Tax & Estate Planning

3 Estate Planning Tools to Utilise Right Now

writing something on paper

In Singapore, there’s always a constant strive to earn more money. It’s perfectly understandable considering how high goods and services are priced, and how we want to provide a better future for our family. Some of us take the next step by preserving our wealth and future income through the use of different types of insurance. But only a few go even further to make it all fool-proof with estate planning. What is estate planning all about? And what are

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Tax & Estate Planning

4 Reasons You Need an Estate Plan in Singapore

You live in a leasehold HDB flat, and you don’t possess millions of dollars in assets. By all accounts, you don’t really have much in terms of fortune—the type that is possessed by the crazy-rich scions of wealthy families and the kind that is romanticised in movies and TV shows. So why exactly should you have an estate plan when it looks like it’s going to be a walk in the park disposing of your assets anyway when the time

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Marriage & Family, Tax & Estate Planning

Businessman loses litigation against kids over gold bars passed on to them

gold bars

A retired Indonesian-Chinese businessman, Mr Soemarto Sulistio, challenged four of his children to return his wife’s 122 gold bars but lost his lawsuit here in the High Court. The story goes something like that. In 1989, Mr Sulistio and his wife Soemiati purchased gold bars using their joint account at the United Overseas Bank in Singapore. At first, the couples kept the gold bars under both their names. But Mr Sulistio, now 87, signed documents to pass possession to his

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Tax & Estate Planning

Get a lower tax bill in 15 minutes. Also, file your taxes by 18 Apr 2020.

Update: As part of support measures in light of the COVID-19 situation, the due date for filing of personal income tax returns has been extended to 31 May 2020. Tax season 2020 is here! If you’ve yet to file your taxes because, “still got time”, you’re not alone. But why risk it, especially when the consequences of accidentally missing the 18 Apr 2020 deadline are so not worth it? Here’s a quick way to make sure you’ve maximised your reliefs

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Tax & Estate Planning

What On Earth Is A Fiduciary?

DEFINE Recently, my significant other opened the idea of discussing about whether it is worth getting a fiduciary and a financial adviser. I focused on the former. A fiduciary’s duties and responsibilities goes beyond directing the individual (i.e., beneficiary) to his or her financial goals. The fiduciary acts for or on behalf of the beneficiary in certain circumstances. This is a bond established by utmost confidence and trust. A fiduciary is either a person or an organization who has the

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