just need more folks to feedback/suggestions to them on their needs
why need to payout when surviving joint holder still have access?
wow so complicated, must be written for US? am not HNW so nothing worth fighting over
ya. but need to literally write to them or like feedback to MP. have you done so?
more of disputeswhy need to payout when surviving joint holder still have access?
wow so complicated, must be written for US? am not HNW so nothing worth fighting over
no I'm just a nobody & no one seems interested. hope someone with more influence can help.
that is precisely the point right. need enough nobody to feedback. then they will hear it. if everybody assumes someone will do it, then there wouldn't be enough calls for demand to do so. then what you wish for wouldn't happen
Cannot assume that joint CDP account got no issue. I just pointed out that I am having issue with operating a joint cdp account with my father simply because we missed a step. Read the T&Cs of the entities (including banks and insurance etc) that accept joint holding.no issues for those that are in joint CDP account.
I'm talking about those that are in individual CDP account mah
Even CPF nomination can be challenged
Can never tell. Some spouse keep secret and there may be discovery after death several years laterwon't miss if it's significant. if insignificant probably missable
What else you think MAS or CDP can do? Expect them to be involved in operation and distribution of private assets?
I think is offering nomination like CPF?Can never tell. Some spouse keep secret and there may be discovery after death several years later
What else you think MAS or CDP can do? Expect them to be involved in operation and distribution of private assets?
Matters can turned ugly when there are interested parties wanting a share of the deceased's estate even if not significant.just need more folks to feedback/suggestions to them on their needs
why need to payout when surviving joint holder still have access?
wow so complicated, must be written for US? am not HNW so nothing worth fighting over
All his children knows know that he had more than 100k in his bank 
But alas about 2 years before his death, he asked me to be joint holder of his account in the presence of 2 other children 
CDP is already offering joint ownership. What else you like?
how they even find out?Matters can turned ugly when there are interested parties wanting a share of the deceased's estate even if not significant.
My fathers had not much above 100k. He took his posb book when going out and hid it when he is at home
alamak … why he do that in presence of othersWhen he was in his eighties, I told my youngest sis, who my father stayed with, to tell father to convert his posb into joint ownership with her or my younger bro. When he procrastinated I spoke to him personally about converting his account into a joint account. He said not time yet
surely others can't contest on the 3 posb JA right? but hdb will need LOA liao. i read you need at least 2 pax for LOA?Do you think as joint holder I got survivorship rights to keep all to myself? I asked him how he like me to distribute or else I would use my discretion. He refused to give an answer
Be converting his account to joint account, I open another posb JA with him for the sole purpose of transferring by giro, his CPF monthly payout. Then from posb, I discovered that my father had another posb account in single name that he had forgotten completely as nothing much inside. Then I converted that account into a JV for the sole purpose of transferring by interbank the monthly cash allowance that I gave. Before that I used to bank the allowance in the first mentioned posb account.
When he passed away intestate, he had 3 posb JA account with me and a fully paid up 3 rm hdb in single name
Guess what I did with Letter of Administration?
can switching from individual to joint (vice versa) be done online?
All children knows as sometimes he accidentally left his pass book on the table and even his given away son knows and we confide in each other about his bank balance.
Coincidence. My siblings happened to at home when I visited him.
Just making a point that JA is not a guarantee to surviving joint holder especially the first JA where initially I deposited his monthly allowance until a second JA was open.
I distributed only the first bank JA balance to all including myself according to my discretion. My share, I put aside or on hold in case any siblings are desperate for money. All others I keep for myself. Of course I open myself to litigation for not complying with intestate act . if matters turn ugly. But I am blessedif you already have enough, guess you could exclude yourself & just let your siblings settled among themselves?
don't understandAll children knows as sometimes he accidentally left his pass book on the table and even his given away son knows and we confide in each other about his bank balance.
Coincidence. My siblings happened to at home when I visited him.
Just making a point that JA is not a guarantee to surviving joint holder especially the first JA where initially I deposited his monthly allowance until a second JA was open.
I distributed only the first bank JA balance to all including myself according to my discretion. My share, I put aside or on hold in case any siblings are desperate for money. All others I keep for myself. Of course I open myself to litigation for not complying with intestate act . if matters turn ugly. But I am blessed
what did u do with Letter of Administration? Curious..Matters can turned ugly when there are interested parties wanting a share of the deceased's estate even if not significant.
My fathers had not much above 100k. He took his posb book when going out and hid it when he is at home
When he was in his eighties, I told my youngest sis, who my father stayed with, to tell father to convert his posb into joint ownership with her or my younger bro. When he procrastinated I spoke to him personally about converting his account into a joint account. He said not time yet
Do you think as joint holder I got survivorship rights to keep all to myself? I asked him how he like me to distribute or else I would use my discretion. He refused to give an answer
Before converting his account to joint account, I open another posb JA with him for the sole purpose of transferring by giro, his CPF monthly payout. Then from posb, I discovered that my father had another posb account in single name that he had forgotten completely as nothing much inside. Then I converted that account into a JA for the sole purpose of transferring by interbank the monthly cash allowance that I gave. Before that I deposit his monthly allowance in the first mentioned posb account.
When he passed away intestate, he had 3 posb JA account with me and a fully paid up 3 rm hdb in single name
Guess what I did with Letter of Administration?
I may have missed your post...what is the issue of your joint CDP account? Care to elaborate?
as mentioned, something like cpf/insurance nomination lor.
nothing is stopping anyone from challenging it. but whether successful or not is another matter.
this sort of thing typically need authorisation. don't think they have set it up such that it allows singpass to authenticate 2 different ppl
Poor families also can fight over money.wow so complicated, must be written for US? am not HNW so nothing worth fighting over
but you need $$$ (pay legal) to fight over $$$ leh
if will or no will also can contest, better if done without will, less hussle. i think person's wish probably more on family harmony than distribution. if distribution going to create friction among family, better just will to charity
nothing's perfect,
fortunately your siblings didn't pursue further. but what about hdb? don't u need LOA for transfer of ownership?I distributed only the first bank JA balance to all including myself according to my discretion. My share, I put aside or on hold in case any siblings are desperate for money. All others I keep for myself. Of course I open myself to litigation for not complying with intestate act . if matters turn ugly. But I am blessed
