Handling your own Will drafting can and will make a bad situation worse.
As a lawyer handling an important situation, we will help you navigate the minefield of drafting Wills.
Yes, if you wish to distribute your possessions according to your wishes, you should draft a Will.
Do speak to us for advice.
Yes, an LPA takes effect if you lose your mental capacity (i.e. dementia, coma, a mental illness that affects decision making). A Will only takes effect upon your passing.
A Lasting Power of Attorney (LPA) is important to have, the cost to draft and apply for one is extremely low.
When it comes to planning for your passing you need to do the following:
- Obtain a Lasting Power of Attorney;
- Write a Will;
- Complete your CPF Nominations;
- Complete your Insurance Nominations.
Doing these steps will potentially save your family from arguments and costly legal disputes.
A Simple Will consist of the following:
- An Executor - the person who will distribute your estate according to your wishes.
- A Replacement Executor - the person who takes over the Executor if necessary.
- A list of Beneficiaries - the person(s) who will be receiving your estate.
- A list of how your estate is to be distributed in percentage (%).
- A Guardian- the person who will be looking after any child(ren) under the age of 21.
We will be able to assist you with the drafting of your Will if you provide us with these details. Do speak to us for advice.