Supplementary Retirement Scheme (SRS) is a tax deferral and benefit scheme applicable to both Singaporeans and foreigners working in Singapore. But what exactly is it? What's the difference between CPF and SRS? How does the tax work for SRS? What happens to your SRS if you pass away or are terminally ill? In Part 6 of this CPF, SRS x Inheritance series , we look into these issues and help you demystify the basics of SRS. What is the Supplementary Retirement Scheme (SRS)? What is the difference between CPF and SRS? Why do people put money in SRS? Who can open an SRS account? How much can I put in SRS? Can I withdraw from SRS? Tax Implications of SRS withdrawals What happens to my SRS if I die or am terminally ill? Is it better to withdraw SRS after statutory retirement age or keep it? What is the Supplementary Retirement Scheme (SRS)? SRS is a voluntary scheme that encourages people to save for retirement over and above their CPF savings. Participants can contribute any amount to SRS, subject to a cap, at their own discretion. Contributions will accumulate at an interest rate of 0.05% or can be used to purchase various investment instruments. What is the difference between CPF and SRS? CPF is a tax-exempt scheme (you don't need to pay tax) whereas SRS is a tax deferral scheme (you pay tax later). Most parts of CPF are protected from creditors while your SRS account is not. Interest rate on SRS is lower compared to CPF saving rates. Note that CPF savings are locked up for a long period whereas you can withdraw your SRS anytime (subject to penalty and restrictions) and thus, with greater liquidity, you should expect a lower interest rate on SRS. Below is an overview of the CPF and SRS interest rates. Ordinary Account - At least 2.5% p.a. Special Account - At least 4% p.a. MediSave Account - At least 4% p.a. Retirement Account - At least 4% p.a. CPF LIFE - Same as RA Supplementary Retirement Scheme - 0.05% Check here for the latest rates and here for how the rates are determined. Why do people put money in SRS? The key draw of SRS is the tax deferral/benefit. SRS contributions are eligible for tax relief, investment returns are accumulated tax-free and only 50% of the withdrawals from SRS are taxable at retirement. Who can open an SRS account? Singapore Citizens (SC), Permanent Residents (PR) and foreigners who derive any form of income in Singapore can make SRS contributions in that year as long as you are: At least 18 years old; Not an undischarged bankrupt; Not having a mental disorder; and Capable of managing yourself and your affairs To open an SRS account, you will need to approach either DBS , OCBC or UOB to set up an account. Note: You can only have 1 SRS account at any point in time You can change your SRS provider How much can I put in SRS? You or your employer can contribute any time and as often as you like, subjected to the cap on SRS contribution for the year ( currently at S$15,300 for SC and PR, S$35,700 for foreigners). Contributions have to be made in cash and there is no refund for SRS contributions made. Note: Contributions to your SRS account by your employer constitutes your remuneration and so, are taxable and have to be reported. You will be given tax relief for the contribution. Your tax relief for SRS contributions and other tax relief claims that you may have will be capped at the personal income tax relief limit of S$80,000. All proceeds from the sale of your SRS investment instruments must be returned to your SRS account. As long as you don’t withdraw after your statutory retirement age , you can continue to make contributions. Withdrawals made before statutory retirement age don’t count. We will explain more on withdrawals and statutory retirement age next. Can I withdraw from SRS? Yes, you can withdraw anytime and in the form of cash or investments. Tax Implications of SRS withdrawals If you withdraw before your statutory retirement age, you may be subjected to penalty. Your Statutory Retirement Age YOUR statutory retirement age is the statutory retirement age set at the time of your first SRS contribution. If you have already opened an SRS account, made your first contribution and the statutory retirement age then is 62 years old, any subsequent change in the statutory retirement age (e.g. up to age 65) will not affect you (i.e. you may still begin your first penalty-free SRS withdrawal when you reach age 62). Withdrawal BEFORE your statutory retirement age 100% of the withdrawal will be subjected to income tax Withdrawal subjected to 5% penalty (See below for exceptions) Here are some examples to illustrate: If you first contribute S$10,000 and then subsequently withdraw $8,000, there will be no penalty on the S$8,000 withdrawn and tax relief will only be on S$2,000 net contribution. If you first contribute S$10,000 and then subsequently withdraw $15,000, there will be no SRS tax relief. There will be a 5% penalty on the S$5,000 net withdrawal and the S$5,000 net withdrawal will also be subjected to income tax for the year. If you first withdraw S$15,000 and then subsequently contribute $10,000, there will be a 5% penalty on the S$15,000 withdrawal, the S$15,000 withdrawal will be subjected to income tax but you will also get the S$10,000 tax relief. If you are withdrawing for the following circumstances , there will be no 5% penalty. Death or Full Withdrawal Due to Terminal Illness 50% of full withdrawal sum less an exempt amount of up to $400,000 will be subjected to tax. We'll illustrate more on this in later sections . Medical Grounds For physical or mental incapacity and partial withdrawal on ground of terminal illness, 50% of withdrawal sum will be subjected to tax Bankruptcy 100% of withdrawal sum subjected to tax Full withdrawal of the SRS balance by a foreigner 50% of withdrawal sum subjected to tax if there's at least 10 year holding period. Otherwise, 100% of withdrawal sum and 5% penalty Withdrawal AFTER your statutory retirement age There is a 10-year penalty-free withdrawal period (ie, no 5% penalty on withdrawals). The 10-year starts from your first penalty-free withdrawal and can happen anytime on or after your statutory retirement age. You can withdraw a maximum of S$40,000 each year, of which 50% is tax-free and the remaining 50% will be taxable income. At the end of the 10-years, any balance in your SRS (except life annuities) is deemed to be withdrawn immediately. Your SRS operator will report 50% of such balance to IRAS and this is subject to income tax the following year. After the deemed withdrawal, you can actually withdraw the balance or choose to leave it with your SRS operator. Future returns will be treated and subjected to tax like any other regular investments. Once you have withdrawn all your money and closed your SRS account on medical ground or because you have reached the statutory retirement age, you will not be permitted to open a new account. Note: Insurance policies If you have insurance policies (eg. endowment policies and term annuities), you do not need to surrender your policies. The value of the policies (i.e. based on the surrender values determined by the insurance companies) will be added to your SRS balance to be deemed as to be withdrawn. Life annuities For investments in life annuities, the 10-year withdrawal period does not apply. Before the SRS account is closed or deemed to be closed, annuity payments will be made to the SRS account and will not be taxed if no SRS withdrawal is made. After the SRS account is closed or deemed closed, 50% of the annuity payments will be subject to tax each year perpetually . What happens to my SRS if I die or am terminally ill? If you pass away, your SRS would be deemed as fully withdrawn on the date of death and be passed on to your estate and distributed as per your will or intestacy law . Unlike CPF, you cannot nominate your SRS. Your SRS will form part of your estate. SRS bank operators may require the executor / administrator to produce the Grant of Probate / Grant of Letters of Administration before allowing for transfer to ensure the assets in SRS are distributed correctly. If you are terminally ill, you can withdraw your SRS in full. Related: Estate Distribution Under Will or Intestacy law In both cases, there's no early withdrawal penalty and the tax treatment are the same - 50% of full withdrawal sum less an exempt amount of up to $400,000 will be subjected to tax. Here are some examples to illustrate. Scenario 1: No prior withdrawal. J has $450,000 in SRS. J dies. Tax exemption amount = 10* S$40,000 = S$400,000 Taxable amount = 50% of $50,000 ($450,000-$400,000) . Scenario 2: 1 prior withdrawal J has $450,000 in SRS J withdrew $30,000 in Year 1. S$15,000 (50%*S$30,000) is subjected to tax. J dies/apply full withdrawal in Year 2. Adjusted tax exemption amount = 9*S$40,000 = S$360,000 Taxable amount in Year 2 = 50% of (S$420,000 - S$360,000) = 50% of S$60,000 = S$30,000 Scenario 3: Started prior withdrawal but didn't withdraw every year J has $450,000 in SRS J withdrew S$40,000 in Year 1, when J turned 62 years old (ie, no penalty withdrawal) J didn't make withdrawal in Year 2 as J had a part-time work J dies in Year 3 Adjusted tax exemption amount = 8*S$40,000 = S$320,000 Taxable amount in Year 3 = 50% of (S$410,000 - S$320,000) = 50% of S$90,000 = S$45,000 Is it better to withdraw SRS after statutory retirement age or keep it? The decision to withdraw now or later requires weighing the tradeoff between: Postponing potential tax on your SRS till later; and Accumulating investment returns within SRS and subjecting those returns, which would otherwise not be taxable, to potential future tax. Here are examples to explain. (Disclaimer: Nothing in this article or site should be construed as providing legal advice, tax advice, financial advice or advice of any sort. The information provided are general in nature, opinions of the writer and may become inaccurate over time. Please consult a p rofessional for advice.) Potential scenario where withdrawing LATER may be optimal If you have other taxable income now and don't need the money from your SRS, it may make sense to postpone the withdrawal to ensure you pay the least amount of tax on your SRS since 50% of withdrawals after statutory retirement age are taxable. You may want to consider waiting till you have little or no other taxable income to withdraw your SRS to fully utilize the income tax-free thresholds. Note: Singapore's income tax-free threshold (the annual income that doesn't get taxed) is currently at $20,000. See updates and the latest tax rates here . Potential scenario where withdrawing NOW may be optimal If you have no foreseeable taxable income for the next 10 years, it may make sense to withdraw and eventually close your SRS as dividends , interest and capital gains are generally not taxable in Singapore. If left in SRS and the investment returns are large enough to get you over the income tax-free threshold, the 50% taxable income after the 10th year may become an issue. If all these seems complicated or if you just want to outsource the work, you can speak to a financial consultant to work out the math, timing and best course of action for you. You can find and compare a list of financial consultants here or speak to us here for recommendation on a financial consultant that suits your needs and style. Immortalize is Singapore's most comprehensive elderhood marketplace and information provider. Find out all you need to know about ageing better , retiring more meaningfully and leaving a legacy that is uniquely yours here and let us help you get these sorted easily. Outsource the work and start planning for you and your family's legacy with Immortalize Prime, your personal elderhood planning assistant ! Next: Dependants' Protection Scheme: How It Works, Bequest & More Part 1: CPF Inheritance: How It Works, Tips & More! Part 2: CPF LIFE - The Best Gift From The Government? Part 3: CPF LIFE, Retirement Sum Scheme or Private Annuity? Which is Better? Part 4: How Can I Maximize the Payout From CPF LIFE Part 5: CPF Investment Scheme: How It Works, Inheritance & More! Subscribe to our mailing list  to get the articles delivered straight to your inbox. Back to CPF, CPF, SRS X Inheritance Series > Back to Resource > FAQ What is the difference between CPF and SRS? CPF is a tax-exempt scheme whereas SRS is a tax deferral scheme. Most parts of CPF are protected from creditors while your SRS account is not. Interest rate on SRS is lower compared to CPF saving rates. How does SRS tax work? Before your statutory requirement age, any withdrawals are generally subjected to 5% penalty and full income tax. After your statutory requirement age, you can withdraw up to $40,000 each year penalty-free for 10 years. After the 10th year, you will be taxed 50% on your remaining balance. There are exceptions and nuances. Check here for more detailed breakdown. What happens to my SRS if I die or am terminally ill? If you pass away, your SRS would be deemed as fully withdrawn on the date of death and be passed on to your estate and distributed as per your will or intestacy law. If you are terminally ill, you can withdraw your SRS in full. In both cases, there's no early withdrawal penalty and the tax treatment are the same - 50% of full withdrawal sum less an exempt amount of up to $400,000 will be subjected to tax. Disclaimer: Nothing in this article or site should be construed as providing legal advice, financial advice or advice of any sort. The information provided are general in nature and may become inaccurate over time. Please consult a professional for advice. For any issues or queries, please contact j@immortalize.io .

When you are appointed an executor, it means someone trusts and thinks you are responsible enough to do a very important task. But what exactly does it mean to be an executor? What do you have to do? In this practical guide, we will run through the key things you need to know as an executor. What is an executor? An executor is a person or entity appointed in a will to carry out the instructions written in the will to manage the affairs and wishes of the deceased person. Many people appoint their kin or friends as executors, but one can also appoint a professional executor to do the work. Usually, there will be one or two executors (normally up to four) with the addition of substitute executors in case the main executors can’t fulfill their duties. Usually, the substitute executor steps in when: The executor doesn’t want to be an executor The executor has passed away The executor cannot qualify as an executor. For example, the executor doesn’t have mental capacity . The executor is a bankrupt , unless with permission from the High Court. What happens if there are more than one executor? If there are more than one executors in the will, you need to determine if you have to decide jointly with the other executors (ie, all of you have to agree before things can proceed) or anyone of you can sign off on things. The arrangement will usually be stated in the will. If you are the sole executor, you will also need to make sure that you keep proper records as you have a fiduciary duty to the beneficiaries and the beneficiaries can potentially sue you if you don’t do your job right. What are the duties of an executor? In simple words, your job as an executor is to get the deceased person’s post-death affairs sorted. Here’s a detailed breakdown of your duties. When a person passes, the executor is responsible for: 1. Finding the last original will 2. Making funeral arrangements (as instructed in the will if any) 3. Gathering the documents and information required to get a Grant of Probate (“Grant”) Grant of Probate is a legal document issued by the court for executors named in a will to have the legal power to manage and distribute the deceased’s estate . Most institutions will not release funds or allow you to make decisions without the Grant. If the value of the estate is below SG$50,000, you can consider applying to the Public Trustee to administer the estate. You can apply for the Public Trustee to administer the estate here . If the Public Trustee agrees to administer the estate, a Grant is not needed. Note that there are circumstances where the Public Trustee cannot help administer the estate. Check here for more information on these circumstances. A lot of the information gathering revolves around compiling the Schedule of Assets , which lists down information including the deceased’s debts, liabilities and assets. Some assets such as Central Provident Fund ("CPF") monies, insurance with nominations, jointly owned properties (eg. joint-tenancy flats, joint bank accounts, etc.) are not covered under the will and thus, does not need a Grant to be distributed. Related: For more information on which CPF monies are covered or not covered under the will, check out CPF Inheritance: How It Works, Tips & More! For more information about the procedures and documents required to get a Grant of Probate, check out All About Probate & Administration (Singapore Edition) 4. After getting the Grant, you will need to gather the assets, pay off debts, liabilities, and other expenses, and then distribute the remaining according to the deceased’s will. All taxes, debts, bills and other expenses such as funeral costs have to be paid first before you can distribute the assets. Funeral, testamentary and administration expenses have priority over other debts and liabilities. Make sure you keep a record of accounts so that when beneficiaries ask for the detailed accounting (which they are allowed to), there won’t be unnecessary disputes. Measures can include opening a separate bank account under the deceased's name to keep it separate from your personal accounts and keeping all receipts of expenses. Do I need a lawyer to get a Grant of Probate? While you can technically get a Grant of Probate yourself, it makes sense to engage the help of a lawyer who specializes in probate matters to guide you through the process, avoid disputes and potentially reduce extra costs arising from mistakes. Cost to engage a lawyer to get the Grant starts from ~SG$1,500, but will vary depending on factors such as the size of the estate and how complicated the estate and probate/administration process is. You can find a list of lawyers that do probate, compare their offerings, and book an appointment immediately with them here . Do executors of a will get paid? Executors are commonly beneficiaries of the estate and that’s usually the incentive to get the job done. But at the court’s discretion , the executors may be allowed for up to 5% on the value of the assets collected. Can I refuse to be an executor? Yes. If you don’t want to be an executor, the substitute executor will be next in line to become the executor. If both the executor and substitute executor don’t want to or can’t do the job, someone else can apply and/or the court will appoint someone. Can an executor pay and outsource the work to someone else? Yes. If you are the executor, you can appoint third parties to assist you with the whole process. For example, you can hire executor assistance to help you manage the whole process, from getting the Grant to collecting and distributing the net assets to beneficiaries. Note that hiring executor assistance is different from having a professional executor named or appointed as an executor of a will. Difference between a professional executor and executor assistant When a professional executor is named or appointed as the executor in the will, the legal responsibility and fiduciary duty to the beneficiaries is borne by the professional executor. In the case where you are named the executor and you hire executor assistance, the executor assistant may be the one doing most of the work, but the legal responsibility is still on you (ie, the beneficiaries can still sue you). So do keep clear records and check on the work done by your third parties. Some firms that offer professional executor service also offer executor assistance service. You can find a list of firms that offer professional executor service that you can book immediately here . For a more personalized recommendation (it’s free!), reach out to us here . How long do I have to decide if I want to be an executor? Application for Grant of Probate must be filed within 6 months from the deceased’s death. After 6 months, executors have to explain the reason for delay. If you do decide that you don’t want to be an executor, make sure you decide fast to be considerate to the person who is going to be the executor. What to do if I don’t want to be the executor of a will? If the person who appointed you (ie, testator ) is still alive, tell the testator so that the testator can make necessary adjustments. If the person is deceased, you will need to sign a renunciation document before a lawyer or Commissioner for Oaths to confirm that you are giving up your right to apply for probate. You can find the document here . What should an executor do if the deceased have overseas assets? Assets in different countries are governed by local laws. There are generally three ways for executors to deal with them. You can apply for a separate Grant of Probate or equivalent in the foreign country; You can take the Grant of Probate that you have obtained in Singapore and reseal it in the foreign country. Resealing is the process of getting that foreign country to recognize the Grant that you have obtained in Singapore; You can apply for a foreign Grant and have it resealed in Singapore. Note: Not all Grants can be resealed as different jurisdictions have different processes and requirements. Resealing is more likely to work if the countries involved are Commonwealth countries. A probate lawyer should be able to advise you on the best course of action. You can find a list of lawyers that does probate, compare their offerings, and book an appointment immediately with them here . If you need recommendation on which lawyer is most suitable for your situation, reach out to us via WhatsApp here (it's free!). Got more questions on being an executor, feel free to email us at j@immortalize.io ! Back to Resource > Immortalize is Singapore's most comprehensive elderhood marketplace and information provider. Find out all you need to know about ageing better , retiring more meaningfully and leaving a legacy that is uniquely yours here and let us help you get these sorted easily. Outsource the work and start planning for you and your family's legacy with Immortalize Prime, your personal elderhood planning assistant ! Disclaimer: Nothing in this article or site should be construed as providing legal advice, financial advice or advice of any sort. The information provided are general in nature and may become inaccurate over time. Please consult a professional  for advice. For any issues or queries, please contact j@immortalize.io .

Autism is a condition in the brain that affects a person's ability to communicate, interact with others, etc. While therapies, education and support can improve the condition, there is no known cure for autism. As such, if you are the parent or guardian of an autistic child or adult, you may be concerned with finding the right support for the autistic person in the untimely event of your death. In this article, we explore various options to care for an autistic person should the primary caregiver passes away. Note: This article focuses on the care options for an autistic person. If you need more information on professional deputies or other financial and legal-related planning for the autistic child or adult, please speak to Immortalize about estate planning for special needs person . What is Autism? Autism, or Autism Spectrum Disorder (“ASD”), refers to a broad range of conditions characterized by challenges with social skills, repetitive behaviors, speech and non-verbal communication. ASD is a spectrum disorder, which means that how a person with autism learns and thinks can range from highly skilled to severely challenged. Not everyone with ASD requires significant support in their daily lives. Some can live entirely independently. In the following sections, we look at factors to consider when planning for care for an autistic person after the primary caregiver passes away and the options available for future caregivers. How to Care for An Autistic Person After I Die? Overview The type of care available or suitable for the autistic person after you, the primary caregiver, passes away depends on: Availability of successors If there are family members or people whom you trust and are willing to take over the responsibilities of taking care of the autistic child or adult, you can consider home-based care or day care centers to help reduce the burden on such a successor. Degree of autism Depending on where in the spectrum the autistic person falls into, the available care options will differ. Age of the autistic person Some care options are catered for autistic children while others are for autistic adults. Affordability The following charts summarizes the available options. (*Disclaimer: The charts are for the purpose of giving readers a simplified overview and are estimates on the appropriate help for people with different levels of autism. Ultimately, everything is on a case-by-case basis and caregivers should evaluate their personal needs and enquire with experts accordingly.) For anyone with Autism below the age of 18 For anyone with autism age 18 and above We will explore each of these options in turn. General home-based care for autistic child and adult Care for autistic person below the age of 18 Care for autistic person age 18 and above Others General home-based care for autistic child and adult These home-based care generally applies not only to autistic child, but also people with other disabilities and elderlies. Foreign domestic workers and live-in caregivers Foreign domestic workers and live-in caregivers ( with appropriate training) Home-based care services by Social Service Agencies Foreign domestic workers and live-in caregivers Technically speaking, a domestic worker would be a person whom we consider "maid" or "helper" in Singapore employed to do household chores. A live-in caregiver is usually someone who has received nursing or nursing aide training and who's primary duty is to take care of the care recipient and not to do household chores. A live-in caregiver usually costs more than a domestic worker. If you can afford, setting aside a sum of money to hire a foreign domestic worker or live-in caregiver can be very helpful to the future guardian of your autistic child. For aids, try: Foreign Domestic Worker Levy Concession - Allows you to pay the Foreign Domestic Worker (or Migrant Domestic Worker) levy at a concessionary rate of $60 a month, instead of $300. Each household is eligible for up to two of such concessions, caring for two loved ones at any one time. Home Caregiving Grant - A $200 monthly cash payout to support your loved ones with at least permanent moderate disability, i.e. always require some assistance to perform three or more Activities of Daily Living. Foreign domestic workers and live-in caregivers ( with appropriate training) Depending on where your child falls on the autism spectrum and the support needed, the foreign domestic worker or caregiver may not be equipped with the necessary skills to properly take care of your child. Training for the helper may be needed and this cost can potentially be subsidized by the Caregivers Training Grant , a $200 annual subsidy that lets caregivers attend approved courses to better care for their loved ones. Click here for the list of course available under this grant. Home-based care services by Social Service Agencies (“SSAs”) SSAs are non-profit organizations that provide welfare services and/or services that benefit the community at large. Some SSAs provide home care services which involve a staff visiting your home to offer support such as therapy, personal hygiene care, medication reminders, housekeeping and training in daily living skills. People eligible for such services are aged 16 with physical or intellectual disability as well as mild autism. Click here for the list of SSAs that offer home-based care services. Care for autistic person below the age of 18 Just like how the mass majority would send their child to child care and before/after school care, you could also include in your will, instructions and plans to have the future guardian send your autistic child to care centers with special programs. Related resource: Guide To Making a Will - Singapore Edition [For recommendations on which lawyer/providers are most suitable to help you write a will that caters for your autistic child/adult, speak to us here .] Child Care Sending an autistic child to a child care specializing in providing early intervention support is not only a way to provide respite to the future caregiver, but also a step towards ensuring that your child is getting help with transitioning into the next stage of their life and assimilating into society. Below are two such programs for your consideration. You can also find pre-schools that admit children who require early intervention here . Integrated Child Care Program This program is for children between the ages of 2 to 6. Such children require a low to medium level of early intervention support to prepare them for future entry into mainstream primary education. Applicants can include people diagnosed with autism. Check here for the list of Integrated Child Care Programs. Inclusive Support Program Pilot This program is for children aged 3 to 6 years who require medium levels of early intervention support. They also provide intervention and therapy services within the preschool and such services could be integrated with early childhood education. Check here for more information and for the list of Inclusive Support Programs. Before and after school care Special Student Care Centers Special Student Care Centers provide before and after school care services to Special Education school -going students with disabilities between the age of 7 and 18. This means that your child must be enrolled in Special Education schools. Check here for the list of Special Student Care Centers. Care for autistic person age 18 and above Day Activity Centers (“DACs”) If your autistic adult child requires constant care and monitoring, and your future caregivers don't have the luxury of taking care of him/her during the day, you can consider enrolling your child into DACs - a community-based facility that provides care and skills training to persons aged 18 and above with disabilities (including autism). DACs offer full time and/or part-time support during weekdays. Transport and meals are provided. Fees vary from center to center and are means-tested. Check here for the list of DACs. Residential care (Homes) If you foresee that your autistic adult child may have limited family care support and find that none of the above arrangements are suitable or viable, residential care may be the best option for your child. Currently, there are only two disability homes in Singapore that provide services to adults with the primary diagnosis of autism. St. Andrew’s Adult Home (Sengkang) St. Andrew’s Adult Home (Sengkang) , a joint initiative between the Ministry of Social and Family Development and St. Andrew’s Autism Centre, is the first residential facility in Singapore that caters for autistic adults. Website: www.saac.org.sg/saah Application process: www.saac.org.sg/saah-admission Fees: Means-testing THK Home for Disabled @ Sembawang THK Home of Disabled @ Sembawang - 20 percent of residential spots (out of 180) are reserved for adults with autism with the remaining 80% targeted at persons with intellectual disabilities. Website: www.thkmc.org.sg/services_detail/thk-home-for-disabled-sembawang Application process: Referrals for admission into the Home have to be made via SG Enable. For assistance on referral procedures, contact SG Enable at 1800 8585885 or ad.services@sgenable.sg Others It is not uncommon for persons with autism to also have intellectual disabilities . Some autistic adults live in residential care such as adult disability homes with non-primary focus on autism, community group homes, and adult disability hostels. That being said, most of these institutions cater primarily to persons with intellectual or physical disabilities. However, these options could still be considered, especially if your child is diagnosed with other disabilities on top of autism. Everything is ultimately on a case-by-case basis and caregivers should try and enquire as residential homes, care centers and programs that aren't specifically for autism may accept your case. Check here for the list of Adult Disability Homes. Check here for the list of Children Disability Homes. Check here for the list of Adult Disability Hostels. Subscribe to our mailing list to get the latest guides on planning for special needs persons and other elderhood affairs Check out more guides on the Resource page > Immortalize is Singapore's most comprehensive elderhood marketplace and information provider. Find out all you need to know about ageing better , retiring more meaningfully and leaving a legacy that is uniquely yours here and let us help you get these sorted easily. Outsource the work and start planning for you and your family's legacy with Immortalize Prime, your personal elderhood planning assistant ! Disclaimer: Nothing in this article or site should be construed as providing legal advice, financial advice or advice of any sort. The information provided are general in nature and may become inaccurate over time. Please consult a professional for advice. For any issues or queries, please contact j@immortalize.io .

All applications for Lasting Power of Attorney , a document that you can use to give people power to manage your affairs if you lose mental capacity , have to be made via an online portal from Nov. 14, CNA reports , citing the Ministry of Social and Family Development (MSF) as saying on Oct. 15. LPA applications are to be signed digitally via Singpass (previously, it has to be signed manually on a physical form) Hardcopies may still be accepted in exceptional situations subjected to approval Hardcopy LPA certified prior to the launch of the digital portal can still be submitted within 6 months from the date of the donor's signature on the form Donors (people making the LPA) and donees (people who have been assigned powers), including those who registered their LPAs before the digital launch, will be able to view their LPAs in the new digital portal Donors can share their LPA with trusted individuals and after the donor loses mental capacity, donees can share the online LPA with third-party agencies to facilitate transactions on behalf of the donor Donors will still need to meet certificate issues in-person for LPA certification to ensure that the donor understands the LPA being made as well as to make sure that there's no fraud or undue influence Note: LPA form 1 application fees ($75) are waived for all Singaporeans till March 31, 2023. To learn more about LPA, check out: Demystifying Lasting Power of Attorney (Singapore) For a list of certificate issuer and their prices, check out Immortalize Marketplace . To get help on getting your LPA, Will, Advance Medical Directive and other important last mile of life-related planning done, contact us, book a time to chat or leave your contact details . We'll do a quick chat to explain to you the key things you need to know and help you get these matters sorted. All articles and resources > Disclaimer: Nothing in this article or site should be construed as providing legal advice or advice of any sort. The information provided are general in nature and may become inaccurate over time. Please consult a professional for advice. For any issues or queries, please contact j@immortalize.io .

Khloe Kardashian, part of the Kardashian family which is one of the most recognizable surnames in the world and famous for their U.S. reality show, recently mentioned in an interview that “If I’m in a coma, I'm still getting my nails done once a week, and that’s in my will.” But is putting her coma wishes in the will the right way to do it? In Singapore, a will is a legal document that tells people your last words and how you want your assets to be distributed after one passes away. So technically, Khloe wouldn't get her wish when she is in coma because her family would only have read her will after she passes away. Therefore, if Khloe is a Singaporean living in Singapore, it would make more sense to either: Communicate it with the person she appoints to manage her personal affair in her Lasting Power of Attorney (LPA) , a legal document that gives people official powers to make decision for you if you can't make decisions for yourself (ie, lose mental capacity); or Write it down formally in her LPA. To learn more about LPA and will: Demystifying Lasting Power of Attorney (Singapore Edition) What Happens To My Stuff When I Die? (Singapore Edition) Guide To Making a Will - Singapore Edition If you have any specific wishes for when you can't make decision for yourself or just want to have a conversation about planning for potential mishaps, speak to Immortalize now and let us get these matters sorted out for you. Contact us now. WhatsApp us here , email us at j@immortalize.io , or leave your contact details here and we will reach out to you! All articles and resources > Want to get your other elderhood-related documents such as Advance Medical Directive (AMD) , and Advance Care Plan (ACP) done? Reach out and we'll help you get all these matters sorted. Disclaimer: Nothing in this article or site should be construed as providing legal advice or advice of any sort. The information provided are general in nature and may become inaccurate over time. Please consult a professional for advice. For any issues or queries, please contact j@immortalize.io .

Singapore’s boom from money pouring in from mainland China and Hong Kong expats relocating to the financial hub may be making a comfortable retirement harder to achieve, according to a Bloomberg article on retirement for Singaporeans. Below is a summary of the key highlights from the article: Long-term savings being jeopardized Inflation hovering near the highest level in more than a decade; Insufficient wage growth; Accelerating housing costs; Reluctance by many to put money in riskier, higher-yielding investments; Other financial burdens. Growing Percentage of Elders, Retirement Age Impeding wave of retirees Government forecasting that a quarter of the citizens will be at least 65 years old by 2030. Singaporeans confronting the reality of having to work longer Life expectancy rising to 83.5 years — one of the highest globally. Cultural expectation that Asian children will support their parents being tested One of the lowest fertility rate in the world and old age support ratio (number of people capable of supporting a dependent elder) plummeted to a record low of 3.8 in June and is projected to fall to 2.7 in 2030. Dependence on CPF Close to half of Singaporeans plan to count on CPF savings for retirement, Bloomberg reports, citing a survey by digital wealth platform Endowus. It may not be sufficient to survive on CPF savings given the lifestyle you want, Bloomberg reports, citing Jacquelyn Tan, head of group personal financial services at United Overseas Bank Ltd as saying. Retirement Cost Surging in Singapore Below are examples of how much different lifestyle costs, Bloomberg writes, citing OCBC Bank and SingStat data. S$2,550 - Lifestyle A: Two regional holidays a year, commutes via public transport S$3,210 - Lifestyle B: Three regional holidays a year, commutes via taxi or owns mid-range car S$5,760 - Lifestyle C: Two international holidays a year, employs full-time domestic helper Link to article: https://www.bloomberg.com/news/articles/2022-12-12/singapore-retirement-crisis-pension-savings-dwindle-as-costs-surge? All articles and resources  > Check out things you can do during retirement in our Immortalize Marketplace . Want to do your legacy planning or talk to someone to check your financial health for old age? Speak to us now, let us help you come up with a plan and recommend the right providers for you. WhatsApp us here , email us at j@immortalize.io , or leave your contact details here and we will reach out to you! Immortalize is Singapore's most comprehensive elderhood marketplace and information provider. Find out all you need to know about ageing better , retiring more meaningfully and leaving a legacy that is uniquely yours here and let us help you get these sorted easily. Find a professional, compare prices, and kickstart your estate planning Disclaimer: Nothing in this article or site should be construed as providing legal advice or advice of any sort. The information provided are general in nature and may become inaccurate over time. Please consult a professional for advice. For any issues or queries, please contact j@immortalize.io .

Singapore’s laws are still in the early stages of determining how digital assets can be managed and distributed through a will and when someone passes away without a will, according to Lianhe Zaobao, a Singapore-based news agency, article discussing estate planning for digital assets. In recent years, more people are considering including digital assets, such as cryptocurrencies and NFTs, in their wills, the agency said. But if the location and access details are not properly recorded, the asset may never be found or retrieved. Here are some key points from the article on how to do estate planning for digital assets and issues to consider: Cryptocurrencies You can state the account of your cryptocurrency and leave instructions in your will on how to access and manage the account or you can also transfer it to a hardware wallet, which can be passed on to a beneficiary as personal property. Information that can be included for the executor in the will can include the type, the amount, and the keys of cryptocurrencies with clear instructions on how to manage them, the agency says, citing Fong Wei Li, a lawyer at Forward Legal LLC. Without the login details, your beneficiary will not be able to obtain the cryptocurrencies even if he or she is entitled to them, Fong said. Cryptocurrencies may get sold before one passes away, therefore some people don't spend a lot of time planning on how to bequeath them, the agency cites Low Seow Ling , a lawyer from Eden Law Corporation, as saying. Things that have tax or ownership implications, such as residential properties or shares in unlisted companies, are more likely to be seen in wills as specific gifts, the agency cites Regina Tan, CEO at Immortalize , as saying. With digital assets, it’s more likely to be lumped and distributed as part of the rest of the estate . NFT & Social Media Whether assets can be distributed through a valid will or the intestacy law when there's no will, will depend on whether it can be classified as "property" in law, the agency cites Chua Tju Liang, a lawyer from Drew & Napier LLC, as saying Digital assets, such as NFTs (non-fungible tokens) and cryptocurrencies, are yet to be classified as "properties" based on Singapore's law, according to Chua. Singapore has yet to determine whether social media accounts are considered assets as assets are usually owned and have monetary value, according to Fong. Since accounts, such as Facebook, don't have immediate determinable monetary value, whether they can be considered as assets is still in question at this point in time, Fong said. Accounts that have many followers may have commercial value, according to Low. If the account is owned by a company, the company or the company shares can be directly bequeathed through a will, Low said. However, one should note that different social media platforms may have different policies on how accounts are dealt with after someone’s death. Link to Lianhe Zaobao's article: https://www.zaobao.com/news/singapore/story20221204-1340051 Got questions or concerns about estate planning for your digital assets? Contact us now. WhatsApp us here , email us at j@immortalize.io , or leave your contact details here and we will reach out to you! Learn more about wills: What Happens To My Stuff When I Die? (Singapore Edition) , Guide To Making a Will - Singapore Edition All articles and resources > Want to get your elderhood-related documents such as Will , Lasting Power of Attorney (LPA) , Advance Medical Directive (AMD) , and Advance Care Plan (ACP) done? Reach out and we'll help you get all these matters sorted. WhatsApp us here , email us at j@immortalize.io , or leave your contact details here  and we will reach out to you! Immortalize is Singapore's most comprehensive elderhood marketplace and information provider. Find out all you need to know about ageing better , retiring more meaningfully and leaving a legacy that is uniquely yours here and let us help you get these sorted easily. Find a professional, compare prices, and kickstart your estate planning Disclaimer: Nothing in this article or site should be construed as providing legal advice or advice of any sort. The information provided are general in nature and may become inaccurate over time. Please consult a professional for advice. For any issues or queries, please contact j@immortalize.io .

Step into the future of memorialization with Goldhill Memorial Centre, Singapore’s first smart columbarium. This sanctuary combines modern intelligence with treasured traditional values, providing families with a smart and convenient way to honor and remember their ancestors, according to Hoo Hung Chye, Deputy CEO of Life Corporation Services (S) Pte. Ltd. In our discussion with Hoo, we explored how technology has revolutionized traditional columbariums, as well as the importance of funeral pre-planning. Name: Hoo Hung Chye Company: Singapore Funeral Services & Goldhill Memorial Centre (subsidiaries of Life Corporation Services (S) Pte. Ltd.) Specialization: Smart Columbarium and Funeral-related services Base Country: Singapore Q: Can you tell me about yourself? How did you get into the funeral industry? H: My parents began in the food and beverage industry, wholesaling items like nuts and water to funeral wakes. This connection helped us build relationships with funeral service providers, and when family friends needed funeral assistance, they would always come to us. After my parents retired, I started my own funeral company called Singapore Funeral Services (SFS) in 2000. Today, we mark 23 years since its establishment. Q: How did the idea of a Smart Columbarium come about? H: In the year 2000, the funeral industry was quite outdated compared to other industries like hospitality. Funeral service providers were dressed casually, wearing slippers and shorts while escorting people to their seats, which seemed inappropriate. Recognizing the need for change, we traveled abroad to countries like Taiwan, Japan, Hong Kong, and Malaysia, where funeral services were already making positive changes. We learned many ways to enhance funeral services and decided to lead the change. We started by introducing black suits instead of casual attire. People were surprised at first, mistaking it for a wedding. However, I believed that wearing a suit not only reflected our professionalism but also respect for the grieving family. After that, we started bringing in new ideas and improvements. We introduced things like coffee machines, tablecloths, and even Wi-Fi at funeral sites. Many of the things that are now common in funeral services today were pioneered by us. The Birth of Singapore's First Smart Columbarium As pioneers in modernizing the funeral industry, we constantly look for new ideas and innovations to better celebrate and honor one's life. During our exploration, we discovered Japan's automated storage system used in temples for columbariums. This system maximized land usage efficiently. Considering Singapore's high population density and limited land availability, we realized that this concept could be applied here. Through a pilot project that we collaborated with the Ministry of National Development, we conceptualized, designed, and eventually launched Goldhill Memorial Centre (GMC), Singapore's first smart columbarium. Want to take a look at how Goldhill Memorial Centre looks like in person? Go on a GMC tour! Q: What sets Goldhill Memorial Centre apart from a traditional columbarium? H: GMC is a private columbarium that provides spaces called niches where families can keep the cremated remains of their loved ones. GMC's columbarium is smart and modern, eliminating many issues that exist in traditional columbarium while still maintaining the values and traditions associated with a columbarium. It offers privacy and convenience to family members who want to honor and remember their ancestors. There are three key advantages of our smart columbarium over traditional columbarium – privacy, welcoming environment and feng shui. Pain Points of Traditional Niches In a traditional columbarium, finding niches can be challenging due to the location having multiple blocks, levels, sections, and shelves of varying heights and orientations. Once you find it, the niches can be placed at inconvenient heights or at low positions, making the process of paying respect a little awkward. When you are paying respect to your deceased family member, it feels like an open party where you are also paying respect to everyone in the entire block. It is common to wait in line to use the space, especially when there are multiple families in the block. In the Chinese culture, it's customary to wait for the incense to finish burning before leaving, and those waiting behind you may observe your actions, which can compromise your privacy and create an uncomfortable experience. Scary Environment Additionally, in certain older temples, there are numerous old black and white pictures that are frightening to children. Children visiting these temples often feel scared because they feel that the eyes in the pictures are staring at them. These unsettling encounters make it difficult for the younger generation to establish a sense of connection with their grandparents or ancestors. Transforming Traditional Columbaria When we were designing GMC, we put in a lot of thought into solving the issues that people face at traditional columbarium. At GMC, you can easily access your designated niche with a simple card tap and password input. Our fully automated system makes it easy to locate specific niches within the columbarium. After which, you will proceed to a private booth or room where you and your family members can pay respect to the deceased and have personal and intimate moments with the deceased without worrying about being observed. You can grieve sincerely and have a quiet moment without any disturbances. The booking of the private space can be done online. During your allocated time, the multimedia screen can be used to display photos and videos, creating a special memorial tribute for the deceased. We believe that by making the experience welcoming and comforting, we can better bridge the gap and connect the different generations with their ancestors. Incorporation of Feng Shui Elements Next, the elements of feng shui were incorporated into the design of our columbarium to ensure the well-being of the deceased and their descendants. Chinese tradition believes that the burial placement of ancestors will affect the fortunes of the next three generations of descendants. Thus, choosing an ideal final resting place is important, such as burying the deceased underground with a mountain behind, ideally overlooking a vast and open expanse, or even having a sea view. The preferred orientation of the niche is “sitting north and facing south”. This concept arises from people’s desire to harmonize with natural forces and attune to the essence of mountains, rivers, the sun, and the moon. By doing so, it aims to cultivate both the body and mind with the earth's aura, fostering the growth of exceptional individuals. In the past, only wealthy families could afford to do this. Emperors, in particular, prioritized finding an ideal burial place for themselves as their feng shui would affect the fortunes of the whole nation and dynasty. So most of the imperial mausoleum faces south from the north, to show that these are treasure lands with superior geomantic omen (also known as feng shui). Want to know more about Goldhill Memorial Centre's niches? Book an appointment now to chat! Lack of Burial Space In Singapore In Chinese tradition, burial was the preferred final disposition after death, but this has been replaced with cremation in Singapore due to lack of space and most columbarium storage facilities are built above ground and facing different directions. Traditional columbarium are built like stacked “locker” units, where bottom rows are very near to the floor and the top rows very near the ceiling. This greatly inconveniences the families when they come to visit and pay respect. Thus private columbarium charge a premium for niches that are at optimal eye-levels where families can stand and the niche is in front of them, not needing to kneel down or use a ladder. Some columbarium also tag a premium to niches facing certain Buddhist statues as this is believed to bring more fortune to the deceased and their family. Premium prices can be double or triple the amount of the lowest and highest niche levels. At GMC, we make these prime feng shui elements available to more people. We created an underground storage for urns, thus fulfilling the wishes of many to be able to be “buried underground”, and consulted feng shui specialists to ensure positive energy for the descendants by incorporating the five elements of nature, which are water, earth, fire, metal, and wood, into the building’s design. Favorable Feng Shui GMC is also well situated feng shui wise. Singapore is likened to a pearl resting at the mouth of the Malaysian peninsula. Our location serves as a focal point where positive energy and vitality is generated and gathered from the vast landmass of the surrounding continent, much like a precious pearl formed by converging natural forces. It is believed to be protected by five hidden dragons that bring prosperity to the country, and that the closer you are situated near the dragon’s head the more powerful the positive force (“qi”) is. GMC is fortunate to be located on one of these dragons, aligned with this line of qi that is believed to bring greater fortune to descendants. Q: How does the price of Goldhill Memorial Centre's smart columbarium compare to that of a traditional columbarium? H: The price of a columbarium niche can vary based on factors like ownership (private or public), space, location, facing, the range of services provided, the ability to personalize the space and others. As expected, the cheaper ones tend to have more restrictions, less amenities, less consideration for feng shui, less maintenance, etc. It's somewhat like comparing public housing to private housing, and within each category, there's a wide range of offerings and pricing. But I would say that c ompared to traditional private columbarium, where a double niche (housing 2 urns) at eye level can cost between SG$20,000 and SG$40,000, our prices are slightly lower. Q: I’m assuming that most people buy the niche space as part of their funeral pre-planning. How does funeral pre-planning work? H: Whether you like it or not, death is an inevitable part of life. It’s important to plan and ensure that those you leave behind know exactly what to do and there won’t be any family disputes. Religious and financial differences within families can lead to disputes about funeral arrangements. For example, siblings who have different economic situations may argue about who is going to pay for the funeral, and multi-religious families can have disagreements about the type of wake to hold. Pre-planning a funeral is like writing a will . It allows you to clearly communicate your choices to your family while you still have mental capacity . This reduces confusion, alleviates concerns for your surviving family members, and minimizes unnecessary conflicts. You don't want to burden the next generation with difficult decisions. Inflation of Funeral Costs Funeral costs have significantly increased over the years. Nowadays, we are looking at an average cost of SG$15,000 to SG$20,000, whereas around 20 to 30 years ago, it used to cost about half of today’s price. To help deal with the increasing costs, Singapore Funeral Services is one of the few firms in Singapore that offers prepaid funeral plans to help our clients get a sense of security and relieve the burden on their mind by locking in today's prices for specific goods and services that they want in future. At present, there is no expiration on the prepaid funeral plan, and it covers the essentials such as the casket, wake duration, hearse, and transportation. You can also customize the plans to suit your needs. It’s quite similar to wedding planning, where you can customize your funeral based on your values and preferences, such as duration, religious rituals, and burial or cremation preferences. You can even choose a theme, like a specific color or a Star Wars theme, for a more personalized funeral. This interview has been edited for length. Back to profile interviews > All articles and resources > FAQs What is the difference between a traditional columbarium and Goldhill Memorial Centre's (GMC) smart columbarium? GMC's columbarium eliminates many issues that exist in traditional columbarium, such as inconvenient niche locations, a more welcoming environment, etc., while still maintaining the values and traditions associated with a columbarium. It offers privacy and convenience to family members who want to honor and remember their ancestors. How much does a niche cost in Singapore? The cost of a niche is can vary based on several factors, such as the ownership (private or public), space, location, facing, the range of services provided, the ability to personalize the space, and others. Book an appointment here with GMC to discover detailed information about their niche offerings and pricing. Immortalize Who's Who series seeks to profile service providers in the elderhood planning space to help you better identify and relate to the best, the most outstanding and the legitimate providers. Immortalize is Singapore's most comprehensive elderhood marketplace and information provider. Find out all you need to know about ageing better , retiring more meaningfully and leaving a legacy that is uniquely yours here and let us help you get these sorted easily. Disclaimer: Nothing in this article or site should be construed as providing legal advice or advice of any sort. The information provided are general in nature and may become inaccurate over time. Please consult a professional for advice. For any issues or queries, please contact j@immortalize.io .

In an increasingly interconnected world, estate planning for global assets can pose significant challenges, especially when it comes to navigating legal complexities across international borders. In this article, we discussed with Sarah Ip, co-founder of NobleWills, an online will-writing platform, on the common problems that people neglect when estate planning for their global assets and how NobleWills tackles these challenges by combining the benefits of technological convenience with the personalized approach of will-writers. Name: Sarah Ip Company: Noble Wills Limited Specialization: International Wills – Cross border estate planning Base Location: Hong Kong, with operations in Singapore & United States Service Style: Modern, Patient, and Personal Anything Interesting: History lover Enjoy up to 10% discount off your Will when you use Immortalize's coupon codes. Find out more here ! Q: Can you tell me about yourself and how NobleWills came about? Ip: I was born in the U.K. and was raised in both HK and the U.K. I am a lawyer by training and was in the legal industry for over 10 years, before starting my own will-writing business. Will-Writing vs Law Firms The will-writing industry is very different from law firms. Most law firms can only write wills for your local assets, but for will-writing companies, many have cross-border support to take care of the clients’ assets globally. This involves understanding the requirements for a will to be valid in different jurisdictions. As comprehensive as will-writing companies can be, there are many issues as well. People are increasingly doing things online. My co-founder, a programmer by trade, and I saw an opportunity to bring the benefits of what will-writing companies offer - the personalized, human touch, with the convenience of what technology can offer. We started NobleWills two years ago to disrupt the industry and to bridge the gap so that people can get the benefits of both using an online service and writing a will using a will-writing company. The online will industry in the U.S., U.K. and Australia are much more developed and saturated compared to those in Asia. With Asia’s growing economy and increasing demand for online services, we believe that there will be great growth potential for online wills in Asia. Read more: Online will vs Lawyer vs Will Writing Company - Which to Choose? Q: What are the issues that NobleWills is trying to solve? Ip: There are 2 important issues. One, many online will services are overly simple. You just fill in a form, make payment, then you get your product. There is no real person or a will specialist to review your will and answer any of your concerns. People don’t understand or even know what the repercussions of their decisions are. Additionally, there is no upscale online will service that deals with international assets. Read more: The Ultimate Guide to Online Wills (Singapore) Q: How is NobleWills different from other online will platforms? Ip: First, online wills are not common in Hong Kong. There are a few competitors out there, but their services are not very comprehensive. We offer not only online wills, but also other estate planning documents, such as Enduring Power of Attorney (EPA) and living will. [ EPA is a legal document in Hong Kong that is similar to Singapore’s Lasting Power of Attorney (LPA) . Both documents allow you to appoint someone to make decisions for you when you cannot make decisions for yourself. A living will, which is commonly known as Advance Directive in Hong Kong, has some similarities with Advance Care Plan in Singapore. Living will allows you to express your preferences and instructions regarding medical treatments and care if you become mentally incapacitated and can’t make decisions for yourself.] Beyond Just Online Services Second, even though our service is online, we still offer a personal touch to it. Our platform helps you get started on your will by asking a few basic questions. If you have overseas assets but your distribution is simple, you can straight up fill in your details for your will. You can also upgrade to our “Advanced Online Will” and have a will specialist review your will to help you identify any issues. If any issues or conflicts are found, we will mention this in our 30-minute consultation to clear up any concerns. If you have a complex situation or complicated assets, an “Advanced Online Will” won’t be enough. In this case, you can opt for our premium service and have a will specialist write a comprehensive will that caters to your specific needs. Third, we cover overseas assets which most online wills don’t. We study the different laws in different jurisdictions and stay up to date with all the law changes to make sure that our wills comply with the laws of these jurisdictions. Our wills are created based on precedence, official legal documentation from those countries, and my 10 years of experience in the legal industry. Lastly, we also offer professional printing where we use a special kind of paper with golden binding products to commemorate this important and significant document. It may be a small touch, but it shows the thoughts that go into our work. Want to conveniently complete your will online? Try NobleWills now. Q: What is your typical client? Ip: Many of our clients are in their 30s and married with children. They want to use a will to protect their kids. We have many U.K. clients, because structuring their wealth can help them reduce a lot of inheritance tax . We also have clients from Australia, U.S., and countries such as Thailand. Q: What are the key problems that people face when it comes to international assets? Ip: One of the key problems when it comes to planning for international assets is the need to consider rules in different countries. To resolve that, people will usually go to different lawyers in different countries to create different wills that are specific to the jurisdictions that the assets are in. This could create serious complications, such as not taking inheritance tax into account which may mean losing the opportunity to optimize and save on taxes. For example, in some countries such as the UK, inheritance law may extend to someone’s global assets. The global assets may then be subjected to UK taxes. One of the most catastrophic outcomes that could happen when the wills were not written in consideration of each other is that the wills could end up revoking one another. Q: What is the benefit of going to NobleWills rather than engaging a lawyer? Ip: Convenience and cost. A lot of our clients have multiple assets in different countries and wish to get things done in one place. At NobleWills, you can get everything done online and covered in one place rather than having to physically visit different law firms. Moreover, we allow unlimited updates to your will under our “Editing Membership” for a small fee. The cost is significantly lower than getting your will amended at a law firm and even some will-writing firms. Q: Can you tell me about your interests and hobbies? Ip: I love reading, travelling, technology, and learning about history from different countries. Before I travel to a new country, I always like to read up on its history first. This interview has been edited for length. Read more: Online will vs Lawyer vs Will Writing Company - Which to Choose? What Happens To My Stuff When I Die? (Singapore Edition) The Ultimate Guide to Online Wills (Singapore) Enjoy up to 10% discount off your Will when you use Immortalize's coupon codes. Find out more here ! Back to profile interviews > All articles and resources > FAQs Are online wills legal? The legality of online wills can vary depending on the jurisdiction. In many countries, including Singapore, the United States, and United Kingdom, online wills can be considered legally valid if they meet certain requirements. Should you use an online will? Whether to use an online will or not depends on your specific circumstances and preferences. Here are a few factors to consider when making your decision: complexity of your estate, legal requirements, confidence in your ability to navigate the process, need for legal advice, and cost considerations. It's essential to make an informed decision based on your unique circumstances. Want to inquire more about online wills? Speak to Immortalize here now. Immortalize is an Elderhood marketplace and information provider. We make planning and executing your plans for ageing, retirement, legacy and everything elderhood-related simple, easy and comprehensive! Immortalize Who's Who series seeks to profile service providers in the legacy planning space to help you better identify and relate to the best, the most outstanding and the legitimate providers. Find a professional, compare prices, and kickstart your estate planning Disclaimer: Nothing in this article or site should be construed as providing legal advice or advice of any sort. The information provided are general in nature and may become inaccurate over time. Please consult a professional for advice. For any issues or queries, please contact j@immortalize.io .

Bonsai cultivation, a therapeutic pastime commonly associated with middle-aged individuals and retirees, is now enthusiastically embraced by the younger generation, according to Han San Chong, co-founder of Bonsai Inc., a bonsai plant supplier and specialist firm. We spoke to Han San to learn more about what to look out for and how to prevent rookie mistakes when cultivating a bonsai tree. Name: Chong Han San Company: Bonsai Inc. Specialization: Bonsai plant supplies and Bonsai Appreciation Workshop Base Country: Singapore Get 10% discount when 2 or more people sign up! Q: Can you tell me about yourself? How did Bonsai Inc. come about? Han San: Bonsai Inc. really came about to solve many problems that exist in this industry. The market is opaque about prices and many bonsai shops charge based on who the customer is. The shops don’t manage their inventory well, and so, prices can vary a lot. It might be $10 today and $15 tomorrow. My business partner saw a chance to improve the industry and make it more open. He wanted to start a transparent, customer-friendly retail business that offers a special experience for both bonsai enthusiasts and beginners. We launched Bonsai Inc. in 2021, the second year of the COVID-19 pandemic. At that time, more people became interested in plants and buying plants for homes was a trend. Q: What sets Bonsai Inc. apart from other bonsai stores? Han San: Bonsai tree prices are determined by objective factors like size, age, and rarity. However, a significant part of the valuation also depends on subjective components like the artistic appeal to the customer. That makes it hard to be very sure on how much a bonsai tree is worth. At Bonsai Inc., we try to make pricing clear and transparent. You can find out about the price of our bonsai plants on our website and decide whether that’s suitable for you. Second, we have a unique bonsai showroom that is a hybrid of indoor and outdoor spaces. Our outdoor garden allows you to appreciate bonsai trees in nature, while our indoor gallery offers a comfortable air-conditioned environment where you can learn about different types of bonsai, their history, and how to identify them before making a purchase. Next, our bonsai collection is diverse. While popular Japanese species like black pine and juniper are available, we also offer rare options like the silverberry, pepper plant, Korean Hornbeam, and olive, which aren't commonly found in the Singapore market. Our range includes bonsai from Japan, Korea, Taiwan, and Southeast Asian countries like Vietnam, Indonesia, and Malaysia. Q: What challenges do you encounter in the bonsai industry? Han San: Entering the bonsai market in Singapore is challenging because suppliers must meet specific requirements and obtain a special license for importing bonsai. We also had to personally visit nurseries in Japan and other Southeast Asian countries to find bonsai trees. This became even harder during the COVID-19 pandemic when travel was restricted. For example, Japanese providers often prefer to focus on their domestic market, making it tough to convince them to export bonsai. Nonetheless, we managed to overcome the challenges posed by the pandemic and successfully brought Japanese bonsai to Singapore. Q: Who is bonsai cultivation suitable for? What makes bonsai interesting? Han San: Bonsai is suitable for people of all ages. Bonsai has a rich history spanning centuries. While it used to be associated primarily with the older generation, it has evolved to become a hobby embraced by people of all ages. Many, especially the younger generation, find bonsai to be incredibly therapeutic. Bonsai allows individuals to bring a piece of nature into their homes. Unlike the typical potted flowers or herbs, bonsai trees are miniature versions of real trees that can thrive for many years. Many corporate clients have also shown interest in bonsai, using them as gifts for important clients or as office decorations to improve feng shui. Some bonsai types are believed to have spiritual meanings, attracting those who believe in feng shui and want to create spaces with positive energy and conducive for success. Lastly, bonsai offers a canvas for creativity. Enthusiasts can sculpt and trim bonsai to achieve their desired shapes, allowing for artistic expression and personalization. Q: What are some important aspects about bonsai that people may not be aware of but should keep in mind? Han San: One common misconception is that people believe bonsai is easy to care for. Since bonsai are miniature trees, they often think that they can simply purchase one, take it home, and let it grow on its own. While it's not overly complicated, it does require dedication. Bonsai requires daily care, including regular watering in the right amounts, and ensuring the plants receive adequate sunlight. It's somewhat akin to having a pet dog – you must feed and walk it regularly. Another misconception concerns whether bonsai can be kept indoors, as trees are typically associated with outdoor settings like gardens or roadsides. In the past, growing bonsai indoors was impractical because they require water and natural sunlight, like any other tree. However, with the advent of artificial grow lights, it's now possible to cultivate bonsai indoors. Lastly, some people mistakenly view bonsai as an expensive hobby. While there have been reports of extremely valuable bonsai trees selling for millions of dollars, beginners can start with a budget of less than SG$100. This affordability is why we initiated our Bonsai Appreciation workshop – to help individuals understand what to look for when selecting a bonsai and how to create their own without having the need to break the bank. Q: Could you share some of the key topics you cover during your Bonsai Appreciation workshop? Han San: Our Bonsai Appreciation workshop begins with a tour of both our indoor and outdoor galleries. Following this, we provide a brief introduction to various bonsai species, essential bonsai knowledge and care guidelines. The primary focus of our workshop is teaching participants how to avoid inadvertently harming their bonsai. Many beginners struggle because they don't have the right guidance or knowledge. For instance, they may have difficulty figuring out how much water to give, which can lead to overwatering (suffocating the bonsai) or underwatering (causing it to dry out), or not giving proper amount of sunlight. Another crucial aspect we emphasize in the workshop is the choice of soil for bonsai. It's important to understand that various bonsai species need specific soil formulations. Over years of practicing bonsai cultivation, we've created distinct soil formulas tailored to the diverse bonsai species. For instance, bonsai originating from temperate regions like Japan require a specific soil mixture, while local bonsai, which are of tropical origin, demand a different type of soil. Furthermore, we stress that a bonsai is not solely about the tree itself - it includes the pot that it is placed in. The term "bonsai" finds its roots in Japanese, originating from the fusion of two Japanese words: "bon," signifying "tray" or "pot," and "sai," denoting "planting" or "cultivation." In Chinese, it is referred to as "盆栽" (pronounced as "pen zai"), which literally translates to “pot cultivation". Many people mistakenly assume that when they visit a nursery, they're acquiring only the plant, which is often housed in a cheap plastic pot. Bonsai must be designed, and that includes selecting the appropriate pot. Thus, we teach participants on how to design a bonsai, transforming a natural element into something unique. While you can't alter the core appearance of a bonsai, as you gain familiarity, you'll learn what to look for and how to adapt its design to your preferences. It's akin to collecting wine. At first, you may have little knowledge, but as you delve into it, you begin to distinguish better options. Q: What are the drawbacks of owning a bonsai? Han San: In the end, a bonsai is a living thing. It requires regular care and attention, just like taking care of a pet. You need to water them appropriately, provide the right amount of sunlight, and groom and trim them to keep them healthy and aesthetically pleasing. This commitment can be challenging for people with busy lifestyles. So if you travel a lot, this can be a big problem. Leaving your bonsai alone for days could result in your bonsai being infested with pests or diseases, and it might even die. Q: Are there any interesting new trends happening in the bonsai community? Han San: One noteworthy trend that has caught our attention is the increasing number of young newcomers embracing this hobby. Historically, bonsai-keeping was often associated with middle-aged individuals and retirees. However, there is a growing phenomenon of youngsters in their twenties enthusiastically adopting bonsai as a pastime. Many have expressed how cultivating bonsai gives them a pleasant mental state of mind in today's fast paced world. On social media, we've also noticed a growing trend where people are showcasing unique bonsai creations. For example, there's a Taiwanese artist who excels at making super miniature bonsai, often called "bean-sized" bonsai, which can be as tiny as 1-3 inches tall. This interview has been edited for length. Back to profile interviews > All articles and resources > FAQs Are bonsai easy to take care of? While it's not excessively challenging, there are some important considerations to keep in mind. Bonsai demands consistent care and attention, which includes providing the correct amount of water and ensuring they receive sufficient sunlight. It's somewhat comparable to the responsibilities of having a pet dog – you need to provide regular nourishment and exercise. Is growing bonsai expensive? While many believed that bonsai are costly, there are budget-friendly choices options for beginners, with prices starting at around SG$100. If you're interested in delving into the fundamentals of bonsai, such as various species and proper care, you can explore these topics by attending a Bonsai Appreciation class offered by Bonsai Inc. here . Immortalize Who's Who series seeks to profile providers in the elderhood planning space to help you better identify and relate to the best, the most outstanding and the legitimate providers. Immortalize is Singapore's most comprehensive elderhood marketplace and information provider. Find out all you need to know about ageing better , retiring more meaningfully and leaving a legacy that is uniquely yours here and let us help you get these sorted easily. Disclaimer: Nothing in this article or site should be construed as providing legal advice or advice of any sort. The information provided are general in nature and may become inaccurate over time. Please consult a professional for advice. For any issues or queries, please contact j@immortalize.io

CPF Investment Scheme allows us to invest our CPF savings in something that can potentially pay us more than CPF's 'high' interest rates. But should we do it? Is it worth it? How does it work? What happens to these investments if I die? We will investigate these concerns in Part 5 of this CPF x Inheritance series. Related: Part 1: CPF Inheritance: How It Works, Tips & More! Part 2: CPF LIFE - The Best Gift From The Government? Part 3: CPF LIFE, Retirement Sum Scheme or Private Annuity? Which is Better? Part 4: How Can I Maximize the Payout From CPF LIFE What is CPF Investment Scheme (CPFIS)? Before you turn 55 years old, your CPF should have Ordinary Account (OA), MediSave Account (MA), Special Account (SA). After you turn 55, a Retirement Account (RA) will be set up for you and later on, you will also get involved with CPF LIFE. CPF Investment Scheme allows you to invest using your OA and SA savings. You can use your CPF savings to invest in products such as insurance, unit trusts, fixed deposits, bonds and shares through two investment schemes: CPF Investment Scheme-Ordinary Account (CPFIS-OA) CPF Investment Scheme-Special Account (CPFIS-SA) You are eligible to invest under CPFIS if you: are at least 18 years old; are not an undischarged bankrupt; have more than $20,000 in your OA; and/or have more than $40,000 in your SA; and have completed the CPFIS Self-Awareness Questionnaire (SAQ) Should you invest your CPF savings? CPF saving rates are very attractive compared to fixed deposit rates but if you are young, this should be the case as you are locking up your funds for a longer period of time and should be compensated for this illiquidity. Whether you should forgo that attractive interest rate and direct your CPF OA and SA funds to somewhere else depends on whether you can find an investment that pays more than CPF saving rates and whether that investment suits your risk profile. What are the interest rates on CPF accounts? While we can't advise you on what to invest in, we have included an overview of CPF saving rates below for your comparison convenience. Ordinary Account - At least 2.5% p.a. Special Account - At least 4% p.a. Medisave Account - At least 4% p.a. Retirement Account - At least 4% p.a. CPF LIFE - Same as RA Note that these rates may change. Check here for the latest rates and here for how the rates are determined. What can you invest your CPFIS-OA and CPFIS-SA in? Check here for the list of CPF-approved investments. Note: If all these comparisons seem complicated, you can consider outsourcing the work to someone else. You can find and compare a list of financial consultants here or speak to us here for recommendation on a financial consultant that suits your needs and style. How to invest your CPF savings? You will first need to take a Self-Awareness Questionnaire (SAQ), which assesses basic financial knowledge and suitability, before you can start investing under CPFIS. There are different rules and requirements for investing via your OA compared with investing through your SA. We will illustrate them in turn. For CPFIS-OA You have to set aside $20,000 in your Ordinary Account (OA) before you can invest You can only invest up to 35% and 10% of your investible savings in stocks and gold (referred to as stock and gold limits) Investible savings = Sum of your OA balance and the amount of CPF you have withdrawn for investment and education. You need to open a CPF Investment Account with one of the following CPFIS agent banks with your CPF statement before you can buy/sell your investments: ● DBS Bank Ltd (DBS) ● Overseas-Chinese Banking Corporation Ltd (OCBC) ● United Overseas Bank Ltd (UOB) Note: You can only maintain one CPF Investment Account at any one time. For CPFIS-SA Have to set aside S$40,000 before you can invest You don’t need to open a CPF Investment Account to invest your SA savings. You can directly buy/sell your investments with the service and product providers. See the list of providers here. You will need to bring along your identity card and a copy of your CPF statement for the product provider to verify your CPF account number. The product provider will also require you to declare your SAQ status and/or ask to view a copy of your SAQ status. After which, CPF Board will liaise with the various product providers to settle your purchase and sale of investment, and keep track of your investment holdings and transactions. Note: These procedures may change. Check here for the latest instructions on how to invest via the CPFIS. Where does the money go when you sell your investments in CPFIS? For CPFIS-OA, the sale proceeds will be credited into your CPF Investment Account. The money will remain there unless you instruct your agent bank to transfer the amount into your OA. Your agent bank will also automatically transfer the cash balance held in your CPF Investment Account to your OA if your Investment Account has been inactive/there's no investment transactions for two consecutive months. For CPFIS-SA, sales proceeds will be credited into your SA. Are my profits from CPF Investment Scheme taxable? No, the profits, interest earned from investments and dividends are not taxable under the CPF Investment Scheme. Can I withdraw my CPFIS investments? Yes, but only upon reaching 55 years old and you have set aside the Full Retirement Sum (which is 2 times of Basic Retirement Sum) in your Retirement Account. The Full Retirement Sum can be set aside fully with (1) cash, or (2) if you have a property, cash to at least the Basic Retirement Sum. You can check the Basic Retirement Sum that's applicable to you here. You do not have to sell your investments. Once your application has been approved, the CPFIS investments will be transferred to you. Your CPF Investment Account will be closed once you apply to withdraw your investments. What happens to my CPFIS investments after I die? The investments will form part of the estate and be distributed based on will or if you don't have a will, based on intestacy law. The administrators or executors of the estate can claim investments and cash balances from the product provider or agent bank. Note: Because your CPFIS forms part of your estate, your funds in CPFIS are not protected from creditor claims on any outstanding debts. This is in contrast with CPF OA and SA which fall under CPF nomination and thus, are protected from creditor claims. Related: Estate Distribution Under Will and Intestacy Laws CPF Inheritance: How It Works, Tips & More! Immortalize is a Last Mile of Life marketplace and information provider. We make planning and executing your retirement plans, legacy plans, eldercare and everything related to this spectacular last stage of life simple, easy and comprehensive! Outsource the work and start planning for you and your family's legacy with Immortalize Prime, your personal last mile of life assistant! Next: Supplementary Retirement Scheme: How It Works, Inheritance & More Subscribe to our mailing list to get the articles delivered straight to your inbox. Back to CPF, CPF, SRS X Inheritance Series > Back to Resource > FAQ Are profits from CPF Investment Scheme taxable? No, the profits, interest earned and dividends earned are not taxable under the CPF Investment Scheme. What happens to my CPFIS investments after I die? The investments will form part of your estate and be distributed based on will or if you don't have a will, based on intestacy law. The administrators or executors of the estate can claim investments and cash balances from the product provider or agent bank. Does CPF nomination cover my cash and investments under the CPF Investment Scheme? No, cash and investments under CPF Investment Scheme are not covered by CPF nomination. Disclaimer: Nothing in this article or site should be construed as providing legal advice or advice of any sort. The information provided are general in nature and may become inaccurate over time. Please consult a professional for advice. For any issues or queries, please contact j@immortalize.io

CPF LIFE, Singapore's national longevity insurance annuity scheme, is a retirement scheme that most Singaporeans and permanent residents born after 1958 have to be enrolled it. But should we try to maximize it or should we try to get out of it in search for a better longevity risk hedge? In Part 1 of Immortalize's CPF LIFE series, we went through the basics of how CPF LIFE works and pitted CPF LIFE against the Retirement Sum Scheme (RSS). Recap: CPF Inheritance: How It Works, Tips & More! We've concluded that CPF LIFE is better than RSS in terms of payout duration but RSS is better than CPF LIFE in terms of monthly payout and inheritance. But does that mean we should minimize our contributions to CPF LIFE? Is CPF LIFE comparable to private annuity offered out in the market? In Part 2 of this CPF LIFE series, we'll explore these considerations. Note: Annuities are financial products that provides a stream of payouts for a predetermined period of time. Is Retirement Sum Scheme or CPF LIFE better? Here's a table to summarize what we have discussed. In short, the longer you live, the more 'worth it' CPF LIFE becomes. So which should you choose? It depends on your agenda and needs. (Note that the following discussions are the author's opinion and not advice of any sort) Choose CPF LIFE if you can and try to maximize the payout from it. The purpose of RSS or CPF LIFE is to ensure that you have enough money to spend in your old age. It's about protecting you and your welfare, not maximizing what you leave behind for others. There are other tools you can use to protect your family. "If You Can" To maximize payouts from CPF LIFE means to sacrifice what you can have now for what you can have in future and not everyone can sacrifice now for the future, especially if you need the money now to survive. Scenarios where CPF LIFE may not be the best option Scenario 1: If I am terminally ill now, I would apply to withdraw my CPF. Whether you need the money now or not, CPF LIFE is not worth it from an investment viewpoint if you expect to die soon. Scenario 2: If I am super rich and have (1) a huge portfolio generating perpetual income; (2) mechanisms in place such that I won't accidentally get scammed and lose my money, especially when I'm older and more vulnerable, then longevity risk is not an issue for me. I will stay with RSS or opt out of CPF LIFE. Check here for the criteria to opt out of CPF LIFE. Examples of why people don't want to be in CPF LIFE Example 1: "I don't think I will live that long because my parents/grandparents didn't live that long." The life expectancy in Singapore in 2020 was ~84 years old, which means there's ~50% chance you will live past 84 years old. 50 years ago, the live expectancy was ~66 years old. Better technology, healthcare and quality of life will only improve the average life expectancy and this means that there's going to be a higher and higher chance that you will live older and older. If I die early, there's nothing much I can do. But what if, just what if, you live past 100 years old? Are you prepared for that? Example 2: "My family will take care of me if I run out of money." Sure. But having additional cashflow from CPF LIFE can lessen their financial burden and help them better take care of you. How CPF LIFE Compares to Private Annuity Plans? CPF LIFE is a non-profit scheme administered by CPF Board. As such, it doesn't incur advertising, agents' commissions and other costs that a private operator will incur. The lower costs, together with a large member base, allows for longevity risk and costs to be better spread out among many people. This means that the pricing of CPF LIFE premium for the same kind of return will be better compared to privately run annuity plans. Pays out for as long as you are alive Most private retirement income plans that are available for the masses only last for a fixed period of time. High return and close to zero risk Backed by the Singapore government, CPF LIFE offers one of the highest return on any close to risk-free asset, ie, not only will you get the payout, the entity guaranteeing you the payout won't go bust and will definitely give you your money. Best Gift From the Singapore Government? There are definitely situations where CPF LIFE is not ideal. But for most of us, CPF LIFE is the best gift from the Singapore government to hedge longevity risk. And as with all good things, there is a limit to CPF LIFE. You can't have unlimited amounts of it. CPF LIFE is a great tool, but it may be inadequate as a complete longevity risk hedge, especially if you have a high monthly maintenance. There is a cap to the amount you can put in and thus, a maximum amount that you can get. In Part 3 of this CPF LIFE series, we'll explore how to optimize your funds to ensure the maximum payout from CPF LIFE. Next: How Can I Maximize the Payout From CPF LIFE? Subscribe to our mailing list to get the articles delivered straight to your inbox. Back to CPF, CPF LIFE, SRS X Inheritance Series > Back to Resource page > Immortalize is a Last Mile of Life marketplace and information provider, helping people find the right providers to do all their life, death, estate and legacy planning and execution all on one platform. Need someone to help with your CPF inheritance, will, lasting power of attorney and other last mile of life affairs? Outsource the work to Immortalize Prime, your personal last mile of life assistant! FAQ CPF LIFE, Retirement Sum Scheme or Private Annuity? Which is Better? CPF LIFE is probably the best priced hedge against longevity risk because it pays out for as long as you are alive and has the highest return for any close to risk-free asset. Disclaimer: Nothing in this article or site should be construed as providing legal advice or advice of any sort. The information provided are general in nature and may become inaccurate over time. Please consult a professional for advice. For any issues or queries, please contact j@immortalize.io