Tuesday 19 August 2014



A will, according to the Wills Act in Singapore (1996), is a legal document, which states what a testator (person making the will) may devise, bequeath or dispose of his personal estate among his beneficiaries (those who will inherit under the will). Creating a will allows you to decide how your belongings should be distributed.


In Singapore, while anyone can make a Will, if the testator is 21 years or older, he is advised to consult a lawyer whom will advise and draft the Will according to law in Singapore. The major risk of not engaging a lawyer is that the homemade Will may be invalid and ineffective towards the testator’s beneficiaries.


When creating a Will, one should state the beneficiaries to whom he wishes to give away his property and assets. These assets can include the testator’s cash and shares; however, not a joint owned bank account or house. Furthermore, a list of liabilities should be included – stating how debts will be paid off. The executor, a person nominated by the testator to distribute the deceased’s assets to the beneficiaries upon his death, will have the duty of settling the deceased’s debts and executing the Will.


A Will is revoked by marriage, so it will be cancelled unless the Will was made in contemplation of marriage. One should review his Will regularly to ensure that all is in correspondence to the Wills Act and is updated with the testator’s life. Lastly, if one passes away without making a Will, his assets will be distributed according to the Intestate Succession Act, where then the personal representation will have to apply for Letters of Administration to obtain the testator’s assets.


Grant of Probate



If the decreased has estates, then A Grant of Probate (if decreased has left a Will) or Grant of Letters of Administration will be needed for the executor (person nominated by the testator to distribute the deceased’s assets to the beneficiaries) to be authorized to deal with the deceased’s assets. The executor should apply for a Grant of Probate within six months after the deceased’s death. If no Will is provided, the beneficiary should then apply to court for a Grant of Letters of Administration.


A Grant of Probate is a court order given to the executor; it is proof that the author of the Will has decreased, the Will is authentic and the executor is authorized to administer the Will. Once a Grant of Probate has been granted, the executor can then access the deceased’s assets. After which, the executor has the legal duty of paying off any debts before distributing the estates. The estate should be distributed according to the Will and the Law, with estate accounts signed and approved by both the executor and main beneficiaries.


Letters of Administration


If the decreased has estates, then a Grant of Probate (if decreased has left a Will) or Grant of Letters of Administration will be needed for the executor (person nominated by the testator to distribute the deceased’s assets to the beneficiaries) to be authorized to deal with the deceased’s assets. If no Will is provided, the beneficiary should then apply to court for a Grant of Letters of Administration.


Under Intestate law, the following people are able to apply as the Administrator of the deceased’s estate. In order of priority [1]
·         Spouse
·         Lawful children (above 18 years of age)
·         Parents
·         Brothers or sisters
·         Grandparents
·         Uncles or Aunts
    
The entitlement to the estate of the deceased in this circumstance will be determined according to the Intestate Succession Act (2013).

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