Creating a will may seem like a difficult process, especially if it is your first time, but with the right information, it does not have to feel overwhelming. Whether you are choosing a Basic Online Will or an Advanced Online Will, it is important to understand the key details of will-writing so you can ensure your loved ones are taken care of in the future.

A will in Singapore is a legal document that shows how your assets will be distributed after your death and who will care for your minor children if you pass away. You should make sure everything is listed in clear manner to avoid any conflicts that may arise later.

1. What a will is

A will is a document that holds legal authority and details how your belongings and assets will be given out when you die. It also includes important instructions about who will care for your children if they are minors when you pass away. If your estate is simple, a Basic Online Will could work well for you, but if your estate is more complicated, you may need to choose an Advanced Online Will for better coverage, especially if you have specific wishes regarding your assets or guardianship.

2. Legal requirements for writing a will in Singapore

You must meet certain conditions in order for your will to be legally valid in Singapore. The will needs to be written out, and the person writing the will must be at least 21 years old and mentally capable when creating the document. The testator or person writing the will also needs to sign it in front of two witnesses. Those witnesses cannot be people who will receive anything from the will or be married to someone who will.

These witnesses will also sign the document in front of the person writing the will. If the testator cannot sign the will due to health reasons, they can have someone else sign the document in their presence.

3. What assets should you include in your will

When you create your will, it is important to include all of the key assets you own. These could be things like real estate or your personal items such as your house, your bank accounts, your jewelry, and your stocks. You should also think about your insurance policies and only include them if you still have the right to those policies. However, CPF savings cannot be included in your will, so you will need to use a CPF nomination for these. If you have minor children, you should also include a Deed of Temporary Guardianship, which lets everyone know who will be responsible for your children if something happens to you.

4. Why appointing executors and beneficiaries matters

Your will must clearly name your beneficiaries and list out what they will receive from your estate. You also need to appoint someone you trust as the executor because they will follow your instructions and make sure your estate is handled properly. The executor will take care of paying off any debts and will ensure that the remaining assets go to the people you have named. Choose your executor carefully because this person will make sure your wishes are carried out after your death.

5. Why creating a will is important

It is about ensuring that your loved ones get the care based on your wishes are followed after you pass away. A will also help prevent disagreements between family members that could result in costly legal problems later.

Conclusion

If you decide on a Basic Online Will or an Advanced Online Will, you should make sure your will is well-written and legally correct to protect your loved ones. Do not forget to include a Deed of Temporary Guardianship for your minor children if you have them. Proper planning of your estate is important for making sure everything is handled after you are gone.