Tax & Estate Planning

What Happens To Your Finances When You Die In Singapore?

Technically speaking, all the monetary value that the deceased left behind belongs to his or her estate. This estate includes bank accounts, investments, and properties. The only exceptions are the assets held in the trust and the individual’s CPF money. All the assets will be frozen once a person passes away. The professional assigned to go through the departed’s Will is known as an executor. An executor is usually a family lawyer or a trusted relative. He or she applies

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Tax & Estate Planning

Should you DIY or pay someone to draft your will in Singapore?

It’s a misconception in Singapore that it’s necessary to hire a lawyer to draft a will. Nothing could be further from the truth. Anybody can draft a will for you. In fact, if necessary, you can even write your own will, and it can be a perfectly valid will after you pass on. While drafting wills does tend to lie within the domain of most estate-planning lawyers, many wills-drafting companies have also sprung up to service these needs. These companies

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Tax & Estate Planning

5 Reasons to Create a Will in Singapore

While there has been an increase in the number of younger people making wills in Singapore [1], there still seems to be a lingering taboo over the creation of something Singaporeans perceive to be morbid. Unfortunately, as the saying goes, nothing is sure in life except death and taxes, and we all need to realize this fact and plan ahead for the future. Generally, it tends to be a good idea for anyone to create a will. However, it’s even more

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Tax & Estate Planning

Surefire Ways To Save Money On Your Next Income Tax

Anyone who takes part in trade and business is chargeable with tax. It is known that tax rates in Singapore are relatively lower compared to other countries in the world, making it more attractive for individuals and corporations to participate in some form of exchange in business. Despite the relatively lower tax rates, no one entirely enjoys the act of filing for taxes! This is why you must employ creative ways to save on your next income tax. Consider these

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Tax & Estate Planning

Are You Cut Out To Be A Landlord In Singapore?

While looking out for a flat seems like an easy task, hard work needs to be poured behind the scenes. Ensure that you are prepared to be a landlord by analyzing some of the initial factors: Are you familiar with the legal regulations? Much like the systems imposed in many institutions in Singapore, rental property owners need to follow a set of regulations as mandated by the Law. Facets include leases, licenses, security deposits, maximum number of tenants, and eviction

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