Why Every Adult in Singapore Needs a Will

In Singapore, estate planning is often overlooked, with many individuals assuming that their assets will automatically be distributed according to their wishes upon their passing.

Introduction

In Singapore, estate planning is often overlooked, with many individuals assuming that their assets will automatically be distributed according to their wishes upon their passing. However, without a validly executed will, your estate will be distributed in accordance with the Intestate Succession Act (Cap. 146), which may not reflect your intended distribution. This article explores the legal and practical reasons why every adult in Singapore should have a will in place.

1. Ensuring Your Assets Are Distributed According to Your Wishes

Without a will, your assets will be distributed according to the Intestate Succession Act

A will is a legally binding document that allows you to dictate the distribution of your estate upon your demise. Without a will, your assets will be distributed according to the Intestate Succession Act, which follows a strict hierarchical order of beneficiaries. This means that your estate may not be allocated according to your intentions, especially if you have specific dependents or causes you wish to support.

For example, if you are married with children, your spouse will receive half of your estate, while the other half will be distributed equally among your children. If you wish to allocate a larger portion to your spouse or provide for non-family members (such as a lifelong partner or a charitable cause), a will is essential.

2. Appointing a Trusted Executor to Administer Your Estate

A will allows you to appoint an executor—a person you trust to manage and distribute your estate in accordance with your instructions. The executor’s responsibilities include:

• Applying for the Grant of Probate from the Family Justice Courts of Singapore

• Paying off outstanding debts and liabilities of the deceased

• Ensuring assets are distributed according to the terms of the will

  
  

Without a will, the court will appoint an administrator under the Letters of Administration process, and the appointed person may not be someone you would have chosen. This could lead to unnecessary delays and potential disputes.

Did you know? Without a will, guardianship decisions will be made by the Family Court

3. Protecting Minor Children and Dependents

For parents with minor children, a will is particularly crucial as it allows you to appoint a legal guardian in the event of your untimely passing. Without a will, guardianship decisions will be made by the Family Court, which may not align with your preferences.

A will also enables you to set up Testamentary Trusts—a legal arrangement where a trustee manages assets on behalf of minor children until they reach a certain age. This ensures that your children’s financial needs are met responsibly.

4. Avoiding Family Disputes and Legal Complications

Contentious estate disputes are not uncommon in Singapore, particularly when there is no clear legal directive on asset distribution. By drafting a will, you:

• Minimise the risk of family conflicts over inheritance

• Reduce legal costs and delays in the probate process

• Ensure that your estate is settled efficiently according to your intentions

Under the Wills Act (Cap. 352), a properly executed will reduces ambiguity and prevents potential claims under the Inheritance (Family Provision) Act, which allows dependents to contest the estate if they believe they have not been adequately provided for.

5. Addressing CPF Monies, Insurance Policies, and Joint Accounts

It is important to note that Central Provident Fund (CPF) monies are not covered under a will and require a separate CPF Nomination to be made. Similarly, life insurance policies and joint bank accounts may have separate beneficiary designations that override a will.

However, a well-drafted estate plan, including a will, trust arrangements, and nominations, ensures that all assets are accounted for and distributed according to your overall estate objectives.

6. Estate Planning for Business Owners

If you are a business owner, failing to plan your estate could result in business disruption or forced liquidation upon your passing. A will allows you to:

• Appoint a successor or sell your business interests smoothly

• Implement a Buy-Sell Agreement with co-owners to ensure continuity

• Protect your business assets from legal disputes

Business succession planning often involves additional legal instruments such as trusts, Lasting Power of Attorney (LPA), and corporate nominee structures, which should be discussed with a qualified estate planning consultant.

7. Legal Requirements for Drafting a Will in Singapore

To ensure a will is legally valid in Singapore, it must comply with the Wills Act (Cap. 352):

1. The testator (person making the will) must be at least 21 years old

2. The will must be in writing

3. The testator must sign at the foot of the will in the presence of (2) two independent witnesses

4. The two witnesses must sign in the presence of the testator

5. The witnesses cannot be beneficiaries or spouses of beneficiaries under the will

Any failure to meet these legal requirements could render the will invalid, leading to intestacy and the estate being distributed under the default intestacy rules.

Conclusion: Take Control of Your Estate Planning Today

Drafting a will is not just for the elderly or the wealthy—it is a fundamental aspect of financial and estate planning for every adult in Singapore. Whether you are single, married, a parent, or a business owner, having a legally sound will ensures that your loved ones are provided for and that your wishes are respected.

At Stamford Legacy, we provide professional will planning and estate planning services to help you secure your future with comprehensive legal solutions tailored to your needs.

📞 Contact us today to schedule a consultation. Let us help you take control of your legacy.

Contact Us for Consultation

Disclaimer

The information provided in these articles is intended for general informational purposes only and does not constitute legal, financial, or professional advice. Stamford Legacy Pte. Ltd. (“the Company”) makes no warranties or representations as to the accuracy, completeness, or suitability of the content for any particular purpose. No liability is accepted for any loss or damage arising from reliance on the information provided herein.

You are strongly advised to consult a qualified legal or estate planning professional for advice tailored to your specific situation. Use of this website and its content is entirely at your own risk.

Warning

Do not rely solely on the information provided on this site for legal or estate planning decisions. Improper or incomplete execution of estate planning documents may result in unintended legal consequences or the invalidity of those documents under Singapore law.

Copyright Notice

All content, materials, text, graphics, and articles on this website are the intellectual property of Stamford Legacy Pte. Ltd. and are protected under Singapore’s Copyright Act and other applicable laws. No part of this website may be copied, reproduced, distributed, published, or used in any form without the prior written consent of the Company.

Unauthorised use of any materials from this website may constitute a breach of intellectual property laws and may be subject to civil or criminal liability.