When you make a will, you need someone to oversee it after you die. This protects your assets and ensures that your beneficiaries get what they are entitled to. But before we move further, let us first understand
Write a will in Singapore
It is important to write a Will for the Singaporeans as it ensures the distribution of their assets is in accordance with their wishes upon their demise. Here are the following reasons why writing a Will in Singapore that can help you.
- Ensures Your Wishes Are Followed
- Protects Your Loved Ones
- Appoints Guardians for Minor Children
- Reduces Stress for Family Members
- Minimizes Legal Challenges
- Manages Complex Family Situations
Writing a will gives you control over the estate and provides peace of mind for both you and your loved ones.
How to Write a Will in Singapore?
- The very first step in writing The Will is to appoint the executor. The executor administers the estate in accordance with the instructions set out in the Will.
- The next step is to create a comprehensive list of all your assets. It will help the executor distribute your assets in accordance with your wishes.
- It is important to determine who will benefit from your estate after your death. You need to list the people who will receive the benefits after your death.
- Once all the relevant information has been collated, the Will should be drafted in accordance with the specific instructions provided.
- It is important to remember to review and update your Will on a regular basis in order to reflect changes in your assets and family circumstances over time.
What is a Professional Executor of a Singapore Will?
A professional executor oversees your Will. They are involved in your beneficiary’s affairs. Since you write the Will, you are the testator of the Will. The people who will inherit the assets and estate are the beneficiaries.
Your professional executor is entitled to oversee the following things.
Managing your assets and estate after you die. They can be the trustee of the estate until your beneficiary turns 21. They can hold your assets and estate until your beneficiaries are old enough.
- Help with funeral arrangements.
- Pay off the deceased’s debts.
- Apply to the court for probate.
- Go to court for your estate.
Budget-conscious individuals can bank on affordable Will writing in Singapore that covers the essential clauses and clauses required under Singapore law.
Who Should I Choose as My Will Executor?
You can choose anyone as your executor. However, it is advisable not to choose one of your beneficiaries as your executor. This helps to avoid conflicts of interest, which can arise if your beneficiary is not the sole beneficiary.
Here are the following options that you can choose
- A professional trustee
- A family friend to whom you are a trustee
- A close relative
It is recommended that you appoint an impartial third-party professional as your executor. You are not permitted to appoint more than one executor for your Singapore will. The optimal approach is to appoint multiple executors to provide oversight and ensure continuity of service in the event that one executor is unable to perform their duties. A team of professionals can address this issue effectively.
Why choose Noble Wills?
If you are looking for reliable Will writing services in Singapore, Noble Wills is the name you can trust. We provide
- Professional services
- Understand the accounting thoroughly
- Experience in handling valuation
We offer professional and affordable writing in Singapore. Written wills are at affordable prices and reviewed by humans. Contact us today.