Grassroots with passion 05
SPOT LIGHT
BY LIM YEN LAN, PBM In the first part of this article (published in Issue 99, August 2015 edition), we learn that a Will allows us to determine how our assets will be handled upon our death. It does so in several ways: To Dispose of Your Property As You Wish With a Will, you can distribute your property upon your death as you wish to people and in proportions different from those specified under the "Rules for Distribution", Law of Intestate Succession. For example: You may wish to give your estate to your spouse and your children in equal shares; or have a portion for AWILL TO LEAVE PROVIDING FOR YOUR LOVED ONES THROUGH A WILL (CONCLUDING PART)
yet to come of age (21 and above) and create Trusts for them, hence deferring the distribution of assets. To Expedite Court Applications Where a Will exists, court applications are simpler and hence faster. Who Can Make A Will? Everyone can! Married women in Singapore have full testamentary capacity. Blind and illiterate persons can too, if they understand the nature of their act. Who Does Not Have Capacity? Minors (persons under 21 years) with the exception of Privileged Wills, and
your grandparents who brought you up, and another portion to a favourite charity. Or you may wish to leave everything to your children and for your spouse, to create a life interest instead. To Appoint Executors and Trustees to Take Care of Your Estate Without a Will, however, your immediate family will have to apply for a Probate – which can be a tedious process to anyone who is unfamiliar and uninitiated in estate matters. To Provide For Your Children In your Will, you can appoint guardians for children who have
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