Recently buzzing in the news are stories of Britney Spears’s struggle with conservatorship. But what exactly is it and what’s happening there? In the United States, a conservatorship, also known as a legal guardianship, is granted by a court for individuals who are unable to make their own decisions, like those with dementia or other mental illnesses. In simple language, if you can’t make your own decisions, the court will choose someone to make decisions for you. In Singapore, a similar concept exists and it’s called deputyship . When the court appoints the “guardian” for you, the “guardian” is your deputy . In Britney’s case, she was under conservatorship helmed by her father, Jamie Spears, since 2008 after several public meltdowns. Since then, her father has control over decisions regarding Britney’s money, work and life. In June 2021, Britney officially asked the court to end her conservatorship, saying, in short, her conservatorship is “abusive” and she just wants her life back. The story is still unfolding and there’s always two sides to the story. But one thing we learned – pick your own guardians while you still can. In Singapore, you, your parents and your loved ones can achieve just that by doing a Lasting Power of Attorney - a document that allows you to appoint your preferred "guardian". You never know when you may get into an accident, or lose mental capacity. By doing your Lasting Power of Attorney , you can avoid having someone you don't want to manage your finances and personal affairs, and prevent your loved ones from having to fight it out in court. Find out more about how to do your Lasting Power of Attorney here: Demystifying Lasting Power of Attorney (Singapore) - Explaining in Common People language Still undecided about writing a Muslim Will? All articles and resources  > 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! 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 .

Inheritance can be very different not just in different countries, but also for different religions. In Singapore, Muslims and non-Muslims are subjected to different sets of inheritance law. If you are a non-Muslim, when you die, your money and other assets will be distributed based on your valid will or in the absence of a will, based on Singapore’s intestacy law . Read more: Intestacy in Singapore For Muslims, the distribution will be based on Faraid , or Muslim inheritance law. With a valid will, up to 1/3 of your estate can be distributed to non-Faraid beneficiaries. (Note: This article is intended for Muslims in Singapore. Check out What Happens to My Stuff When I Die? (Singapore Edition) for non-Muslims) Who's a Muslim? According to the Administration of Muslim Law Act ("AMLA") , a "Muslim" is a person who professes the religion of Islam and if you are a Muslim domiciled in Singapore, Muslim law applies to you. What is Faraid? Faraid is the Islamic law on inheritance and deals with how a deceased Muslim’s assets are distributed. Faraid is under AMLA and the Syariah Court in Singapore manages it. Under AMLA, the Majlis Ugama Islam Singapura (" Muis"), also known as the Islamic Religious Council of Singapore, is a statutory body that advises on all Islam matters and looks after the Muslim community in Singapore. How your assets will be distributed under Faraid depends on your family composition. For example, a son gets twice the share of daughter and in the absence of what’s considered a male heir (eg. son or uncle), a portion of the estate will be given to Baitulmal, or in simpler terms, given to the Muslim community. (We'll discuss more about Baitulmal in a later section of this article.) If you want a rough idea of how your assets will be divided amongst beneficiaries , you can use the online trial inheritance calculator . But to get an absolute calculation, you must get an Inheritance Certificate from the Syariah Court , which you can apply online through their website. Here is a step-by-step guide on how to apply for an Inheritance Certificate. You are allowed to will away a maximum of 1/3 of your entire estate to non-Faraid beneficiaries. If you have a Muslim will ( Wasiat) , your executor (the person you appoint to distribute your assets) will need to go to court to get a grant of probate before distributing your assets according to your will. The rest will be distributed under the Faraid. If you don’t have a Muslim will, your next-of-kin will first need to be appointed as an administrator (the person the court approves to distribute your assets), get a grant of letters of administration , and your assets will be given out based on the Faraid. Why Do Muslims Need a Will? If the Faraid has already decided for me, why do I still need to have a will? A will can be used to distribute assets to non-Faraid beneficiaries, such as a non-Muslim spouse, an adopted child, charity or friends. See related articles: Muslim Estate Distribution Bias for Men , Online Wills Can Help Disadvantaged Muslims Here are some advantages of writing a Muslim will: What Makes a Muslim Will Valid ? A valid non-Muslim will has these main requirements: You must be 21 years old or above and it must be in writing Witnessed and signed in front of two adults (to ensure that you have a sound mind) Witnesses cannot be beneficiaries or spouses of beneficiaries For a Muslim will to be valid, according to Muis , there are additional requirements such as: The will has to be witnessed by at least 2 male Muslim adults The beneficiaries can only be non-Faraid beneficiaries The purposes must be permissible by Islamic law These are just some of the key rules to keep in mind, but we encourage you to find a lawyer who is familiar with Syariah law to make sure your Muslim will is valid. Find and compare lawyers that can deal with Muslim law at Immortalize Marketplace . What is Baitulmal? Baitulmal, administered by Muis, is the institution that acts as a trustee for the Muslims. It looks after assets from which members of the Muslim public could benefit from. All or part of your estate may go to Baitulmal if, for example, There are no rightful beneficiaries No one claims your estate You have no male heir Not Everything Falls Under Faraid Faraid and Muslim will only applies after a person’s death. During one’s lifetime, a Muslim can give to whoever he/she wants. If you plan in advance, there are tools available that can help you better protect the interest of your family and loved ones. Here is a list of some Muis-suggested alternative estate planning tools that you can use: Hibah - Gift given out while you’re alive. CPF and insurance nomination - Treated as gifts. Your CPF and insurance will be distributed based on your nomination after you pass away. Without nomination, they will go to your estate and be distributed based on Faraid. Joint Tenancy - For properties held under joint tenancy, the right of survivorship applies and the surviving owner gets 100% of the property when a co-owner passes away. Deed of Family Arrangement - A legal document that can allow beneficiaries of an estate to alter the distribution made under the will or intestacy laws. There are many other known instruments such as a trust, Nuzriah or Hibah Ruqbah. Please consult a lawyer who is familiar with Syariah law on what's most suitable for your circumstances. Find and compare lawyers that can deal with Muslim law at Immortalize Marketplace . What is the Probate and Administration Process like for Muslims? Before your executor or next-of-kin can process your assets, they will have to go through a legal process called probate and administration to get a grant from the court that gives them official rights to manage and distribute your possessions. Muslims and non-Muslims go through a very similar probate and administration process. Read more: Probate & Administration (Singapore Edition) The key difference between Muslims and non-Muslim's probate and administration process is that a Muslim executor/administrator has to first get an Inheritance Certificate, indicating who are the beneficiaries and how many shares of the estate each beneficiary is entitled to. Read more: What Happens To My Stuff When I Die? (Singapore Edition) How Does Muslim Inheritance Work in Singapore? Guide To Making a Will - Singapore Edition How to Choose Beneficiary, Executor in My Will? Online will vs Lawyer vs Will Writing Company - Which to Choose? How To Find The Right Lawyer For My Will? Still undecided about writing a Muslim Will? All articles and resources  > 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! 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 .

There are many roboadvisors in Singapore and across the world that you can choose from. What's the difference between them and how should you decide which one to use? In Part 2 (Part 1 here ) of Immortalize's chat with Samuel Rhee , Chairman and Chief Investment Officer at digital advisory platform Endowus , we discussed the key tenets of roboadvisors and issues with some of such providers in Asia. Highlights: Providing advice to the masses, easy to use and low costs are key tenets of roboadvisors Some "roboadvisors" in Asia are essentially fund managers with no prior experience and a marketing gimmick Active management generally underperforms and not the right way for an individual to invest long term Q: Can you tell us more about the roboadvisory part of Endowus? Rhee: I want to separate us from other so called “roboadvisors”. (Roboadvisors are online platforms that provide automated, algorithm-based financial planning services. The roboadvisor collects information from clients about their financial situation and future goals through an online survey and then uses the data to offer advice and automatically invest client's money) We bring advice to the masses, we have great UX (user experience) and low costs, and these are the key tenets of some roboadvisors. More importantly, Endowus gives the masses access to institutional funds, ESG (Environmental, Social and Governance) funds and other great investment options that were previously not available or accessible for individual retail investors. Related article: Secret To Investing Like Sovereign Funds - Don't Pay High Fees: Endowus What a lot of roboadvisors in Asia are doing wrong is that they ended up becoming a fund manager, actively allocating assets and the costs are still really high. Q: Let me get this right. There is a spectrum of “roboadvisors”. On one end, it’s like a fund of funds where they actively allocate to funds and other assets using some indicators and then on the other end, it’s like an automated financial advisor and you lie on this side of the spectrum? Rhee: Yes, it’s all about advice and we are what's called a digital independent financial adviser. It's not just about choosing a financial advisor; it is more important to choose a fee-only advisor so that the advisor is not inclined to push funds that will pay them the highest fees. When you're selling a product, financial advisors should be providing a holistic assessment of personal financial situation. And that's what we hope to do. We don't get paid by anybody except the individual investor. Fee Rebate 100% of the trailer fees (fees paid to salesperson by the fund manager) that we receive are rebated back to the customer. We don't keep a single cent and we offer a flat fee to the client for the advice and services that we provide. This is the clean and transparent way to do business, it's the best way to do it, the right way to do it and is how it is done in the US and other developed markets. Quant Funds Many of these Asian roboadvisors say, “We have an algorithm that's going to beat the market,” and none of them have ever managed client assets before and a lot of these “roboadvisors” are not doing too well these days versus if you had a passive asset allocation like with Endowus. What all this in finance is called ‘quant’. It’s been around for decades. There are massive and amazing quant investors like Renaissance Technologies and Two Sigma . They have supercomputers and massive algorithms, and they try to beat the market. Marketing Gimmick? What these other roboadvisors have is an unproven product that is not generating returns. Also, when global fund managers like PIMCO and Blackrock can do this better, why would you want to give money to these robos who have no prior experience? They just package it in a marketing gimmick to sell it to gullible retail investors at a high cost. There's no robo, there's no advice, and so it really is a misnomer. Active vs Passive Investing It is very difficult to beat the market and history has proven that active management generally underperforms and it's not the right way for the individual to invest. We espouse a very passive strategic asset allocation and investment framework. We offer the advice, access and low costs, and we build portfolios for you with one click. We also have a fund platform where we offer the lowest cost access to funds. The way to look at us is that we’re a digital private bank or a digital independent financial advisor that you don't have to wait until you have $10 million to go to be serviced. You can start with $1,000 in Endowus now and get the same high-quality advice, access, and cost. It is a cheaper and better experience. Easy CPF Investing We make investment easy, have the lowest cost and we are the only platform that can do CPF, cash and SRS, which is all the money that exist in Singapore for an individual. For CPF, we are the first and only digital advisor approved by the CPF Board. [CPF, or Central Provident Fund, is Singapore's mandatory social security savings scheme. SRS, or Supplementary Retirement Scheme, is a voluntary scheme to encourage individuals to save over and above their CPF savings .] Q: Let’s talk about your unique selling point starting with CPF. You are the only roboadvisor that can do CPF now. How long do you think you can hold the ‘only you can do CPF’ title? Rhee: We don't want to be the only and we don't mind if others come in. It's just that we're the only ones that invested a lot of money with 20 engineers to really want to solve this problem. Investing Without Guarantees We're the ones who are committed to making that change happen, and it was without any kind of certainties. CPF board didn't guarantee us anything. We had to interact with various government agencies through the process, such as the Ministry of Manpower, CPF, MAS (Monetary Authority of Singapore) and other government bodies. We went through all of that for two years and invested millions of dollars in a technology platform that may not even be used. We went out there on a limb to solve this problem that we thought was critical to the future of this society and this country. Q: But once you open the floodgate, isn’t it a lot easier for competitors to come in and offer CPF investing? Rhee: That's what you would think, but two years later, we’re still the only one. The reason is simple and it’s because of the technology step. It’s really easy to do cash, meaning, you get clients’ money, you give it to an executing brokerage, they execute in the market and you're done. Automating Layers of Transactions For us, we have to deal with the investment agent bank, CPF board, investment administrator, custodian, settlement and funds. Everybody comes together and it's like five layers of transactions, and it's a much more onerous process. There has to be a purpose-built tech stack and you cannot use a cash tech stack to do CPF. That's why even the biggest banks still can’t do this. That's the biggest problem with financial service and incumbent companies. If it is not easy money, they're not willing to make an investment. Q: Let’s move on to fees, which is your other unique selling point. Is this going to be your mantra going forward? If someone copies Endowus and offer lower fees, will you match the fees? Rhee: No, we have to run a business and we are here to build a lasting business. (Sorry, we tried to ask. ;) ) We're already the cheapest. There's a reason why we place the cost there because we think that is a lasting lowest cost price. The reason why others are not matching is because they don't think they can get there, or they want to make more money. We're at that threshold where we're not just about making money. There is a purpose driven mission here that we are trying to solve. A Promise Made We are willing to price it at a level that we think makes most sense and won’t be affected by others. It's our own cost structure versus our own long-term plan. If we execute on that long term plan, we will turn profitable at this level. What we promise is that if it makes sense for us and clients, when we have more scale and become more cost efficient, we can lower costs. (There's hope!) Fund Fads We don't want to be the people who may do well for a short while and then disappear. And this happens in the fund management industry all the time. Funds live and die through cycles, like fads, and when they disappear, fund managers get rid of it, launch a new fund, and move on. Q: Who designs the portfolios on your platform? Rhee: We're not actively tactically asset allocating. We don't have an algorithm that keeps churning the portfolio to try to get better returns and beat the market – and eventually fail as statistically most active manager underperforms. Some robos have launched with a fund strategy and then due to poor performance, they pulled the fund and no longer offer it. We have a very different philosophy and what we're doing is trying to bring passive, broad-based strategic asset allocation to the portfolio. All the portfolios are designed by me, the Chief Investment Officer, and the team in the Endowus Investment Office. We use algorithms to optimize and re-balance the portfolio optimally. We use algorithms to do transactions and all the online things but it's not to beat the market, it's to make it efficient and enhance outcomes, and lower cost. Q: Under what circumstances will Endowus re-balance the portfolio? Rhee: When the portfolio diverges away from the strategic asset allocation by more than 10%, or whatever the optimal threshold is. The rebalancing usually happens less than one time a year. For example, in March 2020, the equity market fell first. If you were in a 60-40 portfolio, 60% equity and 40% bonds, your bonds held up relatively well and equities fell, we would have re-balanced by selling your bond and buying your equity, back to the target allocation. Then what happened was equity kept falling and bonds fell just as much in that second leg. At that time the weight wouldn't have shifted. After that, equity rebounded massively and bonds rebounded a little, so that re-balancing algorithm worked beautifully, because you would have made that shift, and you would have benefited from that. This interview has been edited for length. Immortalize X Endowus Collab Sign up for an Endowus account here and get $20 off your access fees! Back to Part 1: Secret To Investing Like Sovereign Funds - Don't Pay High Fees > All articles and resources > 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! Speak to our team now and let us give you a quick summary of what you need to know to help kick start your elderhood planning journey! 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 .

Starting Nov. 14, 2022, individuals will need to make their Lasting Power of Attorney (LPA) , a legal document that gives people powers to make decisions for you if you lose mental capacity, online through the Office of Public Guardian Online (OPGO) portal . The new system uses Singpass to log in and sign off, which means the convenience of having personal details prefilled for you and your donees (the people whom you are giving powers to make decisions for you). You can view the LPA online anytime and share your LPA with people you trust. If you lose your mental capacity, your donees can also share your LPA with third party agencies to facilitate transactions on your behalf. The downside of the new system? Your donees need to have Singpass. Without it, it's back to hard copy applications, which may be accepted under exceptional circumstances and subjected to the Public Guardian's approval. Key thing to note: While the application process has been made easier, the certification process - where a certificate issuer (CI) ensures that you have mental capacity, understands the powers that you are giving and not undue influence - can vary. Some CIs require donees to be present during signing while others don't, according to Immortalize database. Click here for a list of CIs on Immortalize Marketplace who can certify your LPA. You can check out their procedures, pricing, and book an appointment with them immediately. Need a suggestion? Speak to us now. Chat with us now here , email us at j@immortalize.io , or leave your contact details here and we will reach out to you. Want to get your elderhood-related documents such as Will , Advance Medical Directive (AMD) , and Advance Care Plan (ACP) done? Reach out and we'll help you get all 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 .

What happens after a loved one dies? Apart from getting a death certificate and planning for a funeral, the other important thing you should do is to go through the probate or administration process and get a ‘Grant’ from the court in order to have the official right to manage your loved one’s money, property, and other assets. (Note: For Muslims, Muslim (Islamic) law will apply instead. Read How Does Muslim Inheritance Work in Singapore? for more information.) What is Probate and Administration? Probate and administration is the legal process where the executor (person appointed in a will) applies for a Grant of Probate or administrator (person appointed by the court) applies for a Grant of Letters of Administration . Both are legal documents issued by the court for the executor or administrator to have the legal power to manage and distribute the deceased’s estate . The application usually takes around 2-3 months, but depending on complexity, it may take longer. What is the Difference Between Grant of Probate & Grant of Letters of Administration? When you have a will, your appointed person (the executor) will apply for a Grant of Probate. Without a will, if the will can’t be found or if there is no executor because, for example: No executor is appointed in the will Executors appointed are incapable of carrying out instructions in the will Executor doesn’t want to be an executor Executors are dead The court will choose one or more person(s) (called administrator(s)) most suitable to manage the deceased’s assets, and Letters of Administration will be granted instead. You can apply for a Grant of Letters of Administration if you are: A beneficiary (person entitled to a share of the estate) At least 21 years old Have a sound mind (doesn’t lack mental capacity ) What if No Next-Of-Kin Applies for the Grant of Letters of Administration? When no next-of-kin applies, the Court may appoint whomever they think is suitable, which may include a creditor of the deceased. What are the Duties of the Executor & Administrator? The duties of an executor or administrator is to apply for the grant, clear the deceased’s debts and distribute the assets either according to the will, or in the absence of a will, based on the intestacy law. Related articles: How to Write A Will (Singapore Edition) , What Happens To My Stuff When I Die? (Singapore Edition) As an executor or administrator, you may want to consider opening a separate bank account to manage the monies of the deceased estates to avoid mixing your money with the deceased’s money. It helps you keep proper records so that when the beneficiaries ask for a detailed accounting (which they are allowed to), there won’t be unnecessary disputes. Disputes can result in law suits, which will cost you time, money and emotional stress. How Many Executors Can You Appoint in Your Will? Usually, a maximum of 4 executors are appointed. Note: Section 6(1) of the Probate and Administration Act says "Probate or letters of administration shall not be granted to more than 4 persons in respect of the same property." The probate process is tedious. Having more executors means more help and keeping each other in check, but that also means potential for more disagreements because usually, they all have to agree before matters can proceed. Generally, it's ideal to have 1-2 main executors with the potential for substitute executors in case the main executors can't fulfill their duties for any reason. How to Get a Grant of Probate or Letters of Administration? Before starting the process, you might want to first consider the following: 1. Is there a need to get a grant? Some assets such as Central Provident Fund (“CPF”) monies, insurance with nominations, jointly owned properties (eg. joint tenancy flats, joint bank accounts, etc.) do not need a Grant to be distributed. 2. What is the value of the deceased asset? Less than $50,000 You can consider applying to the Public Trustee to administer the estate. If the Public Trustee agrees to administer the estate, a Grant is not needed, and thus, you don’t have to go through administration. Please note that there are a list of circumstances where the Public Trustee cannot help administer the estate. Check here for more information. $5 million and below You will file to the Family Justice Court. *Note: If the estate value is above SG$3 million , higher filing fees will apply. Above $5 million You will file to the Family Division of the High Court. 3. Is it better to engage a lawyer? People often underestimate the difficulties of applying for a Grant of Probate or Letters of Administration. Lawyers specializing in wills and probate can advise you on the dos and don’ts to avoid disputes, help you when problem arises, and potentially reduce extra costs arising from mistakes. Based on Immortalize 's data, the cost to hire a lawyer to get a Grant starts from ~SG$1,500. The actual cost will depend on factors such as the size of the estate and how complicated is the estate and probate/administration process. Tip: Compare pricing and find the lawyer best suited for your probate and administration needs at Immortalize Marketplace . If you do decide to do it yourself, the Family Justice Court (“FJC”) has a comprehensive probate toolkit to guide you through the process. Note that the toolkit is only suitable for straightforward cases where, for example, the deceased was domiciled in Singapore or the value of the estate is less than $5 million. Here’s an overview! Bon Voyage! Overview of Grant of Probate/Letters of Administration Application Process Step 1: Prepare documents and forms for submission Below are some of the requirements. For a full list, please refer to the FJC website . Service Bureau Form for application for Probate/Letters of Administration (get the form here ). Schedule of Assets - a list of all assets and liabilities of the deceased. Assets can include bank accounts, properties, shares in companies, foreign assets, and etc. All taxes, debts, bills and other expenses such as funeral costs must be paid before you can distribute the balance of the deceased’s estate. Certified copy of death certificate(s) Death certificate of the deceased. You may also need the death certificates of executors or next-of-kin who have passed away. Certified copy of the will (if there is one) Renunciation of executors or beneficiaries (if there is any) Summary report of caveat and probate application search This is to make sure no one else is preventing you from getting a grant of probate or letters of administration by lodging a caveat against the deceased’s estate or having any pending application relating to the deceased’s estate. Step 2: Filing of Application Application must be filed within 6 months from the deceased’s death. After 6 months , you have to explain the reason for delay. Applications for Grant of Probate/Letters of Administration have to be filed through the LawNet & CrimsonLogic Service Bureau . What Happens After Filing? If the Court rejects the documents due to errors in application, you have to correct the errors and re-file documents. If all is good, the Court will assign a probate number to the application and fix a hearing date. Step 3: Prepare and File Supporting Affidavit and Administration Oath Supporting Affidavit and Administration Oath needs to be filed within 14 days after the initial application is accepted. In short, this is to confirm that all the documents you submitted are declared true and correct, and that you will administer the deceased’s estate dutifully. Step 4: Extracting the Grant of Probate/Letters of Administration You may file a request to extract the Grant after the Court has accepted your Supporting Affidavit and Administration Oath Conduct a final caveat and probate application search Grants are issued electronically but you may request to get a physical grant issued with a court seal. After you received the Grant, you can now take it to relevant financial institutions (eg. banks, insurance companies) and other institutions (eg. the Housing & Development Board ("HDB")) to release and distribute the deceased’s assets. Having a will can potentially shorten the probate process as getting a Grant of Probate is generally faster, easier and cheaper than getting a Grant of Letters of Administration. As the saying goes ‘Good beginning is half the battle won’. Find a professional at Immortalize Marketplace to help you with your estate plan or get a Grant now. Read more: What Happens To My Stuff When I Die? (Singapore Edition) How to Choose Beneficiary, Executor in My Will? Guide To Making a Will - Singapore Edition The Ultimate Guide to Online Wills (Singapore) Online will vs Lawyer vs Will Writing Company - Which to Choose? Need help on probate matters? All articles and resources  > 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! 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 .

Someone will inherit it. But the question is, who? After you die, your family or next-of-kin will go through a legal process called probate and administration to get a grant from the court that gives them official rights to manage your stuff and distribute your possessions. If you have a will , your executor (the person you appointed to distribute your assets) will need to go to court to get a grant of probate before distributing your assets according to your will. If you don’t have a will, your next-of-kin will first need to be appointed as an administrator (the person the court approves to distribute your assets), get a grant of letters of administration , and your assets will be given out based on intestacy law . (Note: This article is intended for non-Muslims. For Muslims, check out How Does Muslim Inheritance Work in Singapore? ) What Happens If I Die Without a Will? If you die without a will, that means you have died intestate . Your assets will be given out according to the default distribution set out by the Intestate Succession Act , also known as Singapore's intestacy law. Below is a chart of who gets what under Singapore’s intestacy law: Below is the same representation but in table form of who gets what under Singapore’s intestacy law: Why Do I Need a Will? If the law has already planned it out for me, why do I still need a will? You can deviate from the default distribution using a will. Even if your ideal distribution is the same as the intestacy law, the probate and administration process is generally faster, cheaper and easier for your next-of-kin with a will than without a will. Related article: Probate and Administration (Singapore Edition) Let’s take a look at the advantages of having a will: A prolonged probate or administration process can take a toll on your family. Whether you have a will or not, your family will generally have to go through the probate or administration process. If everything you own is less than SG$50,000 in value, your family can potentially apply to the Public Trustee’s Office to handle the estate without going through probate. Write a will now. Read more: How to Choose Beneficiary, Executor in My Will? Guide To Making a Will - Singapore Edition How To Find The Right Lawyer For My Will? Online will vs Lawyer vs Will Writing Company - Which to Choose? All About Probate & Administration (Singapore Edition) Can't decide if you should write a will? All articles and resources  > 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! 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 .

We have been looking far and wide for a video on "What happens to a dead body?" that is not morbid and boring and recently, our prayers have been answered! This WIRED video about a funeral director/mortician, Victor M. Sweeney , answering dead body questions from twitter is hilarious and educational! All articles and resources  > 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! 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

What is a Lasting Power of Attorney ("LPA")? LPA is a legal document that allows you (“donor”) to appoint one or more persons (“donee(s)”) to make decisions and act on your behalf if you lose mental capacity (ie, cannot make decisions for yourself) one day. Requirements for LPA and its equivalent differ across countries. In Singapore, there are two type of LPA forms - LPA Form 1 and LPA Form 2. What is the difference between LPA Form 1 and LPA Form 2? LPA Form 1 applications have to be made via an online portal . It contains mostly checkboxes that donors can use to grant donees general powers with the option to select some restrictions. Donors can appoint up to 2 donees and 1 replacement donee. Donees are given powers to manage your "Personal Welfare" and "Property and Affairs". What is Personal Welfare? Examples: Daily routine (eg. washing, dressing, and eating) Healthcare and medical treatment decisions Where to live Who the donor may have contact with What is Property and Affairs? Examples: Money (eg. bank accounts, bill payments, collect pensions/benefits) Property LPA Form 2 contains mostly free text spaces and is for donors who wish to grant donees customized powers and/or appoint more donees. LPA Form 2 must be drafted by a lawyer. Speak to us here for a recommendation of a lawyer most suitable for you to help you with your LPA form 2. The majority of people use LPA Form 1. Apply online here or join our webinar here to learn more about the things to consider before doing your LPA. Why should I make an LPA? Contrary to popular beliefs, your family isn't automatically given the right to make legal decisions for you when you lose mental capacity. Without an LPA, your family has to go through the process of applying for deputyship (ie, getting court's approval to appoint a person to make decisions for you after you have lost mental capacity). The deputyship application process can take over 3 months, and is much more expensive than doing an LPA. This excruciating process could take a toll on your family when they cannot access your bank accounts to pay for bills or make decisions for you. *Note: Don’t confuse an LPA with a Will. A Will can only be processed after a person dies. Find out how to write a will here . How to make an LPA? Anyone who is at least 21 years old can make their LPA online. The Ministry of Social and Family Development (MSF) provides an overview of how to make an LPA , and here are some key points: 1. Choose your donee(s) wisely and decide what powers to grant them. They should be At least 21 years old People whom you trust will take your best interests into consideration when making decisions for you If you decide to have more than one donee, you have to decide if they will act “jointly” or “jointly & severally”. Jointly - Donees have to make decisions together. If one of the donees is unable to act (eg. has passed away), the remaining donee cannot act alone, thus no one can can make decisions for you for that particular matter. Jointly & severally - Donees can make decisions individually or together. One donee can act without consulting the other donee, and if one donee is unable to act, the remaining donee can still make decisions for you alone. 2. Fill in your LPA application online Use your Singpass to login to the online portal and fill in your donee(s)’ details including what powers you are granting them. 3. Your donees to accept your appointment Once you have submitted your LPA application, your donee(s) will receive a notification to login using their Singpass to confirm their details and accept their appointment as your LPA donee. 4. Get your LPA certified by a Certificate Issuer (CI) Bring your mobile phone with the Singpass app installed and the digital signing enabled, and visit a CI to have your LPA certified. A CI is either an accredited medical practitioner, practicing lawyer or registered psychiatrist. (Compare pricing and book a provider to certify your LPA here ) The issuer will ensure that you are not forced or deceived into making an LPA, and understand the purpose and the powers given; and sign your LPA form as a witness Lawyers who do wills often have Will & LPA packages that can help clients do both documents correctly. (Find a lawyer who does both Will and LPA through Immortalize Marketplace now) 5. Your LPA is registered Your CI will submit your LPA for registration. After submission, the Office of the Public Guardian ("OPG") will assess and if there are no objections raised within a 3 weeks wait time, OPG will register your LPA. You can always login to the online portal to check the status of your application anytime. Can I share my LPA with others? The soft copy of your registered LPA can be viewed and downloaded by you and your donees through the online portal. You can also choose to send a soft copy directly to anyone, however, your donees can only send your LPA soft copy to third party organizations after they have declared that you have lost your mental capacity. Can I revoke (cancel) my LPA? If you wish to revoke your LPA form, you must complete and sign a revocation form . You are allowed to revoke your LPA at any time when you have mental capacity. You must notify every donee and the OPG of the revocation. The MSF recommends that you revoke an existing LPA only upon registration of the new LPA, so that you will always have an LPA remain in place for your benefit. What can revoke my LPA? Your LPA will be revoked or cancelled or your appointed donee will be terminated when: You or your donee dies Your donee loses mental capacity Your donee rejects to be a donee officially (your donee can disclaim their donee appointment here ) Your donee is your spouse and you divorce your donee You or your donee becomes a bankrupt Your donee is a licensed trust company that is liquidated, dissolved, wound up or under judicial management (Note: this only applies to the property & affairs donee) Your LPA or your donee’s powers are cancelled by a Court order (eg. When your donee does not act in your best interest.) Do note that if more than one donee is appointed to act jointly and one of the donees' power is cancelled, the LPA will also be cancelled . However, if a replacement donee is appointed or there are one or more surviving donees that can act jointly and severally on any matter, then the LPA would still remain valid. Can I get a hardcopy of my LPA? If you would like to have a hard copy for safekeeping, you can submit an application to request for a certified true copy of your LPA via the online portal at a cost of SG$25 per copy. However, you can easily find and view the soft copy of your registered LPA anytime and at no cost by logging onto your account through the online portal. Can I submit my LPA online? Yes, all LPA applications have to be made via an online portal from Nov. 14, 2022. Under certain exception situations , you may submit a hardcopy of your LPA application. However, whether the application will be accepted is subjected to the Public Guardian’s approval.​ All articles and resources  > 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. Let Immortalize help you get your LPA, Will, and other elderhood planning related matters sorted easily. FAQs Who can I appoint as an LPA donee? People usually appoint their family or friends as LPA donee(s), but if family or friends are not an optimal choice for you or you don't have any trusted person you can rely on to make decisions for you, you can choose to appoint professional donee(s) in your LPA to act on your behalf if you lose mental capacity one day. (Check out professional donees, the services they can render and their prices here .) What happens if I lose mental capacity and do not have an LPA? Your family or someone has to apply for deputyship , so they can be appointed as deputy and make decisions for you. The deputyship application process can take over 3 months, and is also more expensive than doing an LPA. This process is excruciating and could take a toll on your family when they cannot access your bank accounts to pay for bills or make decisions for you. How is my LPA activated? To be able to activate your LPA, your donee will need to first obtain a medical report from a registered medical practitioner and/or other supporting documents to prove that you have lost mental capacity. Then your donee can log onto the online portal and send the soft copy of your LPA to third party organizations and make decisions for you. Should you regain your mental capacity, you will be able to manage your own affairs again. Your registered LPA will still be valid. Can I submit a hardcopy of my LPA application? You may submit a hardcopy of your LPA application only under certain exception situations . However, whether the application will be accepted is subjected to the Public Guardian’s approval.​ 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

What is a Will? A Will is a legal document that specifies how you want your estate (assets such as money or property) to be distributed after you die. A Will can be written by anyone, not just lawyers. See Related: Guide on how to find the right Will provider for you What happens if you die without a Will? Without a Will or if your Will is not valid, your estate will be distributed based on intestacy rules (rules if you die without a Will). Intestacy rules may vary in different countries. For Singapore, your estate will be distributed under the Intestate Succession Act . (See Related: Guide on Intestacy Laws in Different Countries (Coming Soon!)) Why don't people write a Will? Here are the common reasons: “Too difficult”, “Too pricey”, “Too troublesome”, “I don’t have a lot of money or assets”, “I’m not going to die soon”, “I don’t have time now. I’ll do it next time” When do people write a Will? Here are some common reasons: When they buy a house - Because they think they now have a significant asset When they have kids - Because they need to appoint a guardian or plan for if both partners are not around When they are very sick When they grow old When they do some dangerous or life-risking activities Why you should write a Will? Because you want your estate to be distributed the way you want it to be Because you are considerate for your loved ones and want to avoid them having to go through the long, arduous and more expensive process to distribute estates without a Will Because you want you and your loved ones to have a peace of mind Because it helps you figure out what’s most important in life Filter, compare and book a Will-making provider on Immortalize Marketplace How to write a Will? Except for the following, there’s no restriction on how to write a Will. “ You can even write it on a tissue paper ” and that would be valid. But of course, you shouldn’t. In Singapore, these are the requirements for a valid Will : It must be in writing Testator (the person who is writing the Will) must be at least 21 years old Testator must sign at foot of the Will in front of at least 2 witnesses The witnesses cannot be beneficiaries (people who will benefit from the Will) or spouses of the beneficiaries Additionally, the testator must be of sound mind (have mental capacity ) and not under undue influence (made the decisions voluntarily) at the time the Will was written and signed. *Note: If a person has lost mental capacity and a Will is wished to be made, an application of a Statutory Will may be necessary. See Related: Immortalize Guide - How Much to Draft a Will? How to Choose a Will Provider? Before you start writing your Will, here are some essential questions you should ask yourself: Do you have assets in other countries? You might need to consider an International Will that cover all your assets or a Will for each country that you have assets in. Related article: Comments on need for Concurrent Wills Do you have any children under the age of 21? If yes, you will need to decide who will be their guardian and how best to protect their interests. Need help on this? Find the right lawyer via Immortalize Marketplace ) Do you want to make any specific gifts? Lawyers would often tell you to keep things general and avoid making too many specific gifts. Disputes may arise from being unable to give out these gifts (perhaps because they don't exist or don't belong to you anymore) after your passing. Do you have any properties? Property and its distribution among beneficiaries have always been a big part of family disputes. See Related: Deep dive into property and estate planning Feeling overwhelmed with the list? Time to seek help. We have written a Guide to help you figure out whether you should use an online Will or find professional help. How much does it cost to make a Will? Online Will - From $0 to ~$100+ Lawyer - ~$400 for a lawyer specializing in Wills & Estates but range can be from $99 to $5000. (See Guide on how to find the right lawyer) Non-legal Will writing companies - Somewhere between online Will and lawyers although we have seen some that charges more than lawyers. For more information , check out our Guide or start comparing on our Marketplace What can’t you give away in your Will? Central Provident Fund (CPF) You can decide where your CPF savings will go by filling in a CPF nomination form separately. Without this form, your savings will be distributed according to the Intestate Succession Act. Make and Submit your CPF Nomination form online . Joint Assets eg. Joint bank accounts, properties co-owned via joint tenancy arrangements Why do you need to update or change your Will? You should constantly review and update your Will to keep it in line with how you want your assets distributed. Examples of major life events that may require you to update or change your Will includes: Changes in relationships: Increase in family size (birth of a child/grandchild) Divorce and remarriage If you made a Will before your marriage, your Will will automatically be revoked upon marriage. However, your Will will NOT be revoked upon divorce. Changes in assets: Purchase or sale of property Starting a new business Others: Change of religion Incapacity/death of beneficiary, executor, or guardian Changes in the law Change in your domicile (place where your permanent home is) What to do if you want to update/change your Will? There are two ways: You can opt for a codicil , which is an additional document that attaches to your Will. The main risk of this way is that the attachment might get lost, which could lead to serious problems. You can shred your old Will and make a new Will - Make sure you update your executors where this new Will is stored. What to do after you've written your Will? Your Will is an important document and should be stored in a safe place. Regardless of where you put it, make sure your executor and/or family knows where the Will is. Here are some ways to store your Will: In your own safety deposit box In the Wills registry . Note that the Wills registry don't keep actual Wills. Only details of the person making the Will, date of the Will, details of the person who drew up the Will and details of where the Will is stored. It costs SG$50 to deposit a Will record and SG$10 to search for a Will record. Note: There is a "beta" (ie, test) version of a new Singapore government initiative, My Legacy, that allows citizens and permanent residents to input will information (eg. where the will is stored and when it's made) online. In a financial institution's safety deposit box Use a Will custody service Some lawyers can keep your Will in their office What are the common reasons that people use to dispute a Will? Invalid Will The Will has failed formalities when it was drafted. Has no or poor mental capacity The person did not have a sound mind and didn't understand who he/she is giving the estates to when writing the Will. Undue influence The person has written the Will under influence by others or under duress, deviating from the person's true wishes. Fraud The person have signed the Will thinking it was another document at the time. Did not provide reasonably for some dependents According to the Inheritance (Family Provision) Act , some dependent/family member can request the court for claims on an estate if the dependent believes that he/she hasn't been reasonably provided for. Read more: What Happens To My Stuff When I Die? (Singapore Edition) Guide To Making a Will - Singapore Edition How To Find The Right Lawyer For My Will? Online will vs Lawyer vs Will Writing Company - Which to Choose? Unsure which provider to choose for writing your will? All articles and resources  > 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! 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

The issue with nominating your kids or spouse as beneficiaries of your CPF money and have them inherit a large sum immediately after your passing is that the money may dissipate in the hands of the young person, or get mismanaged in the case of a vulnerable elderly, according to Chiwi Lee, Chief Executive Officer at estate and succession planning firm PreceptsGroup International. We spoke to Lee at a pre-event for the CPF & Your Retirement Forum , about potential solutions to overcome the issues with untimely inheritance. Name: Chiwi Lee Company: PreceptsGroup International Estate Planning Specialization: Trust Base Country: Singapore Anything Interesting: Watches YouTube every night to play golf better Q: Can you tell me more about yourself? How did Precepts come about? Lee: I graduated from law school and at the later part of my legal career, I was handling wealthier clients. I was looking at the area of succession planning and had the opportunity to do full time in the wealth management and trust sector. It was a mid-life career switch after 16 years in the legal industry. Rockwills Management Buyout Precepts was originally Rockwills Singapore. RockWills is a household brand in estate planning in Malaysia and in 2019, we did a management buyout. We rebranded and came up with the name Precepts, which stands for principles or guidelines for families. It is to manifest how we deal with clients and staff. Q: What’s the road map for Precepts going forward? Lee: We want to innovate in areas where technology can come in. An example will be our newly launched product called ProviTrust, which is a digital trust for CPF money and caters for the mass market. But when it comes to the kind of typical business that we operate in, most parts will still require the traditional kind of attention where the client needs to spend time and go through the various facets of their family objectives, the kind of assets they own, and it can be very varied. Artificial intelligence is not going to take over some of these aspects. If a person is going to leave behind wealth sources from various channels, from property to financial assets and across different countries, it requires bespoke planning. Q: Can you tell me more about ProviTrust? Why do you need a trust for CPF? Lee: CPF is a class of asset that many Singaporeans have and would be leaving money that could range from $150,000 to half a million dollars. More people are voluntarily putting in more money into their CPF account because of the returns that they could get. If you are looking at getting the maximum payout from CPF Life (a national longevity insurance annuity scheme), then the kind of retirement funds that you need to have is probably in the range of $250,000 to $300,000. Eventually the money will need to be passed on to somebody. Currently, CPF nomination is a simple mechanism where you nominate someone as a recipient and if you pass away, the nominee takes the money. This is where the issue lies. Minor, Elderly Nominee You might be leaving a substantial amount of money to a beneficiary who is very young. Can you imagine someone below 18-year-old receiving $200,000 overnight? That's a lot of money. Some people may name their spouse as the beneficiary and by the time the spouse receives the money, he/she could be an elderly person receiving $200,000 to $300,000 and this could cause a lot of problems. They could be vulnerable, they could be subject to undue influence and they could be cheated when someone knows about the situation and realizes that this elderly person has just received $300,000. Trusted Trustee In these situations, it makes sense for someone who can be trusted to be appointed the trustee and hold the money to ensure that the money will not dissipate in the hands of the young person, or potentially leak out in the case of a vulnerable elderly. There was a situation where the recipient who got the money happened to be an undischarged bankrupt. In the end, the recipient never benefited from the money and it ended up in the hands of creditors. Protecting Undischarged Bankrupt In cases like this, where the beneficiary is an undischarged bankrupt, in the midst of some sort of creditor claim or in the middle of a divorce, it makes sense for the trustee to withhold all the money, and only distribute the money at a later time when the adverse situation has passed. This is where ProviTrust will be appropriate. For people who just want to set up a practical and simple trust, where that $200,000 or $300,000 in their CPF account would be passed on to a trustee to be distributed in a certain manner after they pass on. Q: Why is nominating minor for CPF an issue? Isn’t it the guardian who will take charge of the minor’s money? Why use ProviTrust to nominate a trustee instead of just giving the money to the minors and have the guardian take charge of the spending? Lee: If you talk about minors and guardians, that is in the context of the estate , which is distinctive from CPF money. The fundamental difference is that CPF monies cannot be willed away and you have to do a CPF nomination. Related Articles: What Happens To My Stuff When I Die? (Singapore Edition) Guide To Making a Will - Singapore Edition How to Choose Beneficiary, Executor in My Will? If the minor is below 18, the minor cannot receive the CPF money. The Public Trustee will take the money and send it over to the nominee when he/she turns 18 years old. Before the nominee turns 18 years old, the money is held with the Public Trustee. Read More: Monies held-in-trust for minors With ProviTrust, the trust can receive the money and the trustee can distribute the money out to the minor or the guardian in the manner that you state. Q: How is ProviTrust different from the regular kind of trust and why did you come up with ProviTrust? Lee: What you are referring to is living trust. In a living trust , you can collate all the various channels of money sources, for example, CPF, insurance, properties and others into one trust. The assets may be transferred or are ear-marked to the trust when you are alive. Cost of Living Trust Generally, when you set up a living trust, you appoint a professional trustee to be the trustee of the fund. It’s going to cost several thousands of dollars to set up and draft the trust deed , and then there's a yearly administrative fee to manage the trust. The administrative fee could be anything from 0.5% to 1% or even 2% of the asset under management, depending on the service provider. Downside of Testamentary Trust An alternative to living trust is to embed a testamentary trust as part of the will . The trust only kicks in after you pass away and the trustee holds on to the money and only gives the money to the beneficiary at a later point in time. But you can’t appoint the testamentary trust as the nominee for CPF money because it only exists after you pass away and you need to appoint a nominee while you are still alive. Larger CPF Monies Over the years, the issue of CPF money seems to be more prevailing. In the old days, when we did wills and testamentary trusts or set up living trusts for clients, when it came to CPF monies, we had to tell the client to do a CPF nomination. But today, CPF is becoming more of an issue because people are leaving behind more money in their accounts. What is Standby Trust? Then, we introduced a trust solution called standby trust, which essentially is a vehicle where the money from the estate, insurance policy payouts, and CPF nomination could go into. The essence of a standby trust is that there is very little money in it. With us, you only put in $1,000, so there isn't very much for a trustee to do while the trust lies dormant. Because the vehicle exists, you could nominate this trust to receive the CPF nomination. Insurance policies that a client owns could also be assigned to a standby trust, but you cannot do that for testamentary trust. Birth of Digital Trust Standby trust is what birthed the idea of ProviTrust, where we explored a digital solution where people could seamlessly set up their own digital trust. We also asked ourselves if appointing professional remunerated trustee of $200,000 or $300,000 made sense. That may not be feasible if we were to charge our usual fees and that was what birthed the idea that we should facilitate people who simply wanted to appoint other individual persons, such as a trusted relative or friend, to be the trustee of their CPF money which will for many be of modest sums. Digital vs Non-Digital Trusts By doing it digitally and allowing people to appoint others as trustees, we bring the cost down to about $600. Obviously, it's quite different from having to come to our office to meet with us and spend an hour to go through the nuts and bolts of what a trust is, and to explain and talk about the pros and cons of setting up a trust. When we use this digital trust solution, all the information is available online. There are plenty of FAQs for people to understand and create a simple trust document. It is a simple document that is around one to two pages to deal with a single asset class, CPF money. Q: Is it like an online will where I basically put a person’s name and how I want to distribute my CPF money and then it generates a document? Lee: Yes. When you make an online will , which is filling in a template, you name beneficiaries and etc and a will is generated. Read more: The Ultimate Guide to Online Wills (Singapore) In the context of what we are doing, the ProviTrust digital trust is also simplified as much as possible. The trustee’s powers are all specified. We have made it in a way where you can state the percentages, how the beneficiary will receive the money, whether they will get it monthly, quarterly, or yearly and etc. It can be easily set up in about 30 minutes. Q: Anything interesting about you? What do you do on weekends? Any special talents? Lee: I'm an avid golfer. I practically watch YouTube every night on how to play golf better! I also enjoy music and play instruments including keyboard, guitar and violin. This interview has been edited for length. Wondering if setting up a trust is the right choice for you? Back to profile interviews >   All articles and resources  > 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

The increase significance of cryptocurrencies as an asset for people, and families becoming more fragmented as divorces become more prevalent means that estate distribution will become more complicated without a will or estate planning, according to Nandakumar Renganathan, deputy head of RHTLaw Asia’s litigation and dispute resolution practice. We spoke to Renganathan to discuss about legacy planning, including issues faced by gay couples. Name: Nandakumar Renganathan Company: RHTLaw Asia LLP Estate Planning Specialization: Structuring and dispute resolution Base Country: Singapore Service Style: Listener, Practical Anything Interesting: Adventure crime book lover Q: You are an equity partner at RHTLaw, how did it happen? Renganathan: I was at another law firm at that time. There was a split in the firm and half of the lawyers decided to leave and set up RHTLaw. This is probably the first time in Singapore’s history where a major law firm splits in half. It was not easy. The Startup Journey We started the law firm with 40 lawyers, and we were going into new premises that we needed to take up. We had obligations to the staff that we brought along, and it was hard because we were starting from scratch. We didn’t have infrastructure. All we had was our laptops and handphones and we worked off hotspot because we didn’t have internet connection. We were working with nothing but client loyalty and self-confidence. We were fortunate that business started coming in and we were able to sustain it and we grew from there. We just celebrated our 10th anniversary this year. Q: What’s a typical client for you? Renganathan: A lot of people that come to us tend to be in their 60s wanting to do some form of wealth planning for the next generation. But increasingly, we are also seeing people that are younger who are becoming more aware and putting more emphasis into balancing their wealth, especially if they are a high net worth individual. Their assets could be in the form of property, not just in Singapore but also in different jurisdictions. We’re also seeing cryptocurrencies forming part of the assets. The biggest part of what I do is in relation to structuring of assets and advising in relation to assets where there is likely potential dispute. The solution could be wills , agreements in relation to those assets, for example, deed of family arrangement , or others. Q: Are there any trends that are spurring people to do their estate planning? Renganathan: One of the trends that we see are families becoming more fragmented. In the early days, you have larger families of about seven or eight children. Some of the children are born to the family and others are adopted, sometimes informally. When you have passing of a parent, the question will arise as to whether the informally adopted children are entitled to part of the estate in the absence of a will. Prevalence of Divorces Over time, we found that families are becoming smaller and it became easier to identify the relationships. But in the last 15 years or so, divorces became more prevalent. You have people getting remarried again and the children with their new spouse or pre-existing children from their new spouse will become part of the family. If there is no will made, how the monies of deceased parents are going to be distributed will become more complex. Q: How often is property an issue in terms of dispute cases that you do? Renganathan: Property is a big part of disputes especially when the value of property and investments in property have gone up. But even in a declining market where disputes are fewer, you will still have issues and often in relation to contributions that have been made by people who bought the property. Gay Couples Think about it this way. When you are a married couple, you are probably not going to be talking about who owns what. Take a gay couple for example, gay couples function like any other couples. They buy property together but may not have an agreement between themselves on who owns what. Reality is, when people are in love, they make a lot of decisions which are emotional and not in their best interests. When the relationship breaks down, that’s when things go wrong. This applies not just to couples, but also to parents and their children. The question here is whether the shares of the property are properly defined and whose name is in the property? If there’s a dispute and you need lawyers to come in, then we have to try to establish the relationships, see if there’s a resulting trust that is formed in the relationship etc. What is recorded may not necessarily be what it is. Q: You mentioned gay couples which is very interesting. Singapore doesn’t recognize gay marriages so what happens when a gay partner dies? Renganathan: This is where there is a difference. Intestacy laws do not make provision for gay couples. Unless there is a will protecting the surviving partner or there’s an agreement in relation to the asset or property investment, the surviving partner will not be protected. We usually recommend an agreement so that both partners will be in a better position in the event of a breakup. I know a lot of them don’t think it through, just like married couples don’t think it through either. But at least for a married couple, you have intestacy law to protect the surviving spouse in the event that the partner passes away without a will, but it’s not there for those who are not in the traditional definition of marriage. Q: What if I get married in Taiwan or other jurisdictions that recognizes gay marriages？ Renganathan: It becomes a bit more complex because issues of domicile will kick in as far as intestacy is concerned. The question that arises is if it’s better to get the l etters of administration where the marriage is recognized. Plan As A Family There are complexities that come from family relationships that people don't realize. Even when we do Lasting Power of Attorney (LPA) for our clients, we usually tell them, “Why don't you get the whole family involved?”. This is usually so that a common understanding can be arrived at between the key members of the family which hopefully minimizes the possibility of disputes in the future. Related Articles: Demystifying Lasting Power of Attorney (Singapore) Q: Why? Are there more benefits of doing it as a family versus individually? Renganathan: Because you need to appoint donees and the children, if they are over the age of 21, will have to think about how they want their parents to be taken care of if they lose mental capacity. Getting older or having the potential to become senile aren’t the only reasons that cause people to lose their mental capacity. I've had cases where people were riding their bike in East Coast Park and ended up in a coma. Scenarios such as getting involved in some accidents and developing illnesses such as cancer can cause you to lose mental capacity at an early stage in life. Closer Family Ties When you do the planning as a family, it becomes more transparent and creates a greater deal of openness between the family members. I’ve seen families coming together, sitting down to do it and it creates a certain closeness when they know that they are responsible for each other as they nominate each other to look after them if they lose mental capacity. In many ways, doing the LPA together contributes to family bonding and makes family relationships stronger. Q: When it comes to your client group, what are the common issues or dispute when it comes to property? Renganathan: The more common issue would be whether someone has some indirect contributions made towards the purchase of the property. You have cases where sometimes not all contributions are captured and documented. When an estate distribution is going to be made, they would want these indirect contributions to be priced in. The beneficiary will say, “Hey, hang on a bit, not the entire property belongs to the deceased, some part of it actually belongs to me.” Property Inheritance & Disputes There are also issues on how and when to sell the property. If the market is down, people may not want to sell the property because they can get better value if the property market goes up. But because nobody can time the market, it's hard to say when it should be sold. On the other hand, you may have some beneficiaries that may want immediate realization for their own family circumstances. Something that’s becoming more prevalent is properties being owned by more than two people, either because they inherit it or they went to buy the property together. When that happens, the issues of getting everyone to agree on something becomes more pronounced and you may have to compel the other parties to sell or agree to hold. Read more: Property & Inheritance Selling 1/4 of a Property Just think about it from this perspective, if you own a quarter of a condominium, while you can sell a quarter of a condominium, is it easy to sell? You will likely have to sell the whole unit in order for you to be able to realize the benefit from that. Q: Any issues that you think people should be aware of going forward when it comes to estate planning? Renganathan: With cryptocurrencies kicking in right now, the dynamics have changed quite significantly. When you have a crypto wallet and you do not have your password, no one can get into that wallet. Inheritance of Cryptocurrencies You have to rethink where this information is kept and how this information is going to be checked, whether it's going to be kept at a certain location by certain people or are there other ways to keep it. I think cryptocurrencies and how to navigate this new economy is going to kick in for a lot of estates. Succession Planning The other issue is when the deceased is a shareholder of multiple companies. I have had scenarios where families are either unaware that a deceased is a shareholder of companies or don’t know what these companies do. Are they active businesses? Do they have employees? A lot of time, the family doesn’t know what the business entails, especially if the business is run with other partners and without succession planning, it creates a lot of turmoil for the family. Q: What is your interest? What do you do on weekends? Renganathan: I usually spend my weekends reading books on adventure crimes like international espionage. If not, I will be spending time with the kids. Particularly with all these teenage suicides going on, I try to spend more time talking to them, finding out if they are stressed about anything and what they want. Earlier in my career, I spent a lot of time doing pro bono work. Helping people was why I decided to become a lawyer. When I retire, I want to spend more time doing pro bono work to keep myself engaged. This interview has been edited for length. Read more: How To Find The Right Lawyer For My Will? Guide To Making a Will - Singapore Edition Not sure if this lawyer is suitable for you? Back to profile interviews >   All articles and resources  > 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

In the U.S., if your will goes through the probate process (a legal process before one's estate can be distributed), the details of your will becomes public information. While it isn’t as exposed in Singapore, interested parties with reasons can go through a court application and your will could be “reasonably available” to them, according to Lee Shen Han, lawyer at Bonsai Law Corporation. We spoke to Shen Han to better understand the common issues around probate that you need to know. Name: Lee Shen Han Company: Bonsai Law Corporation Estate Planning Specialization: Probate and Administration Base Country: Singapore Service Style: Fast, straightforward, and personable Anything Interesting: Stockbroker turned lawyer Q: Can you tell me more about yourself? Why did you decide to go into law? Lee: I used to be a stockbroker. After doing this for a while, I decided it wasn’t something that I wanted to do for the rest of my life. I quit my job, travelled for a while, and went to the UK to study law before coming back to take the bar. After practicing for 4 years, I came out to start my own firm. Q: What are your focus areas? Lee: My key focus areas are (1) probate, administration and estate planning ; (2) divorce and family law; and (3) civil litigation. Out of these three areas, my favorite practice is in estate planning, probate and administration. It’s also where my interest lies because it’s easier to make a difference in this aspect of law. Q: What’s a typical client for you? Lee: I cater to those who are fairly in tune with technology. This is probably because I structure my workflow in such a way that my clients are aware of the requirements and processes that they have to follow from the beginning in order for the probate application to proceed smoothly. Q: One of the reasons why Immortalize reached out to you is because you are very transparent with your information and your pricing, which is very different from many other law firms. Why did you decide to take this approach? Lee: It’s good for the consumer as well as the law firm. In this day and age, everybody wants to know exactly what they are paying for and what they will be getting. With transparent pricing, consumers know exactly what they are getting, and you will be less likely to have unhappy clients. I follow this mantra as a consumer as well. When I purchase a product or service, I would like as detailed a breakdown of what I’m buying as possible. At the end of the day, I understand that all businesses need to turn a profit but the more I know about the specifics of what a business is offering me and what they are providing, the more likely I will be to engage and buy the product or service. Q: What are the common issues with probate? Lee: One of the main issues in probate are wills that are not well-drafted. Generally, the majority of these wills are homemade wills but occasionally wills done by will-writing companies or even law firms can have issues. Generally, the wills will not necessarily be invalid, but may face problems during the probate application. A common scenario is when the attestation clause has no interpretation. For example, the testator (person wanting to write the will) affixes a thumb print instead of signing but there is no mention whether the testator reads and understands English or whether the will has been explained to the testator in a language he/she understands. It’s not always the case, but if someone is signing in language other than English or affixing a thumbprint, it’s possible that this person doesn't understand English or is illiterate. This tends to show up on the Court’s radar and the Court may then request for further information from the witnesses to the will, further complicating the probate process. Read more: All About Probate & Administration (Singapore Edition) Q: Why is it that in your fixed fee to extract a grant of probate for non-Muslims, the value of the estate needs to be less than SG$3 million? Lee: If the estate is more than $3 million, the filing fees are higher. Q: Any reasons why people should still do a will even if intestacy law applies to them? Lee: It varies from individual to individual but there are many reasons to do so. If you’re a parent, you can appoint a guardian (person appointed to take care of the children if both parents die) of your choice in your will. If you want a specific person to be the executor and not somebody that falls under the priority structure of the Intestate Succession Act , you can only do this through a will. Another scenario and one that seems to be becoming increasingly popular is giving a gift to charities, which can also only be done through a will. Read more: What Happens To My Stuff When I Die? (Singapore Edition) Q: Any advice that you want to tell people if they want to get a probate so that the process would be smoother? Lee: Well, avoiding the probate process altogether would probably be the simplest way of doing things. It’s not always possible to avoid probate entirely but there are some ways in which you can attempt to do so through the use of trusts and/or joint-name assets. Q: It’s interesting that you mentioned avoiding probate. In the US, it seems that avoiding probate is a reason why people look at estate planning because once the will gets through the probate process, it becomes public. Is that the case for Singapore? Lee: It won’t exactly be public but it is possible to gain access to the contents of the will through a court application after the probate. Q: Is it available to anyone who applies? Lee: You’ll have to provide appropriate reasons to the court but it should be reasonably available to an interested party. Q: Any upcoming trends in the estate planning space? Lee: One trend I’ve noticed is the use of free online will generators. There’s nothing wrong with trying to DIY but these online will generators tend to be structured in a way that you can only do things in a certain way. Read more: The Ultimate Guide to Online Wills (Singapore) What this means is that a layperson may end up churning out a will that goes against his/her actual intentions. I’ve encountered a scenario where the will generated states, “I give my immovable property at XYZ address to my daughter absolutely” before going on to state “I give my immovable property at XYZ address to my son absolutely”. Problem With DIY Will You can’t give away the same property to more than one person absolutely but because of how some of these online platforms are structured, the will-generator doesn't allow for the will to gift the property in percentages. A layperson who’s not familiar with the law surrounding wills may then end up using the online will generator to give a property to one person, absolutely, and then accidentally give the same property to another person, absolutely. In such situations, the probate process may turn out to be more expensive because the Court may flag out these discrepancies and ask the law firm handling the probate to address these issues. Q: What’s your interest? Lee: I’m interested in writing and technology. I’m generally curious about tech startups and I have previously self-published books on app development and software-as-a-service (SaaS) business models. I’m fascinated by the intersection between technology and law, and my guess is that the unicorns of the legal industry in the future will be lawyers who are able to code and are competent in their areas of practice. Similar to how startups look for full-stack developers, law firms will start looking out for full-stack lawyers. This interview has been edited for length. Read more: How To Find The Right Lawyer For My Will? Guide To Making a Will - Singapore Edition Not sure if this lawyer is suitable for you? Back to profile interviews >   All articles and resources  > 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