This article is dedicated to my kopi kaki Amy Ying who inspired me to write this. Whenever I advise my clients to setup their Wills, I see a lot of procrastination. People are reluctant to make a decision today, as future assets and relationships may change. My advice would be to write your Will based on today’s circumstances, assuming you have passed on yesterday. Where possible, I also advise my clients on ways to make their Will more flexible to encompass future changes.
Did you know? A Will is a public document once it goes through the probate process. This means that relatives can find out who are your beneficiaries and their share of your estate. One way to circumvent this is to setup a Trust, where only the trustee knows your beneficiaries and their respective share.
Tip! For more flexibility, you can gift specific bank accounts to respective beneficiaries in your Will. Over the years you can choose to adjust the bank balance accordingly, without having to re-write your Will.
Every family is unique with different dreams and aspirations, so your estate plan should be unique to you too. If you have any questions relating to estate planning, do feel free to email me firstname.lastname@example.org or chat with me here
Important: The information and opinions in this article are for general information purposes only. They should not be relied on as professional financial advice. Readers should seek independent financial advice that is customised to their specific financial objectives, situations & needs. This advertisement or publication has not been reviewed by the Monetary Authority of Singapore.
Winnie is a Certified Financial Planner with more than 10 years experience in financial advisory services, helping many of her clients to achieve their financial dreams, while protecting their families.
With more than a decade of insurance claims experience, she has tangibly helped many clients receive their claims pay-outs successfully, relieving their financial burden.
As part of her community outreach program, she finds it very meaningful to conduct financial talks for companies where the staff can benefit from the talks. Some of the companies who have benefitted include National Kidney Foundation, Singapore National Eye Centre and Singtel.
Despite her busy schedule, she enjoys working out at the gym and playing the piano (currently pursuing Grade 6 ABRSM).
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