Our Services | Investment Portfolio Review | Protection Portfolio Review | Discretionary Mandate | Insurance Planning | Legacy Planning | Keyman Insurance
Making a plan for your legacy enables you to have a lasting influence on the people you leave behind as well as future generations.
It is also a means through which you can support and safeguard your loved ones even after you have left. This could be making sure your family has enough money to live comfortably even when you're gone or simply helping your children pay for their education.
On a personal level, it also makes sure that the sacrifices you've made during your life to amass these assets are not in vain and are dispersed in accordance with your wishes.
*Your estate will be divided in accordance with Singapore's Intestate Succession Act if you pass away without leaving a will.
Should you pass away intestate, a number of issues may arise.
If both parents pass away at the same time, it is unclear who will have custody of their kids. There may be disagreements on the best candidate to serve as the guardian. As the other parent of the children, the ex-spouse might be able to access the assets.
In
Settlement
The probate process becomes more challenging in the absence of a will. Longer asset distribution times could mean more legal fees.
Consequences
The distribution of assets might not be in accordance with the deceased's wishes. In the event that the dead leaves behind a spouse and children, elderly parents will not be eligible. The law prioritizes appointing administrators in the family members of the deceased person. It's possible that this goes against what you wanted.
Dickson Pek
+65 8422 3226
dicksonpek@phillip.com.sg
Phillip Wealth Advisory
2 Stamford Rd, #06-01
Singapore 178882
©2022 Dickson Pek. All rights reserved. Privacy Policy | Created with Leadpages
