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).
Probate Singapore FAQ. (n.d.). Singapore
Lawyer .
Retrieved July 24, 2014, from https://www.law.com.sg/probate/singapore-probate-faq
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