Estate Planning

At some point, we come to the realization that we will be absent from the lives of our loved ones, this happens either through our demise or incapacity. Estate planning is where we ensure that our loved ones are financially protected, that there is no unnecessary leakage of wealth over what was painstakingly built up over a lifetime and if there is a legacy, that legacy is continued on.

INSURANCE

A life insurance policy can be an integral component of estate planning as it can provide liquid funds to meet the debts of one’s estate or simply provide for the family before the estate can be distributed. These funds can be paid by the insurer to the executor of the estate or proper claimants without the need to wait for probate or letters of administration. Let one of our partners assist you in putting a comprehensive plan together for you now!

TAX

Tax planning is crucial to prevent unnecessary leakage of wealth. Estate duty has been abolished in Singapore since 15 February 2008. Singaporeans commonly have cross border investments of late and in general, an estate tax based on the value of all assets in that country may be applicable. If you are uncertain of the tax implications, do reach out to us!

TRUST STRUCTURES

A trust is a legal arrangement that allows one to give away their assets to another party (trustee) for the benefit of a beneficiary or multiple beneficiaries. The trustee is the legal owner of the assets but the beneficial interests lie with the beneficiaries. Trust structures are used for asset protection, family succession and protection of minors. The trust is a very useful tool in estate planning and do let us know if you wish to find out more from our trust partners!

WILLS

This is at its essence a document that sets out your intentions on how your assets should be managed and distributed. The main advantage of drawing up such a document is to ensure that your assets are not distributed by the intestate rules which may lead to unintended consequences or beneficiaries. It is of vital importance that your Will be drafted clearly and executed correctly. With our platform, your Will is reviewed by lawyers to give you that peace of mind. Get started today!

LPA

The lasting power of attorney allows a person who has mental capacity to appoint one or more persons to act and make decisions on his behalf when he lacks mental capacity in the future. When a person lacks mental capacity, he will be unable to take care of his living and medical expenses. If an LPA has not been drawn up, there will be inconvenience, delay and expenses to the family as they will have to apply to Court for the appointment of a Deputy to make decisions on his behalf. Get started on our website today!