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The 7 Benefits of writing a Will
If you die without a Will, your assets will not be distributed according to your wishes. Rather, your assets will be distributed in accordance with the percentages prescribed by law according to Section 7 of the Intestate Succession Act.
As such, it is be advisable for you to do a Will.
The 7 benefits of writing a Will:
- Clear intention: Decide on who are your beneficiaries and how much should they receive.
- Peace of Mind: Knowing that you have a proper plan in place will allow you and your family to feel more at ease. Without a will, you may have fears about how future affairs will be handled.
- Trust: Appoint someone you trust to carry out your wishes.
- Guardians: Appoint guardians to take care of the minors (below the age of 21).
- Avoid Family Disputes: As the instructions have been clearly stated in the Will, the risk of disputes can be minimised.
- Specify funeral wishes: Specifying your funeral wishes in your Will gives clear directions to your loved ones (e.g. burial vs. cremation)
- Expedite Legal Process – Generally, as there is a Will, it takes a shorter time and less legal fees to apply for Grant of Probate.
For more information on the contents of a Will and info-graphics, go to Wills – Who and What?
What happens if you die without a Will? Check our info-graphics on Sec 7 of the Instestate of Succession Act.
For more information Grant of Probate in Singapore, kindly call Ray Louis Law at +65-65572725.
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