How to Make a Will in Singapore

There’s a common misconception that writing a will is only for those with substantial assets. In reality, drafting a will is a vital step in managing your affairs, no matter the size of your estate.

Drafting a will ensures that your wishes are respected and clearly laid out, making the process significantly easier for your loved ones after your passing. In Singapore, understanding the essentials of how to make a will and the benefits it brings can provide peace of mind and ensure that your estate is handled according to your wishes.

A will is a legal document that outlines how one’s assets should be distributed after they pass. It includes specifics on who will inherit the deceased’s property, care for their minor children, and can even include provisions for pets. In Singapore, anyone over 21 who is of sound mind can make a will.

If you do not have a valid will, your assets will be distributed according to Singapore’s laws of intestacy. This means that the state will have the right to decide how your estate is divided among your surviving relatives. If you have no spouse, children or relatives, then your assets eventually go to the Government.

The executor of a will is pivotal in administering the estate according to the deceased’s wishes. Their responsibilities include organising their assets and distributing the remaining assets to the designated beneficiaries. If the deceased has any outstanding debts, the executor is also responsible for settling them.

Therefore, choosing a trustworthy and capable executor is essential, as this person will handle the practical aspects of your estate. The role demands a high level of honesty, diligence, and strong communication skills to effectively coordinate with all parties involved, ensuring that your estate is managed correctly and in accordance with the legal and personal wishes of the deceased.

There are various options available to draft a will. Which option you choose should be carried out with caution and having in mind specific needs. Here are some ways a will  may be written.

There are various options available to draft a will. Which option you choose should be carried out with caution and having in mind specific needs. Here are some ways a will  may be written.

1. Using Online Templates

For individuals looking to draft a will, there are numerous templates available for free use online but you must exercise tremendous caution that you understand your rights. These templates generally provide a basic framework for writing a will and can offer a cost-effective alternative to typical options..

However, it’s important to note that these templates might not cover all scenarios or adequately cater to more complex distributions. For example, if you own property in multiple countries or have a large, diverse portfolio of assets, drafting a will using a standard template may not address the specific legal nuances required for such complexities. Therefore, it’s essential to scrutinise any template carefully to ensure it fulfils your specific needs and complies with legal standards before finalising your document.

2. Using Lawyers for Wills

Hiring a lawyer to draft your will offers numerous advantages. Firstly, a legal expert can provide tailored advice and ensure your will complies with Singapore law, avoiding common pitfalls that could later contest the will.

Additionally, lawyers can also help customise your will to include specific clauses that suit your unique family dynamics or financial situation. For instance, if you have a blended family with children from previous relationships, a lawyer can craft provisions that ensure all your children are treated fairly or set up trusts to manage how young children will receive their inheritance, thereby avoiding potential disputes and complications.

When planning to draft a will, there might be additional costs involved. This includes fees for:

• Professional will storage: Securing your will with professional storage services can cost approximately $100 per year.
• Bank deposit box: Storing your will in a bank deposit box starts from $200 per year.
• Executor fees: If you appoint a professional executor, fees can be up to 5% of the value of the assets distributed, which ensures professional handling of your estate.

Engaging professional help when writing your will can save your family unnecessary stress and conflict. Specialised lawyers for will writing are adept at navigating complex legal and family dynamics, ensuring your estate is managed as you wish.

If you’re a Singaporean looking for a trustworthy lawyer to draft your will, DLLC is here to help. Our experienced team of civil lawyers and family lawyers are here to provide legal advice that can guide you through writing a will, ensuring that the process is as smooth and seamless as possible. Whether you’re navigating a divorce or a child custody dispute, our lawyers will always prioritise your interests and provide expert legal services. Reach out to us today to find out more!