The #1 misconception is : “A Will must be written by a lawyer“

The requirements of a valid Will are set out in the Wills Act and it is not a requirement that a Will must be drafted by a lawyer. The Law Society has indicated the same in their website:

http://www.lawsociety.org.sg/forPublic/YoutheLaw/MakingaWill.aspx

In fact, anyone can write our own Will following the formalities and format provided in books, journals or websites. The main concern is : What if our situation is slightly more complicated than what the template can offer? In this case, you need to speak to someone with some practical experience to provide you an opinion. Always seek advice when you are in doubt.

Education counts, exposure counts more, experience counts most.

A Grant of Probate is a court order officially recognizing and giving powers to the executor named in a Will to carry out the duties stated in the Will.

Financial institutions and many other authorities require the Grant of Probate before allowing any closure of accounts or transfer of ownership of assets.

In cases where prices of the assets involved fluctuate, for example, stocks and shares, real properties, motor vehicles etc.., it would be advantageous to obtain the Grant early so that the executor can have the flexibility to decide when to liquidate the assets involved, if necessary, to take advantage of the price fluctuations.

The main documents required to apply for the Grant of Probate in Singapore are:

1. Original copy of the Will;
2. Original Death Certificate of the deceased;
3. ”Schedule of Assets” providing details of assets owned by the deceased.

For estate of less than $3 million, the application will be handled by the Family Justice Courts of Singapore whereas High Court handles estate exceeding $3 million. There are certain documents and affidavits to be filed with the respective court which requires complete accuracy.

A Grant of Letters of Administration is a court order officially recognizing and giving powers to the next-of-kin to carry out the duties according to the Intestate Succession Act, Chapter 146.

Financial institutions and many other authorities require the Grant of Letters of Administration before allowing any closure of accounts or transfer of ownership of assets.

In cases where prices of the assets involved fluctuate (eg. stocks and shares, real properties or motor vehicles), it would be advantageous to obtain the Grant early so that the administrator can have the flexibility to decide when to liquidate the assets involved, if necessary, to take advantage of the price fluctuations.

Priority is given to certain next-of-kin to apply for the order. For married person, the spouse is given the priority over the children. The surviving spouse of a married person who left behind young children (below 21 years of age) needs to apply with another person (co-administrator). Two sureties (guarantors) are also required before the court grants the order.

For single person, the parents are given the priority over the siblings. Both parents of a deceased person who was single must apply for the court order jointly. Death certificate of the deceased parent must be produced if either of the parents is deceased. Both parents must renounce their rights if any of the deceased’s siblings is to apply the order in place of the parents. If both parents are deceased, all surviving siblings of a deceased single person have equal rights to apply.

The main documents required to apply for the Letters of Administration in Singapore are:

1. Death certificate (please indicate the religion of the deceased);
2. Full name, IC number and contact number of next-of-kin applying the court order;
3. Full names, IC numbers and date of birth of all the beneficiaries;
4. “Schedule of Assets” providing details of assets owned by the deceased.

For estate of less than $3 million without any minor beneficiaries, it takes about 2 months to complete if Schedule of Assets is readily available. If “Schedule of Assets” is not available, one additional month is required to complete the process.

Please call us for a free consultation. All Probate and Letters of Administration matters are handled by our panel of lawyers.

Benefits of writing a Will:
Decide Who To Receive Our Assets
Decide on who shall receive and benefit from our assets rather than to leave it to the law to decide.

Provide For Those Not Entitled Under The Intestacy Law
To provide for people who deserve to receive our assets but not entitled under the intestacy law.

Decide How Much Our Beneficiary(ies) Shall Receive
Decide on the share of the assets to be received by beneficiary(ies)

Appoint Executor or Trustee
Decide on who shall have the rights to administer the estate.

Appoint Guardian
Decide on who shall has the rights to take care of the minors (children below the age of 21 years).

Reduce Confusion
As the instructions have been clearly stated in the Will.

Expedite Legal Process
Generally, it takes a shorter time and lesser legal fee to settle an estate with a valid Will than the one without a Will.

Introduction
The Public Trustee maintains a confidential Wills Registry which acts as a central information centre for all Wills that are drawn up, of which notice has been given to the Public Trustee.

Benefits of the Wills Registry
In the administration of a deceased’s estate, the administrator or executor (the person appointed to handle the estate of deceased) has to first ascertain whether the deceased left behind a Will. Often, the next-of-kin or beneficiaries may also believe that the deceased may have done so but do not have a copy of the Will or information as to which solicitor/Will writer drew up the Will.

The information available from the Wills Registry will be useful to the following persons:

1. The person who made the Will (also known as the testator) and/or his/her solicitor/Will writer if the testator wishes to make a subsequent Will;
2. The next-of-kin or beneficiaries of a deceased testator and/or the solicitors acting for the estate of the deceased testator to assist them in the administration of the deceased testator’s estate; or
3. The next-of-kin or beneficiaries of a deceased and/or their solicitors in determining whether the deceased left behind a Will governing the distribution of his/her estate.

Information provided by the Wills Registry
The following information is available from the Wills Registry to an approved applicant:

1. Particulars of the Testator;
2. Date of Will and Codicil (ie. a supplement modifying a Will);
3. Particulars of the Solicitor/Will writer who drew up the Will;
4. Particulars of the Custodian of the Will; and
5. Particulars of the Informant.

It is important to note that the Wills Registry doesn’t keep a copy of your Will and therefore the safe keeping of the physical Will is still important.