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Warrior88

Write A Will

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For cash, joint account. Spouse will withdraw all amount :(

For single account, base on Intestacy law, spouse/parent share.

But bank, got many procedure in release the cash without a will.

for joint accounts if i remember correctly, its the law of survivorship?

one dies, the other gets it.

 

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http://ask-us.cpf.gov.sg/Home/hybrid/Theme...&SectionId=

Q: How will my CPF savings be distributed under the intestacy laws?

A: If you are non-Muslim, the Public Trustee will distribute your CPF savings in accordance with the Intestate Succession Act (Cap 146). Your CPF savings will be distributed to your family in the following manner as shown here

Hi therat, what abt the distribution of HDB flat if the sole owner passed away and he has 2 occupiers as listed? The remaining occupiers are his father and sister. Parents is divorced, mother is not under the name of the HDB.

 

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Hi therat, what abt the distribution of HDB flat if the sole owner passed away and he has 2 occupiers as listed? The remaining occupiers are his father and sister. Parents is divorced, mother is not under the name of the HDB.

Ya, if sole owner passed away, does the 2 occupier listed still have to carry on the monthly instalement or insurance will paid for everything? Will the flat go to them?

 

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<!--quoteo(post=564045:date=Aug 13 2010, 08:39 AM:name=Rof|maoxz)--><div class='quotetop'>QUOTE (Rof|maoxz @ Aug 13 2010, 08:39 AM) <a href="index.php?act=findpost&pid=564045"><{POST_SNAPBACK}></a></div><div class='quotemain'><!--quotec-->Hi therat, what abt the distribution of HDB flat if the sole owner passed away and he has 2 occupiers as listed? The remaining occupiers are his father and sister. Parents is divorced, mother is not under the name of the HDB.<!--QuoteEnd--></div><!--QuoteEEnd-->

Ya, if sole owner passed away, does the 2 occupier listed still have to carry on the monthly instalement or insurance will paid for everything? Will the flat go to them?

think occupiers have no right to the flat at all....

 

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Drawing up a will - Properly, is very important.

Let the lawyer earn that bit of money and ensure that your wishes are respected. My grandpa passed away and left a handwritten will in Chinese and bore 2 signatures of witnesses. THe wordings of the will, however, did not give legal effect to a will. In the eyes of the law, its more like a "right to manage".

My grandpa had intended to gift my dad his only property, a hdb flat. All my grandpa's assets had been given away, so the HDB is his sole asset remaining. However, due to the lack of legal effect of the handwritten will, my dad cannot get the flat to himself, as instructed by my grandpa.

Instead, it would be spread across all my uncles and aunties, 17 of them. In the end, my dad was disappointed. I believe if my grandpa knew about it, he would be upset as well. In particular, my grandpa hated his eldest son the most and had even instructed us not to let him take part in his funeral. But in the end, he still have no choice but to give his most hated son a portion of his wealth.

This is a true reflection of life, do not be penny wise and pound foolish. Letting the law distribute your assets is seldom what most people desire. Getting things done is much more important.

Cheers!

 

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i agree on the importance of will. a will is not expensive. just need consideration of the distribution of assets. and it makes it easier to process the will too. otherwise the process of getting the letter of probate/administration due to lack of will is too lengthy.

 

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i agree on the importance of will. a will is not expensive. just need consideration of the distribution of assets. and it makes it easier to process the will too. otherwise the process of getting the letter of probate/administration due to lack of will is too lengthy.

I remembered my late ex-hubby got the lawyer to draft the Will and gave the lawyer 'Ang Pow' with $100, when doctor told him he had 6-months life span left.

Edited by mae29
 

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