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
Writing a will in the past used to be a cumbersome and costly affair. It had to be done in the presence of legal counsel where fees could easily run into the hundreds or even thousands of dollars. Thankfully, MoneyOwl has made the will writing process extremely fast, convenient and affordable (FREE!). As an NTUC Social Enterprise, MoneyOwl has inherited a legacy of doing social good and caring for the community. Will writing is just one of the products and
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
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
