Legal FAQs - Wills
Legal FAQs - Wills
- What Is A Will?
- Do You Need A Lawyer To Make A Will For You?
- Can Anyone Make A Will?
- What Assets Can You Give Away Through Your Will?
- Who Can You Give Your Assets To?
- Key Information To Include In Your Will
- How Do You Sign Your Will?
- Can You Changing Your Will After You Have Made It?
- Making Known Your Will
- Administering Your Estate
- Syariah Law
- What Happens If You Do Not Make A Will?
- What Is The Costs Of Making A Will?
- How Do I Get More Information?
1. What Is A Will?
A Will is a document that allows you to decide who should get your assets in the event of your death. If you did not have a Will when you die, all your assets will be distributed as provided for under the law. This may not reflect your wishes. It is therefore important that you make a Will.
2. Do You Need A Lawyer To Make A Will For You?
If you are above 21 years old and of sound mind. you may make your own Will and change it at any time during your life without consulting a lawyer. But the risk is that your home-made Will may be ineffective or invalid. This could mean that your intended beneficiaries do not get what you desired to leave for them.
It is therefore in your interest to consult a lawyer who can advise you and draft your Will for you according to the law.
3. Can Anyone Make A Will?
You must be at least 21 years of age and of sound mind to make a Will. However, if you are a soldier in actual military service (for example, an NS man), or a mariner or a seaman at sea, you may make a Will even though you are under 21 years old.
4. What Assets Can You Give Away Through Your Will?
You can give away any assets that belong to you through the Will. For example, you may give away your house, car, shares, insurance policies, bank accounts, cash and jewellery to family members, friends or to charities.
If you have made a nomination under the CPF Act, your nominee shall be entitled to the funds in your CPF account regardless of what is stated in your Will. If you have not made a nomination, your funds will be distributed under the law in accordance with the Intestate Succession Act, (see paragraph on If you do not make a Will). If you have not made a CPF nomination but you have made a Will stating who the beneficiary to your CPF fund shall be, then this beneficiary will be entitled to your CPF money.
Note also that there are special conditions attached to how you can give away life insurane proceeds.
5. Who Can You Give Your Assets To?
You can as a general rule give your assets to anyone through your Will. This will include your immediate family, such as your parents, spouse, children, as well as to any other person, including organizations. Where you propose to leave your immediate family and children out of the Will, there are certain preconditions that you should satisfy.
If there are minor beneficiaries (persons under the age of 21 years) named in your Will, you must have at least two executors/trustees who will he able to hold any assets or invest or use any money for the benefit of the minors.
6. Key Information To Include In Your Will
Every Will that is drafted must contain certain minimum key information as follows:
- Your full name and identification number.
- Your address details.
- The names of your executors who will administer the will in the event of your death. Where there are beneficiaries who are below the age of 21 years, you will need at least two executors.
- Details of the beneficiaries that you propose to give your assets to.
- The proportion of the distribution of your assets to each beneficiary.
- Details of the assets that you propose to distribute.
There are additional information that may have to be included into the Will depending on the specific requirements that you have.
7. How Do You Sign Your Will?
It is very important that when you sign your will, you do so in the presence of two persons. These two persons must both be present at the same time. If you do not comply with this rule, your Will will be invalid.
Also note that the witnesses to your Will cannot be the beneficiaries under the Will. Neither can they be the husband or wife of any of the beneficiaries.
8. Can You Changing Your Will After You Have Made It?
Yes you can change your Will after you have made it. The only way to do this is by preparing a fresh Will or preparing a Supplemental Will ("a Codicil").
Never attempt to change your Will by crossing parts out or adding words in or by attaching anything to it. If you do so your Will may become ineffective or invalid.
9. Making Known Your Will
Although a Will is a private document, it is important that your family and especially your executors know that you have a Will and where you have kept it. If you wish, your lawyer will look after it for you. You should then give your executors your lawyer’s name and address.
10. Administering Your Estate
Your Will takes effect upon your death. Your executors would have to apply to Court for a Grant of Probate. The Court will only issue the Grant after the Estate Duty Officer has certified the following:
- the value of your estate; and
- the amount of estate duty payable and the fact that it has been paid or that no estate duty is payable.
Once the Grant of Probate is issued, the Will becomes a public document. The original Will is retained by the Court. The executors will be given a copy of the Will together with the Grant. All your property and assets will then pass to your executors, who will have the responsibility of administering and distributing the estate according to the instructions in your Will.
11. Syariah Law
Some of the points mentioned above do not apply to Muslims. Under section 115(1) of the Administration of Muslim Law Act, the beneficiaries must apply to the President of the Syariah Court for an Inheritance Certificate to establish the share of each beneficiary. Muslims can only dispose off or give away 1/3 of their estate to persons who are not already entitled under the Inheritance Certificate mentioned above.
12. What Happens If You Do Not Make A Will?
If you pass away without making a Will, your assets will be distributed according to the rules of intestacy as laid down in the Intestate Succession Act. Your lawyer can advise you about these rules and how they apply to you. If you die without making a Will, your estate may be distributed to persons to whom you do not intend to give anything.
Also, you cannot choose the people who will look after your estate. They are called "administrators" instead of executors although they will have the same responsibilities. They have to apply to Court for "Letters of Administration" instead of the Grant of Probate and the procedure is generally more complicated. For example, the administrators will have to provide two guarantors unless they get approval from the Court not to have such guarantors.
Therefore, if you want to provide especially for your family members, friends or a charity after your death, you should consider making a Will as it will be easier and more convenient.
13. What Is The Costs Of Making A Will?
The cost of making a Will will depend on how detailed you want it to be. Most Wills do not cost a lot to make. We are happy to discuss this with you, and provide you with an estimate of the costs involved in a preliminary discussion.
14. How Do I Get More Information?
If you would like more information, please do not hesitate to contact us by clicking on this email address parwani@anplaw.com or calling us at 67349100. We would be very happy to discuss your options with you.