estate tax after a person passed away on Sun, 24 Jan 2016 15:52:25 GMT]]>

kc007:
Anyone can advise me if me & my wife should get a will written? If I pass on, I plan to distribute everything to my wife for the long term benefit of my kids (50% each). However my concern is if my wife & I both pass on together, I want to split everything equally between my 2 kids (who are still babies btw) & I only want my sis in law to oversee the will. My sis in law is an Indonesian residing in Indo, I got a Singaporean brother in Singapore but we do not want to rely on him. If we both pass on before they are adults, it needs to be slowly provided to the 2 babies/kids for their benefit (education, daily expenses etc).


Thanks.

Hi Koo, let me attempt to answer your question since that's one of my main profession. Will writing and Estate planning can be very separate issues. Estate planning include will writing, but will writing can't encompass estate planning ecause the person needs to have both financial and legal knowledge.

1) If pass on, plan to distribute everything to wife for the long term benefit of my kids (50% each).
A: Your wife & children will get your net estate by intestate law of succession. But you have to clearly know what is what you OWN and what is not yours. An example, a HDB that has 70% loan technically means the house is under the bank or HDB. if your wife not able to pay, you actually translate assets as \"debts\" to her. That is when proper estate planning comes into place to ensure that your family becomes debt-free and have a shelter over their heads when suddenly something happens to you.


2) if wife & you both pass on together, you want to split everything equally between your 2 kids (who are still babies btw) & you only wantyour sis in law to oversee the will.
A: Appoint your sis in law as executor. IF you have a plan for how you intend your children to grow up (when they start getting certain money, etc), put under will and make your sis in law as executor, subject her rights and powers of administration to administrate your will. (for those estate less than $50k, can apply to Public Trustee’s Office to act for you, if not State courts and High Courts will be involved.) If your brother is really that bad that you do not wish to leave assets for him, then you have to include in your will. IF not, should anything happens to your children, then they will execute accordingly to intestate law again (and your bro might get share then). But there is this thing call moral hazard, which is that your brother might affect your sis-in-law emotions since (i'm assuming) they are tgt. Their r/s lines might be strained (i'm not sure if there is any issue between you and your bro)


FYI Meaning of “net-estate”
It is important to understand the meaning of net-estate (or net assets) because there are assets (of
the deceased) which are not distributable under section 7 of the Intestate Succession Act. These
assets are:
a. Joint tenancy properties;
b. Financial assets (e.g. bank deposits) held in joint-ownership;
c. Life insurance policies nominated under Section 73 (Trust Nomination) of Conveyancing &
Law of Property Act;
d. Life insurance policies nominated under Section 49L (Irrevocable & Trust Nomination) or
Section 49M (Revocable Nomination) of Insurance Act;
e. Life insurance policies which have been absolutely assigned to a 3rd party;
f. CPF funds which have been nominated under Section 25 of CPF Act;
g. Business interests which have been contractually set up under a buy-sell agreement;
h. Current and contingent debts incurred by the deceased must also be settled before the
estate can be distributed.


my 2 cents.

]]>https://forum.kiasuparents.com/post/1633334https://forum.kiasuparents.com/post/1633334Sun, 24 Jan 2016 15:52:25 GMT<![CDATA[Reply to Estate tax after a person passed away on Fri, 06 Nov 2015 06:32:13 GMT]]>

mistral77:
If there a difference with doing a will and not doing one?

There is a big difference.

It determines whether a Grant of Probate (if there is a Will) or Grant of Letters of Administration (in Intestacy) will be issued by the court to handle the distribution of assets.

If the will is valid and up to date a Grant of Probate can be issued and it will speed up the distribution od assets.

If not a letters of administration will be issued and the distribution of assets can take place between 12 to 18 months. Will your beneficiary be able to survive on their own during the 12 to 18 months period?

]]>https://forum.kiasuparents.com/post/1601988https://forum.kiasuparents.com/post/1601988Fri, 06 Nov 2015 06:32:13 GMT<![CDATA[Reply to Estate tax after a person passed away on Tue, 06 Oct 2015 05:38:31 GMT]]>There is an FAQ on Estate Planning. Do note that the views are of the author, who is not of the view to simply ask lawyers to write the will, but will specialist.


http://bit.ly/WillWriting

]]>https://forum.kiasuparents.com/post/1588922https://forum.kiasuparents.com/post/1588922Tue, 06 Oct 2015 05:38:31 GMT<![CDATA[Reply to Estate tax after a person passed away on Tue, 06 Oct 2015 00:39:53 GMT]]>Agree. Whilst one can do a will simply, a lawyer can insert those provisions to make it airtight.


Some stuff I recall is:
- when do you want your kids to have access to the monies (21? 25? any other age),
- if hubby pass away, what happens; if wife pass away what happens. FYI. if both were in say a plane crash and time of death cannot be determined, the law will assume that the older one died first (this is important in determining distribution of assets),
- named executor of will (must be someone who is willing and able to carry out duties, and best to have more than one in case that person passes away).

Note that some stuff cannot be willed away. Eg property that is in joint tenancy (hubby and wife), when one party passes away, the other party auto assumes the ownership. Only tenancy in common can be willed (cos there is clear indication of how much that can be distributed).

Above is what I recall, pls clarify with the lawyer in case my points are wrong.

]]>https://forum.kiasuparents.com/post/1588653https://forum.kiasuparents.com/post/1588653Tue, 06 Oct 2015 00:39:53 GMT<![CDATA[Reply to Estate tax after a person passed away on Mon, 05 Oct 2015 18:11:54 GMT]]>Get it done


Lawyer charges few hundred dollars to get it done properly

]]>https://forum.kiasuparents.com/post/1588622https://forum.kiasuparents.com/post/1588622Mon, 05 Oct 2015 18:11:54 GMT<![CDATA[Reply to Estate tax after a person passed away on Mon, 05 Oct 2015 15:27:50 GMT]]>Anyone can advise me if me & my wife should get a will written? If I pass on, I plan to distribute everything to my wife for the long term benefit of my kids (50% each). However my concern is if my wife & I both pass on together, I want to split everything equally between my 2 kids (who are still babies btw) & I only want my sis in law to oversee the will. My sis in law is an Indonesian residing in Indo, I got a Singaporean brother in Singapore but we do not want to rely on him. If we both pass on before they are adults, it needs to be slowly provided to the 2 babies/kids for their benefit (education, daily expenses etc).


Thanks.

]]>https://forum.kiasuparents.com/post/1588606https://forum.kiasuparents.com/post/1588606Mon, 05 Oct 2015 15:27:50 GMT<![CDATA[Reply to Estate tax after a person passed away on Tue, 29 Sep 2015 08:49:23 GMT]]>

scang:
You can always deposit your will with the http://www.todayonline.com/singapore/wills-registry-charge-s50-submissions maintain by Insolvency and Public Trustee’s Office (IPTO)

Btw, Will Registry is part of the Insolvency and Public Trustee's Office of Singapore, and is a confidential registry depository for Willl information. If you have made a Will, you may wish to submit your Will information at the confidential Wills Registry by paying the relevant fee (wef 1 March 2014, S$50), which merely contains brief particulars of your Will such as date of Will, but not the contents. Your original Will or copy thereof cannot be deposited at the Wills Registry. To deposit your Will information at the Wills Registry, please login to http://www.iptoonline.gov.sg.

]]>https://forum.kiasuparents.com/post/1585265https://forum.kiasuparents.com/post/1585265Tue, 29 Sep 2015 08:49:23 GMT<![CDATA[Reply to Estate tax after a person passed away on Tue, 29 Sep 2015 08:45:17 GMT]]>You can always deposit your will with the http://www.todayonline.com/singapore/wills-registry-charge-s50-submissions maintain by Insolvency and Public Trustee’s Office (IPTO)

]]>https://forum.kiasuparents.com/post/1585262https://forum.kiasuparents.com/post/1585262Tue, 29 Sep 2015 08:45:17 GMT<![CDATA[Reply to Estate tax after a person passed away on Mon, 28 Sep 2015 10:52:28 GMT]]>

MrsKiasu:
Btw, anybody knows if there is a website or a place to check if someone has make a will?

You can try http://saaaccounting.com/

]]>https://forum.kiasuparents.com/post/1584657https://forum.kiasuparents.com/post/1584657Mon, 28 Sep 2015 10:52:28 GMT<![CDATA[Reply to Estate tax after a person passed away on Sun, 21 Jun 2015 12:51:44 GMT]]>http://www.income.com.sg/value-added-services/referral-services/will-writing-services


NTUC Income holds a series of will writing seminars.

Best is to lodge the will through a lawyer and since a will is a private matter, do let your family members know where you keep your will at home (or with a law firm).

So far, no online way to find out if anyone has lodged a will as most wish to keep it as a private matter.

]]>https://forum.kiasuparents.com/post/1527225https://forum.kiasuparents.com/post/1527225Sun, 21 Jun 2015 12:51:44 GMT<![CDATA[Reply to Estate tax after a person passed away on Sun, 21 Jun 2015 06:43:43 GMT]]>

mistral77:
If there a difference with doing a will and not doing one?

Without a will:

By default, 50% will go to wife and the other 50% will be split between the children. If children below the age of 21, will go to public trustee until they reach 21.


Will a valid will:

The man can decide how he wants to distribute his estate after his death, for example, 20% goes to his wife, 80% to his son and daughter gets nothing.


PS: Better go and make a will early, a friend's FIL got dementia at an early age and the children now are fighting over his assets as the son insists more should go to him instead of equal distribution between him and his sisters.

]]>https://forum.kiasuparents.com/post/1527138https://forum.kiasuparents.com/post/1527138Sun, 21 Jun 2015 06:43:43 GMT<![CDATA[Reply to Estate tax after a person passed away on Sun, 21 Jun 2015 06:09:40 GMT]]>Btw, anybody knows if there is a website or a place to check if someone has make a will?

]]>https://forum.kiasuparents.com/post/1527130https://forum.kiasuparents.com/post/1527130Sun, 21 Jun 2015 06:09:40 GMT<![CDATA[Reply to Estate tax after a person passed away on Sun, 21 Jun 2015 06:07:55 GMT]]>

ngl2010:
MrsKiasu:

[quote=\"ngl2010\"]I think we can write our own will, right? No need to go to lawyer.


I made a simple will few years back at a lawyer'so office and it costs me $150 or thereabout. I just called a few lawyer's office to check the fee then.

That's cheap. My pil made a simple will and costs them about $1600 for the 2 of them. The lawyer was recommended by their relative. I don't dare to make any suggestion just in case have problem then I will get :torchme: by them. 😆[/quote]So expensive..maybe from the big law firms..

]]>https://forum.kiasuparents.com/post/1527129https://forum.kiasuparents.com/post/1527129Sun, 21 Jun 2015 06:07:55 GMT<![CDATA[Reply to Estate tax after a person passed away on Sun, 21 Jun 2015 05:53:34 GMT]]>

MrsKiasu:
ngl2010:

I think we can write our own will, right? No need to go to lawyer.


I made a simple will few years back at a lawyer'so office and it costs me $150 or thereabout. I just called a few lawyer's office to check the fee then.

That's cheap. My pil made a simple will and costs them about $1600 for the 2 of them. The lawyer was recommended by their relative. I don't dare to make any suggestion just in case have problem then I will get :torchme: by them. 😆

]]>https://forum.kiasuparents.com/post/1527124https://forum.kiasuparents.com/post/1527124Sun, 21 Jun 2015 05:53:34 GMT<![CDATA[Reply to Estate tax after a person passed away on Sun, 21 Jun 2015 04:40:00 GMT]]>I think it is better to get a will done with the lawyer’s stamp/acknowledgement.

It is a peace of mind.

]]>https://forum.kiasuparents.com/post/1527098https://forum.kiasuparents.com/post/1527098Sun, 21 Jun 2015 04:40:00 GMT<![CDATA[Reply to Estate tax after a person passed away on Sun, 21 Jun 2015 04:37:29 GMT]]>

ngl2010:
I think we can write our own will, right? No need to go to lawyer.

I made a simple will few years back at a lawyer'so office and it costs me $150 or thereabout. I just called a few lawyer's office to check the fee then.

]]>https://forum.kiasuparents.com/post/1527097https://forum.kiasuparents.com/post/1527097Sun, 21 Jun 2015 04:37:29 GMT<![CDATA[Reply to Estate tax after a person passed away on Sun, 21 Jun 2015 04:32:49 GMT]]>

ngl2010:
I think we can write our own will, right? No need to go to lawyer.

The usual saying is if the content is not too complicated and unlikely somebody to challenge it, then it may be possible to write your own will.
However, to save cost, one may opt for an online version which will then be acknowledged and signed by a lawyer in his/her law firm.

]]>https://forum.kiasuparents.com/post/1527095https://forum.kiasuparents.com/post/1527095Sun, 21 Jun 2015 04:32:49 GMT<![CDATA[Reply to Estate tax after a person passed away on Sun, 21 Jun 2015 04:10:46 GMT]]>I think we can write our own will, right? No need to go to lawyer.

]]>https://forum.kiasuparents.com/post/1527087https://forum.kiasuparents.com/post/1527087Sun, 21 Jun 2015 04:10:46 GMT<![CDATA[Reply to Estate tax after a person passed away on Sun, 21 Jun 2015 03:14:19 GMT]]>The will allows a person to distribute his wealth/assets in accordance to his preference. Without a will, the wealth/assets will be distributed in accordance to intestacy laws.

]]>https://forum.kiasuparents.com/post/1527071https://forum.kiasuparents.com/post/1527071Sun, 21 Jun 2015 03:14:19 GMT<![CDATA[Reply to Estate tax after a person passed away on Sun, 21 Jun 2015 01:11:56 GMT]]>

mistral77:
If there a difference with doing a will and not doing one?

I don't know about speed, but if there is no will, the rules regarding intestacy will apply. See:

http://singaporelegaladvice.com/in-the- ... stributed/

This is the default when no will is made, but a will can override these conditions. The intestacy laws to not apply to CPF balances if a valid nomination was made.

]]>https://forum.kiasuparents.com/post/1527038https://forum.kiasuparents.com/post/1527038Sun, 21 Jun 2015 01:11:56 GMT<![CDATA[Reply to Estate tax after a person passed away on Sat, 20 Jun 2015 23:47:16 GMT]]>Insurance payout can take more than 6 months also…

]]>https://forum.kiasuparents.com/post/1527025https://forum.kiasuparents.com/post/1527025Sat, 20 Jun 2015 23:47:16 GMT<![CDATA[Reply to Estate tax after a person passed away on Sat, 20 Jun 2015 23:46:17 GMT]]>With will can still take up to 6 months to get cash… Property can take up to 12 months… Without will, I dunno how long it can take…

]]>https://forum.kiasuparents.com/post/1527024https://forum.kiasuparents.com/post/1527024Sat, 20 Jun 2015 23:46:17 GMT<![CDATA[Reply to Estate tax after a person passed away on Sat, 20 Jun 2015 23:30:37 GMT]]>I have not personally gone thru this. Hearsay is that with a will, estate gets settled faster if there are no objections. Without will, estate distribution will be done by a gahmen body and this adds to time and cost. So far friends who had unfortunate experience with one parent passing away without will usually will have the remaining parent draw up one just to avoid the hassle.

]]>https://forum.kiasuparents.com/post/1527019https://forum.kiasuparents.com/post/1527019Sat, 20 Jun 2015 23:30:37 GMT