Will making

[VictorvonDoom]

Huh? Distribution will always be in cash. Need to specifically state so?

Yeah, my father seems very adamant this is true. Probably read this from those "alternative news sites".

There's no mention on the CPF website or I cannot find anything on this though.

 

[lzydata]

I found this link that should be useful.

If you wish to make a CPF nomination, please visit any of our Service Centres to complete a CPF Nomination Form or a CPF Nomination Forms Booklet in the presence of our Customer Service Executives (CSEs) who will be your witnesses and clarify any questions you may have in respect to the nomination process. Click here for a sample of the CPF Nomination Form and here for a sample of the CPF Nomination Forms Booklet. While the CPF Nomination Form meets the needs of the majority of members, members with the following needs should use the CPF Nomination Forms Booklet:

- make a Cash nomination; and/or
- make an Enhanced Nomination Scheme (ENS) nomination; and/or
- make a Special Needs Savings Scheme (SNSS) nomination;
- authorise the Board to disclose your CPF information after death; and/or
- authorise a person to act on your behalf if you subsequently lack capacity within the meaning of section 4 of the Mental Capacity Act (Cap 177A) (“MI member”).

http://mycpf.cpf.gov.sg/CPF/News/Notices/Distribution_of_CPF_upon_Death.htm

In other words, most people would use the CPF Nomination Form which only has cash nominations. The CPF Nomination Forms Booklet is when you want other options for part or all of the funds, such as CPF-to-CPF nominations or for the board to disburse the funds gradually instead of at once (for a special needs nominee).

If the nominator is doing the nomination at the CPF Service Centre, which is advised because you will need witnesses, the option for cash nominations or otherwise shouldn't be too confusing.

This idea that "if you don't choose cash, it will be distributed CPF-to-CPF" sounds like a half-truth - not exactly untrue, but not true either. It does seem to be yet another urban legend about how the CPF Board is trying to steal your money.

IT'S MY MONEY, GIMME MY MONEY!

Ok, just make sure you sign the form that says "Form 6A (1) - CASH" at the top right.

 

[limster]

Sometimes, a seemingly simple will can become complex due to the big sum involved.
The love of money is the root of all problems. But in this case, donation to a charity is preferred.

Handwritten note versus will signed at law firm (Straits Times 23 Jan 2015)
A 60-YEAR-OLD man who is in a dispute with his older sister and niece over his father's will told a court yesterday why a handwritten note represents the patriarch's true wishes.

That note, written in secret in 2012, contradicts a document drawn up in 2010 which the two women insist is the true will of Mr Lian Seng Peng.

The guy supposedly created a new "secret" will by making a handwritten note.

If you are the type that thinks its good to handwrite your will and keep it secret, then yes, better go for a will-writing service

 

[henrylbh]

I just changed my nomination at the CPF office. I used thumbprint. 4 thumbprints. But the officer/s never indicated their NRIC as provided for in the form! Valid or not?

 

[edwinttt1978]

I just changed my nomination at the CPF office. I used thumbprint. 4 thumbprints. But the officer/s never indicated their NRIC as provided for in the form! Valid or not?

Ask them to fill in the blanks.
Failure of filling up NRIC should not be sufficient to invalidate the nomination.

 

[chopra]

1. I'm checking with my insurance company on this matter. Will update you guys when i get a reply. :

• For nominee under the age of 18 (my child), can I confirm that the payout will be overseen by a trustee till the child reach 18 year-old?

• I’m concerned about the time value of money – erosion of payout due to inflation. Will the payout be locked down by XYZ company till the child reach 18 year-old?

2. Any idea for cases of divorce - will the spouse (suppose he/she is a nominee) get the payout?

 

[chopra]

This Article provides very good guidelines when making a will

https://drive.google.com/file/d/0B2sIXwIJBPmWdzJpRXZCU3JIQmc/edit?usp=sharing

2 Simple Will Templates

https://drive.google.com/file/d/0B2sIXwIJBPmWdklCeG5ubW5TVVE/edit?usp=sharing


https://drive.google.com/file/d/0B2sIXwIJBPmWMEpISG8xTTRYTms/edit?usp=sharing

bringing up this post again. Good one.
Need to nominate for bank, cpf, insurance, private house, stocks.

For lifehack, bank and stocks use joint account.

For house, spouse auto become 100% owner? Can we indicate otherwise? If die, the other 50% give to child/children? But will that disqualify their chance of getting first-time house next time?

 

[wts2013]

1. I'm checking with my insurance company on this matter. Will update you guys when i get a reply. :

• For nominee under the age of 18 (my child), can I confirm that the payout will be overseen by a trustee till the child reach 18 year-old?

• I’m concerned about the time value of money – erosion of payout due to inflation. Will the payout be locked down by XYZ company till the child reach 18 year-old?

2. Any idea for cases of divorce - will the spouse (suppose he/she is a nominee) get the payout?

Divorce does not void prior nominations/wills, so u must amend when u are already contemplating divorce, otherwise the other party will get it even when divorce proceedings still in progress

 

[wts2013]

bringing up this post again. Good one.
Need to nominate for bank, cpf, insurance, private house, stocks.

For lifehack, bank and stocks use joint account.

For house, spouse auto become 100% owner? Can we indicate otherwise? If die, the other 50% give to child/children? But will that disqualify their chance of getting first-time house next time?

hdb flat under joint ownership? cannot do otherwise, but if u are processing divorce, can do something to get your share to give away

 

[wts2013]

1. I'm checking with my insurance company on this matter. Will update you guys when i get a reply. :

• For nominee under the age of 18 (my child), can I confirm that the payout will be overseen by a trustee till the child reach 18 year-old?

• I’m concerned about the time value of money – erosion of payout due to inflation. Will the payout be locked down by XYZ company till the child reach 18 year-old?

2. Any idea for cases of divorce - will the spouse (suppose he/she is a nominee) get the payout?

in your will, u can appoint a guardian, someone u trust, to look after your children and manage your estate until they reach adulthood

 

[chopra]

in your will, u can appoint a guardian, someone u trust, to look after your children and manage your estate until they reach adulthood

means the trustee can withdraw money and invest it hor? I don't want the money to erode. Rather park in places like UOB One or OCBC360.

 

[wts2013]

means the trustee can withdraw money and invest it hor? I don't want the money to erode. Rather park in places like UOB One or OCBC360.

yes, invest and manage your estate for the benefit of your children, whether your guardian do it themselve or engage professionals to do it.

 

[wts2013]

I was/am informally appointed as guardian for some funds (almost 10 years already past) and I did not write my Will, procrastinated too long. I was almost killed last year after an operation, and during that ordeal I shouted "I cannot die, I have not written my Will to handle those funds". Till now, I'm still procrastinating, tho handling less funds now.

So if u appoint a guardian, make sure the guardian segregates your estate funds and have a Will to make sure the assets go back to your children.

 

[Techno Pride]

There are 60 or 70 plus commercial trustees which may be nominated in your will. Can take care of money of behalf of minor.

They might be able to help. Costs a few k.

 

[chopra]

There are 60 or 70 plus commercial trustees which may be nominated in your will. Can take care of money of behalf of minor.

They might be able to help. Costs a few k.

i will just nominate my spouse. put in "ocbc 360 type of savings". how to go wrong.

Cost a few k to manage a few thousands of k is alot of admin fee.

Cost a few k to manage a few hundreds of thousands of k is not alot of admin fee. Let's put things in numbers...

 

[kongtou]

Can a "WILL" done in another country take full effect in Singapore?

 

[bigass]

Please consider the last power attorney as well. Its equally important

 

[edwinttt1978]

Can a "WILL" done in another country take full effect in Singapore?

Yes, it is possible provided provisions of section 5 'Rules as to formal validity' of the Wills Act are complied with. An affidavit of the foreign law should also be obtained.

 

[henrylbh]

Anyone familiar with Trust wherein the trustee is an individual like me?

What is the indicative cost of creating such a trust if the trust is on a half share of a HDB flat only, under tenancy in common?

 

[henrylbh]

means the trustee can withdraw money and invest it hor? I don't want the money to erode. Rather park in places like UOB One or OCBC360.

I believe a trustee has duty and responsibility and he is unlikely to take any risk on investing. He will simply place the fund in fixed deposits.