Requirements in Making a Valid Will
In Singapore, the Wills Act 1838 governs the making of a Will in Singapore, which allows a person to devise, bequeath or dispose of all real estate and all personal estate either at law or in equity at the time of his death.
Some of the important requirements in preparing a Will is set out hereunder:-
The Will must be in written form.
The person making the Will (the Testator) must be at least 21 years old.
The Testator must place their signature of the Will.
2 witnesses must be present to witness the signing of the Will by the Testator.
The 2 witnesses must also place their signatures on the Will before the Testator.
The 2 witnesses cannot be beneficiaries, or spouses of the beneficiaries of the Will.
Things to Include in the Will
A list of all of your assets.
A list of all of your liabilities.
Your marital statues.
The executors to carry out your Will.
The beneficiaries to your Will.
The percentage of your assets each beneficiaries is to receive.
Appointment of up to 2 guardians to take care of any minor children.
A revocation clause revoking any and all previous Wills.
A residuary clause on how to distribute the remaining assets.
CPF Monies
CPF monies my not be included inside the Will. In order to distribute the money in your CPF account, you will need to nominate a beneficiary for your CPF account, which can be carried out with the CPF Board. If there is no nomination, the monies in your CPF account will be transferred to the Public Trustee Office and made available to your next of kin in accordance to the rules in the Intestate Succession Act.
After the Preparation of the Will
There is no legal requirement to file your Will with the Wills Registry. However, it is recommended to do as the Wills Registry will be kept in the system for 120 years from the date of birth of the person making the Will. Your Will will also be kept strictly confidential and only the following person may make a search for information related to the Will:-
The person who made the Will or his/her solicitor.
The solicitor acting for the estate of someone who has died.
The next of kin of someone who has died.
The donee of a Lasting Power of Attorney or a deputy appointed or to be appointed by the Court with powers to manage the testator's property and financial affairs in the event that the testator lacks mental capacity.
Making a Will upon Marriage and Divorce
If you had made a Will before getting married, the Will automatically becomes invalid upon you getting married, unless you had indicated in your Will that it was made in contemplation of marriage.
In the case of a divorce, the Will which you have made before the divorce remains valid. Therefore, it is advised that your Will be changed to reflect the new stages of your life.
Do you need a Lawyer to Draft your Will
There is no requirement for you to appoint a lawyer to draft your Will. However, it is advisable that you engage a lawyer to draft your Will, especially if your Will is a complex one concerning large amount of assets. Do contact us at +65 6970 8287 for a consultation.
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