Will or no Will

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An individual with high net worth can manage their wealth by way of writing a will which goes into
effect only after the person dies.
If there was no will left behind by a deceased, then the family members can apply to the court to be
appointed the administrator of the estate by applying for a Grant of Letters of Administration (LA).
There must be two applicants if there is a minority interest.
Once the LA has been extracted, distribution of the estate is carried out according to the Intestate
Succession Act, in following way:

 

 

If both parents are met with an accident what will happens to their children? What safeguards they can
put in place? –

Parents should appoint a guardian for your children under a will or deed – this person is known as a
“Testamentary Guardian”. If no such guardian is appointed, an intended guardian must apply to the
Singapore courts to be appointed as Legal Guardian and court may appoint such a person as it sees fit.
The applicant must reside in Singapore, though they needn’t be related to the parent and children.

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