A Will (wasiat, 遺囑) is a legal document. Having a Will gives you absolute freedom to manage your property.
Why do you need a Will?
First and foremost, a carefully drafted Will gives you a general peace of mind and most importantly, it ensures a smooth transfer of property to your intended beneficiaries.
A Will allows you to protect your wishes and the interest of your loved ones by:
- Choosing the people you trust to be the executors of your Will
- Naming your beneficiaries
- Specifying what your beneficiaries will inherit (Example : property 1 goes to A, property 2 goes to B, etc)
- Minimise the risk of family disputes and potential stress to your loved ones
- Ensure your loved ones inherit your hard earned estate
- Appointing guardians and trustees for any children under the age of 18 years old
- Planning your funeral arrangements
- Preventing a third party to claim your estate
- Specifying how your properties are to be distributed
- You get to control who gets what and how much
What happens if you die without a Will?
- Your loved ones might not know where and how many property and assets that you own
- The intended beneficiary might not inherit all of your estate
- Your estate will be distributed according to the Distribution Act 1958
- You have no control over who will look after your children who are under 18 years old
- Your loved ones will have a difficult time determining and locating your property and assets
- The process of transferring the property and assets will take a longer time
In conclusion, making a Will creates certainty and save your family from worry at a time of emotional distress. We are happy to talk to you at any time and to help tailor-made your Will. Call 014-9508667 or 016-4770087 to schedule a free consultation.