Will writing and CPF nominee.

[Mr. Wood]

Just sharing a story:

"My friend died without a written will, no legal fees, no hassle because he only has 3 assets. 1. A hdb flat, joint tenant with wife and daughter, so legal ownership goes to them. 2. CPF nominations made. 3, Cash: he informed all family members (10 children) at a meeting how he want it distributed, kept in daughter's account before he passed away."

sounds like those csb agents spin to create fear

 

[Mr. Wood]

Nobody can give answers?

First estate account was open in 2011 in the name of X. Second estate account was open this year in the name of Y. No intention to close the accounts. Still got money inside.

In another few years, I may also become executor/beneficiary of my aunty's estate What can happen if I uplorry before liquidating the estate which comprise half share of a hdb flat? I already determined from HDB that I need not relinguish or forced to sell my half share of the property (even though I have my own flat) if the other owner refuse to sell or buy over my half share.

if substantial amt can include in your will transfer to trust company.
but everything comes at a fee

 

[maple96]

"breaking news"

just read the latest ugly fight among the children of the number 1 family over their father's will, posted in the youngest son's facebook.

will or no will, there is still ugly scenarios!

 

[livingcharsiew]

https://www.moneyowl.com.sg/articles/free-online-will-writing-service-by-moneyowl/
https://www.ocbc.com/personal-banking/lifegoals/willgenerator/#/

 

[xtwis7]

The free services cover only a very simple will which may not always work for everyone.

heard there is some free will writing resources etc right?

 

[reddevil0728]

I saw this article about will writing and they say is more expensive getting a LOA compared to if there is a will?

Link doesn’t work

 

[L.C.88]

Agreed. Why take the risk of leaving behind a will that is invalid or letting gifts intended for your loved ones fail.
I came across several paid will writing services and decided to go with EzWills' deluxe will (there are 3 options to choose from, starting from SGD$40). However, I was hasty in the writing of my will and made several errors after submission (and payment).
One of the founders of EzWills kindly contacted me and pointed the critical errors out. He was very patient and detailed in explaining. It was a pleasant surprise, as I did not expect such excellent customer service at such a reasonable price. I also find that the EzWills blog is an excellent resource and makes for interesting reading.
Keeping my will simple was the most important thing I learnt to keep my gifts from failing. Making a will an extremely important task which I hope more Singaporeans will engage in. Make sure your hard-earned money and assets go to the people of your choosing. Good luck!

 

[L.C.88]

Hi, I used the OCBC online generator to create a free will and it does provide many options in terms of executors/beneficiaries/ asset allocation/specific instructions. I actually found it more complicated than I expected. However, it would be well and good if leaving behind specific plans for my funeral and instructions on what to do with my body after I kick the bucket were my priorities. But it would be useless planning so much if my will were to fail entirely.

Also, I am not making my will because I am dying soon, so something that struck a chord with me with EzWills was one of their top tips for making a will: “Make your Will on the basis that you do not know what your assets will be in future.” There is no point listing all my assets and allocating them individually now because they will certainly change over time (unless I die in the very near future). By stating in detail every asset I have NOW when they may not even exist but the time I die would be a rather troublesome task for the executor (and disappointing for the beneficiaries, haha). This is something I learnt from EzWills. Of course, leaving behind a list of assets/ liabilities for my executor will be important, but that would be something that requires regular updating, which a well written will should not require.

The online generator is what it says it is, and there is no human on the other end checking for errors. Being given the opportunity to fill in so many options and instructions may make my will seem very detailed and comprehensive, but would be completely useless if it fails.

There is a rather lengthy disclaimer by OCBC upon downloading the will which includes a line "The Online Will Generator is intended for general use only". I am not sure what "general use" means and I'd like to think that everyone (and their wishes upon death) is unique. I'd much rather pay some money for a qualified professional to confirm that my will and gifts will not fail (or worse, be completely invalid).

For the price of an EzWills will, I have certainty and peace of mind. My will is really not complicated but it still had the potential of some gifts failing ("Ademption of gifts") because of my lack of knowledge of how the law works. The personalised advice I received from EzWills on will writing and how to go about getting it witnessed and signed has given me confidence that my will will succeed. I am simply sharing my will-making experiences here, no hard feelings. Good luck everyone!

 

[GreggMQ]

Well, folks, it was always hard to compose unique and genuine official papers and essays, that's why I always ask someone who is real professional in this sphere of business. And when I've asked my good friend, few weeks ago, about what should I do about by job writing task, he said that i need someone to write a paper for me and said that guys from Trust My Paper can handle this type of writing work with their services. They have professional writers in their team, who know better how to compose those texts.

 

[reddevil0728]

For me it was always hard to compose unique and genuine official papers and essays, that's why I always ask someone who is real professional in this sphere of business.

Uhuh???????

 

[qhong61]

For me it was always hard to compose unique and genuine official papers and essays, that's why I always ask someone who is real professional in this sphere of business.

Scratch head...

 

[lasnoblur]

I never made a will cause I am fine with intestate distribution. A will need to be updated now and then.

I have all my assets and liabilities in a worksheet including passwords to various matters like internet banking and access to CPF accounts etc including password to this forum

The worksheet also serves as my diary. My beneficiaries and a 'third' party are informed of my password to access my worksheet in a thumb drive should anything happened to me.

With access to my worksheet, my beneficiaries and third party can do whatever they need before the assets are actually crystallised as assets of the estate.

In the worksheet I also stated what should be done and it's up to the beneficiaries and third party to decide whether to adhere to my dying wishes.

Thanks for sharing.

Any advice on 2FA authentication?

i think the ocbc will generator is good enough for all SG bank accounts and equities (CDP nominations).
Then insurance policies just state the type and your dependant can access more easily.

However, for custodian accounts and other brokerage accounts which are managed online as default, some of them require 2FA. how to solve that? most 2FA is go to phone as default nowadays and phone no. / phone might not be available anymore once shi* hits.