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Old 14-02-2017, 01:45 PM   #151
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Whats your relationship like with D ?

If D shares the same concern as you, he should get B to dispute the Probate and LOA to lengthen the time.

Ultimately D will want to toe the line with you as he's the beneficiary of B and will get nothing if B gambles all his money away.
D is my sis 😊 and aligned with me. What ground she got to disrupt the process? Even the children of A want nothing to do with their mother's will when the mother uplorry.

D only benefit is B uplorry before A. Then I will transfer B's ownership to D and wait for A to go. When A goes, my share will likely to the children of A or to D at my discretion. Amen 😊

My dilemma is that I never like my cousins 😩
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Old 14-02-2017, 01:55 PM   #152
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I believe it's 2.5 years just to transfer to your name alone. Disposal is another timeline altogether. And there are many legitimate ways to delay the sale of the flat.
But I cannot take over ownership as I am under MOP. Even if can , why would I want to hang on to half ownership by disposing my own flat. By the way, the said flat is a 2rm flat under SERs.
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Old 14-02-2017, 09:28 PM   #153
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If I'm not mistaken, step 1 is for you to take ownership, then HDB will find you ineligible to own and Step 2 will be to dispose.

I don't think it would be a case where you sell the flat directly from the "Estate of the late Mdm Xxx"

If I'm right, then there are ways to delay step 2. 2 room SERS flat also hard to sell.

But I cannot take over ownership as I am under MOP. Even if can , why would I want to hang on to half ownership by disposing my own flat. By the way, the said flat is a 2rm flat under SERs.
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Old 14-02-2017, 10:03 PM   #154
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If I'm not mistaken, step 1 is for you to take ownership, then HDB will find you ineligible to own and Step 2 will be to dispose.

I don't think it would be a case where you sell the flat directly from the "Estate of the late Mdm Xxx"

If I'm right, then there are ways to delay step 2. 2 room SERS flat also hard to sell.

Thanks to all. Ok case closed as I now have better understanding the matter and the statutes governing the matter.

Now I only need HDB's understanding, empathy and consent to allow me to hold on to the property as executor without effecting a transfer to me as beneficiary until the demise of B when it will then be sold and distributed to C and D eventually.
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Old 14-02-2017, 10:19 PM   #155
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My next issue was raised in post #25 which has no comments.

A + B have a joint alternate savings account and rights of survivorship generally applies.

A transferred part of the money in the joint alternate account to open an FD account in A's sole name with instruction that on maturity the money be credited back to the joint alternate savings account.

However, before maturity A passed away.

Will the money in FD account be considered as A's estate as it is not in joint names?

If B is the administrator and deliberately let the FD mature and flow back to the joint alternate account (assuming the bank does not know of A's demise), is the FD money still considered as A's estate? The delay is to avoid getting a letter of administration as A has no other asset that would require a probate.

From my personal experience, some banks would know of account holder's demise and would freeze the deceased's personal accounts immediately while some banks never know about account holder's demise and money/cheque (except cheque in the estate of ....) can still go into and out via ATM card or existing giro.

Last edited by henrylbh; 14-02-2017 at 10:24 PM..
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Old 14-02-2017, 10:51 PM   #156
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If you are again afraid that B will squander the money then inform the bank as soon as A passes on, that you as Executor are rescinding the FD maturity instructions.

My next issue was raised in post #25 which has no comments.

A + B have a joint alternate savings account and rights of survivorship generally applies.

A transferred part of the money in the joint alternate account to open an FD account in A's sole name with instruction that on maturity the money be credited back to the joint alternate savings account.

However, before maturity A passed away.

Will the money in FD account be considered as A's estate as it is not in joint names?

If B is the administrator and deliberately let the FD mature and flow back to the joint alternate account (assuming the bank does not know of A's demise), is the FD money still considered as A's estate? The delay is to avoid getting a letter of administration as A has no other asset that would require a probate.

From my personal experience, some banks would know of account holder's demise and would freeze the deceased's personal accounts immediately while some banks never know about account holder's demise and money/cheque (except cheque in the estate of ....) can still go into and out via ATM card or existing giro.
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Old 15-02-2017, 12:05 AM   #157
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If you are again afraid that B will squander the money then inform the bank as soon as A passes on, that you as Executor are rescinding the FD maturity instructions.
Oh no. This is a different case. I am B and my father A. All the money in the joint alternate account is his. I merely want him to move money from savings to FD. For some reasons, I abstain from being joint FD holders but I do not want the FD to fall into ambit of estate which will then incur cost in getting probate just for the FD as he has no other assets.
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Old 15-02-2017, 12:22 AM   #158
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Oh no. This is a different case. I am B and my father A. All the money in the joint alternate account is his. I merely want him to move money from savings to FD. For some reasons, I abstain from being joint FD holders but I do not want the FD to fall into ambit of estate which will then incur cost in getting probate just for the FD as he has no other assets.
See the contentious case of Drakeford v Cotton and Stain [2012] EWHC 1414(Ch), where a mother added her daughter’s name to her bank account for convenience in order for the frail mother to access it.

The starting point is a presumption that the monies contributed by the deceased joint owner will fall within his estate.

It will be for the surviving account holder to prove that it was the intended that the funds should belong to him after the death of the other account holder.

This can be difficult to ascertain, as usually there is no written evidence to clarify the position and accounts are often created through an informal mutual understanding between the account holders.
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Old 21-03-2017, 03:54 PM   #159
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NTUC income is offering the service at -

$160.50 per Will or $321 for a Mutua Will (two identical Wills) payable to NTUC Income. This is our special price to our policyholders. For non policyholders, the charges are between $250 and $500. If we can be of further assistance, please let us know.
.....
.
6 years later it has increased to $267.50 for a simply Will huh?
http://www.income.com.sg/value-added...iting-services
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Old 01-06-2017, 01:22 PM   #160
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6 years later it has increased to $267.50 for a simply Will huh?
http://www.income.com.sg/value-added...iting-services
Prices will always fluctuate in Sg lol

Mine is at $250 nett

There are many things to note while doing a Will... actually many of the issues mentioned can be avoided if they were advised earlier.

Joint Accounts - bypasses Wills but case to note is this: if your joint account is with e.g. Child A and you pass on without a Will… Child B and C etc can contest in court that the Joint Account is held in Trust, and not for Child A to inherit.

HDB Flats / Private Property –

Depends on the ownership – Sole Name / Joint Tenancy (based on survivorship) / Tenancy in Common (based on percentage agreed – may not be so good for business owners who are personal guarantors for bank loans)

For HDB flats - Tenancy in Common might be tricky. You can’t own 2 HDB flats in Singapore.

E.g. Husband 50%, Wife 50%. Husband passes away and his 50% forms part of his estate for distribution. If he has children, estate distribution becomes Wife 50%, children 50%. (Intestate Succession Act, if without a Will)

Since the house is part of that estate, the children has to sell back their share to their mother if they are already HDB owners themselves. If the children are minors, then have to apply to hold in trust (subject to approval from HDB)

CPF – Goes to nominated person(s) but not via CPF, but cash or bank transfer. Processing time: about 5 weeks. Bypasses the Will. (Nominations are revoked by marriage)

But if the nominees are minors below 21, the funds will be transferred to Public Trustee which you have to pay a fee annually.

Insurance – nominated beneficiaries… bypasses the Will as well. Fuss free way to pass on your inheritance. However one thing to note is if your policy is bought before Sept 2009 and your named beneficiary is your e.g. Ex-spouse, you cannot change the beneficiary without his/her consent (Section 73 trust)

A good will should also encompass a Total Disaster Clause.

Writing your own will is possible but risky… any mistakes made will render it useless and revert your estate distribution back to following the state law of the country.

Those with young kids – writing a Will allows you to name up to 2 guardians in the event that both parents pass on together.

Guardians will be the appointed Trustees for finances and welfare. If parents pass on without appointing guardians, your children (below 21) will be placed in foster homes – strangers, until the court rules kick in, which can take months). And the problem is the court will just appoint any family member whom they think is the best. But if you are still alive, you know for sure you will NEVER place your child in their care.

Anyone in the midst of divorce should do a Will fast… Divorce takes time to finalise (months/years). If anything were to happen before that, your estate will still be distributed to your current wife aka ex-honey.

Best advice to all is find a proper Will consultant that does financial planning too.

Cheers!
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Old 01-06-2017, 03:16 PM   #161
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Prices will always fluctuate in Sg lol

Mine is at $250 nett

There are many things to note while doing a Will... actually many of the issues mentioned can be avoided if they were advised earlier.

Joint Accounts - bypasses Wills but case to note is this: if your joint account is with e.g. Child A and you pass on without a Will… Child B and C etc can contest in court that the Joint Account is held in Trust, and not for Child A to inherit.

HDB Flats / Private Property –

Depends on the ownership – Sole Name / Joint Tenancy (based on survivorship) / Tenancy in Common (based on percentage agreed – may not be so good for business owners who are personal guarantors for bank loans)

For HDB flats - Tenancy in Common might be tricky. You can’t own 2 HDB flats in Singapore.

E.g. Husband 50%, Wife 50%. Husband passes away and his 50% forms part of his estate for distribution. If he has children, estate distribution becomes Wife 50%, children 50%. (Intestate Succession Act, if without a Will)

Since the house is part of that estate, the children has to sell back their share to their mother if they are already HDB owners themselves. If the children are minors, then have to apply to hold in trust (subject to approval from HDB)

CPF – Goes to nominated person(s) but not via CPF, but cash or bank transfer. Processing time: about 5 weeks. Bypasses the Will. (Nominations are revoked by marriage)

But if the nominees are minors below 21, the funds will be transferred to Public Trustee which you have to pay a fee annually.

Insurance – nominated beneficiaries… bypasses the Will as well. Fuss free way to pass on your inheritance. However one thing to note is if your policy is bought before Sept 2009 and your named beneficiary is your e.g. Ex-spouse, you cannot change the beneficiary without his/her consent (Section 73 trust)

A good will should also encompass a Total Disaster Clause.

Writing your own will is possible but risky… any mistakes made will render it useless and revert your estate distribution back to following the state law of the country.

Those with young kids – writing a Will allows you to name up to 2 guardians in the event that both parents pass on together.

Guardians will be the appointed Trustees for finances and welfare. If parents pass on without appointing guardians, your children (below 21) will be placed in foster homes – strangers, until the court rules kick in, which can take months). And the problem is the court will just appoint any family member whom they think is the best. But if you are still alive, you know for sure you will NEVER place your child in their care.

Anyone in the midst of divorce should do a Will fast… Divorce takes time to finalise (months/years). If anything were to happen before that, your estate will still be distributed to your current wife aka ex-honey.

Best advice to all is find a proper Will consultant that does financial planning too.

Cheers!
U do Will writing?
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Old 16-06-2017, 11:12 PM   #162
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Given the sudden interest in wills, including suspicious circumstances surrounding the execution of wills, this thread is up for awareness.
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Old 16-06-2017, 11:32 PM   #163
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Given the sudden interest in wills, including suspicious circumstances surrounding the execution of wills, this thread is up for awareness.
For those keen to learn more:

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Last edited by Bigoya; 17-06-2017 at 04:26 PM..
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Old 16-06-2017, 11:45 PM   #164
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Given the sudden interest in wills, including suspicious circumstances surrounding the execution of wills, this thread is up for awareness.
Looks like LKY's final 7th version of will may be contested.
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Old 30-04-2018, 03:45 PM   #165
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I need to apply for letter of administration soon.

Any advice with not easy to deal with 5 siblings and with one going away this week for about a year?
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