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Preserve your legacy with a comprehensive Will.
A Will is both a love letter and an effective Estate Planning instrument. It is a legal document where you list down your wishes on how your assets are to be distributed. It also specifies the persons whom you entrust with the responsibility of taking care of your assets and the proper distribution to your beneficiaries upon demise.
For parents with young children, they can also decide the best person to act as the children’s legal guardian in the unfortunate occasion where both parents are not around.
PreceptsGroup is the new brand name for the Singapore branch of Rockwills after a Management Buy-Out in December 2019. After a successful 10 years of operation, the Singapore branch has now embarked on a new journey. The Management team, Operational team, Wills and Trust Team remains essentially the same. The Trust licence under Rockwills has continued under PreceptsGroup.
Since the rebranding, the business has continued strongly. For past clients who have named Rockwills Singapore as Executor and Trustee need not revise their Wills and Trust deed as the UEN has not changed.
A Will is often preferred to be kept as a confidential plan, with no risk of tampering, only to be shared when the need arises.
We provide a peace of mind to families and companies through our Will Custody services. At a nominal fee, our clients ensure loved ones are aware of their Estate and Succession Plan only when the need arises.
Our team of professionally-trained Estate and Succession Practitioners (ESPs) spends much time and effort to consider the differing needs of every client to holistically address their legacy concerns. Our wills lawyers are able to provide will writing services for your Singapore assets as well as your worldwide assets.
In the face of cross-border transactions and ownership, many clients find themselves requiring their Wills to take into account assets located outside Singapore. These include foreign company shares, investments and properties amongst others.
It is important to understand that some jurisdictions are also subjected to forced heirship rules with the greatest impact on their immovable assets outside Singapore.
We are experienced in writing a will to include assets located in Australia, China, Malaysia, United Kingdom, British Virgin Islands and India, to name a few.
A comprehensive Estate and Succession Plan not only looks at wealth distribution but also a well-considered timed distribution instead of an outright gifting of a lump sum. A Testamentary Trust structure benefits clients who prefer to control how their assets are being utilised by their beneficiaries through a staggered distribution plan.
A Testamentary Trust structure will help to ensure beneficiaries achieve certain milestones/ conditions before they can inherit clients’ hard-earned wealth. Some common terms and conditions set by our clients include: Beneficiaries will receive S$X upon graduation; S$X upon 1 st legal marriage; upon the beneficiary’s 21 st birthday.
As such, a Testamentary Trust structure is often regarded as the most simplistic tool to preserve the assets and to ensure that beneficiaries will spend the inheritance wisely.
We are a licensed trust company providing Trust solutions for estate and succession planning purposes for both families and businesses. We can be appointed to act as trustee or as administrator of estate.
We assist to set up a company in various territories around the world and provide exceptional company secretarial services. We have more than 1500 satisfied clients regionally and have a wide network for you to build a business ecosystem.
A Will is the last document that articulates your instructions and wishes.
It is a legal document that empowers you on the distribution of your assets when you have passed on.
This may result in a drain of your loved ones’ emotional state, time and financial resources.
By delegating decisions regarding the disposition of an estate to the state, individuals risk encountering various complications. This article delves into the importance of having a Will and outlines the circumstances under which it becomes a crucial tool for ensuring the smooth transfer of assets.
One might wonder if everyone requires a Will. Some individuals assume that possessing few assets or lacking marital status exempts them from the need for a Will. However, irrespective of one’s asset portfolio or marital status, having a Will remains significant for many reasons.
A Will provides you with the opportunity to clearly define
When you are married, having a Will is important to outline your intentions with a new family unit formed. A marriage would revoke your previous Will, as well as your CPF Nomination.
Given the intimate nature of the relationship, there will be assets that are held jointly, it is essential to specify what happens to these assets should there be a common disaster.
Parents with children should prioritise writing a Will.
You are the best person to decide on the most suitable candidate to be the legal guardian of your children. Designate a Guardian, guaranteeing the protection and welfare of your children, instead of leaving this to the Court to decide for you.
By stating your preferences in a Will, you can ensure that your assets are distributed according to your intentions. Furthermore, a Will enables parents to appoint an executor to handle asset distribution and allowance to the Guardian caring for your children in your absence.
Individuals with a positive net worth, regardless of their marital or parental status, greatly benefit from having a Will. Writing a Will allows for precise allocation of assets, leaving no room for errors or potential disputes among loved ones. By creating a well-defined plan for asset distribution, individuals can ease the burden on their loved ones during an emotionally challenging period.
While young individuals without dependents or significant assets may not require a Will immediately, it is advisable to establish one as soon as their circumstances change. For instance, acquiring assets or starting a family necessitates the creation of a Will to ensure proper management and distribution. Updating the Will periodically as circumstances evolve is important too.
Will writing in Singapore may appear straightforward, involving the simple act of stating beneficiaries and their corresponding shares. However, the intricacies of Estate Planning require expert guidance to navigate potential pitfalls effectively. Engaging the services of an
Estate & Succession Practitioner ensures access to knowledgeable professionals capable of answering questions, providing advice, and offering personalised recommendations.
At Precepts, we have a team of experienced Estate & Succession Practitioner (ESP) who can guide individuals through the process of creating a Will. By availing our will writing services, clients gain access to invaluable expertise and support, guaranteeing peace of mind in their Estate Planning endeavours.
Your Precepts Will will be crafted as a collation of your instructions and wishes. A document that outlines your intentions.
We have the expertise in drafting Wills but also administering your estate. Should you be no longer around, we ensure that the instructions in your Will will be administered as your sole or substitute Executor.
Book a consultation with us by filling in the Contact Us form today.
We are dedicated to provide comprehensive planning and solutions for wealth distribution, wealth succession, estate administration for individuals and families.
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