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Wills and Parenthood: These two are things that should go closely together, however, they are rarely spoken of in the same sentence.
If you have children, the consequences of not having a Will may be dire. If you are or know someone who is a single parent, divorced, currently married, or remarried, this article is for you as it sheds some light on how not having a will may affect whether and how your loved ones are provided for.
Death is a taboo topic in Singapore. While we may shy away from such conversations, the importance of such a conversation cannot be understated.
The truth is, if you talk about and plan for the eventuality of death, you can help your loved ones mentally and emotionally prepare for it and be able to understand how better to distribute your assets to provide for your beneficiaries when drafting your Will.
Conversations about Death: as a Parent.
As a parent, what the future should hold for our children if something untoward happens to us is a continual source of concern.
If, as a parent, you do not have a Will, the welfare of your child after your death may be quite uncertain. If you do not have a valid Will, the distribution of your assets will be in accordance with the Intestate Succession Act, including any real estate you may own. If you pass on leaving your spouse and children, 50% of your assets will go to your spouse (the surviving parent), and the other 50% will go to your children in equal portions, including any life insurance policies you may have.
It is important to note that a valid Will is a crucial legal document that contains your instructions on who will inherit your assets and how they will be distributed after your death, including through financial institutions, in accordance with the terms of your Will.
As a parent, having a valid Will as part of your estate planning is essential for ensuring the well-being of your children and their inheritance, especially if you want to have control on who gets what portion of your assets upon your demise.
Want to know more about the Intestate Succession Act and the rules for distribution under intestacy laws? We discuss all of it in our Probate or Letters of Administration - A “What Do I Do” Guide article here [Infographic included]. Furthermore, to provide a visual breakdown, we’ve included diagrams illustrating the “seven priorities”, outlined in the Intestate Succession Act for an easier understanding.
This may sound fine, but what if one of your children requires more attention and more resources than the other? Or, what if it makes more sense for everything to go to your spouse first, since your children are still young? Without a Will, this is beyond your control.
If both you and your spouse pass without a Will leaving only your children, your child may be left without an immediate guardian. The court is left to appoint a guardian for your child, who will have significant influence over your child’s upbringing, well-being, and the administration of their property. This appointment may not be in line with your wishes, making it even more important for parents to have a Will in place.
As a parent, it is crucial to have conversations about death and consider the future of your child by appointing a trusted individual as their legal guardian in your Will, to ensure their well-being and protection in the event of your passing. This decision is not only about the distribution of assets, but also about the child’s upbringing and overall well-being.
It is therefore advisable for parents to have a Will drafted to ensure that your child will be provided for.
In particular, for new parents, consider appointing a trusted individual as the legal guardian in your Will to ensure your child’s care and protection.
Parents with young children should take into account the following when drafting their Will:
- The testamentary guardian appointed in your Will should be someone whom you can trust to take care of your children until they turn 21 years of age.
- The appointed guardian, whether through a testamentary guardianship or a court-appointed guardianship, will also hold your child’s assets for them until they turn 21 years of age, and the Guardianship of Infants Act regulates what the guardian may do with your child’s property.
Conversations about death can be difficult, but as a parent, it is important to have these discussions and appoint your child’s guardian in your Will to ensure their well-being and protection in the event of your passing. It is also important to consider establishing a trust for your minor children through proper estate planning, so that an adult can manage their inheritance and ensure their financial stability.
To learn more about testamentary guardianship, including who can be appointed, their responsibilities and duties, and discussions on joint guardianship, explore our comprehensive article here to find out more.
Conversations about Death: Remarrying with Children.
If you are divorced, have children from that previous marriage and are thinking about remarrying or have just remarried, then you should note that getting married will revoke Wills which you had previously drawn up under the Wills Act. This means that if you had a Will drawn up prior to getting remarried, that Will no longer has legal effect if you pass on suddenly.
Without a Will, the Intestate Succession Act will take effect. As above, if you pass on leaving your new spouse and children, 50% of your assets will go to your new spouse, and the remaining 50% will go to your children. It must be noted that ‘children’ refers to legitimate and adopted children 1. Step-children which have not been adopted and those born out of wedlock may not inherit their portion of the half of your assets which supposedly goes to all your other children. The Administrator of the deceased’s estate must also follow the Rules of Inheritance, specifically Section 7 of the Intestate Succession Act, which prescribes how the deceased’s estate will be distributed to the survivors.
If you are marrying or have married someone who has children, the children would not be entitled to your estate unless you adopt them. You would have to formally adopt the children by virtue of an order of court if you wish to leave your estate to the children. Or, if you want to avoid the cost and hassle of a formal adoption, you could have your Will drafted with WillCraft from only S$99 2 and have full control over the distribution of your estate. Learn more about our services here.
Conversations about Death: as a Single Parent (or if you have children out of wedlock)
If you’re a single parent and your child was born out of wedlock, then you most definitely should think about writing a Will. If you don’t have a Will, your estate will be distributed in accordance with the Intestate Succession Act.
In the Intestate Succession Act, a “child” is defined as a legitimate child or one adopted by virtue of an order of court. Since this definition does not have illegitimate children, does this mean that illegitimate children are not entitled to receive a share in your assets upon your death unless there is a Will?
“Well, maybe”.
Section 10 of the Legitimacy Act, provides that an illegitimate child will receive a share of his or her biological mother’s inheritance upon her death only if the biological mother does not have any surviving legitimate children. This essentially means that the illegitimate child is last in the pecking order where the priority of distribution of assets is concerned.
This may mean that unless the child is legitimised by marrying the other biological parent, or if you formally adopt the child which terminates the rights of the other biological parent or if you have a Will drafted, that child may not get an inheritance.
To find out more about the formal adoption process, you may visit the Ministry of Social and Family Development (MSF) website.
Conversations about Death: Parents with young or needy Children.
If you have young or needy children, there’s an additional consideration. Ensuring their ongoing care and provision is undoubtedly a top priority. If you pass away without a valid Will, your assets could be frozen for an extended period. This freeze may include joint bank accounts, resulting in delays until the grant of Letters of Administration is secured. Not only is this process time-consuming, but it can also be costly, with expenses covered by your estate.
In view of the above, parents as natural guardians of your children, should have a Will drafted. This would safeguard and provide for your loved ones in the event of your passing.
No time for multiple visits to a lawyer? Don’t worry, WillCraft offers an online Will drafting service starting from just S$99 3. Draft your Will in under 30 minutes from the comfort of your home with our user-friendly platform that guides you through the entire process, providing you with tips and prompts along the way.
If you require more time to consider your Will, WillCraft is the ideal solution. Our platform allows you to save your progress and revisit it later, eliminating the need to complete your Will in a single session.
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Footnotes
Frequently Asked Questions
Why is it important for parents to have a Will in place?
As parents, having a Will is crucial to designate guardianship for your children in case of unexpected events, ensuring their care and well-being. It also allows you to specify how your assets will be distributed, providing financial security for your family and avoiding legal disputes.
My wife is expecting. Should I do a Will?
There's never a wrong time to draft a Will. Writing one as soon as possible, particularly after having children, ensures that your wishes for their care and provision are clear in the event of your or your partner's death.
How can parents ensure that their children are taken care of according to their wishes outlined in the Will?
Parents can ensure that their children are taken care of according to their wishes outlined in the Will by following these steps:
1. Create a clear and detailed Will: Specify your chosen legal guardian and any specific care instructions for your children in your will.
2. Choose a reliable executor: Select a trustworthy executor to ensure your will specifies the legal guardian and care instructions for your children.
3. Communicate your wishes: Ensure your chosen guardians, family, and executor understand your desired care for your children by clearly communicating your wishes.
4. Update your Will as needed: Regularly review and update your Will to reflect any changes in your family situation or preferences.
5. Lawyer review: Consider having a lawyer review and witness your Will for added assurance.
Create your Will with WillCraft today! Our platform offers a cost-effective, convenient, and swift solution, allowing you to draft your Will in under 30 minutes from the comfort of your home. Additionally, you have the option to have our experienced lawyers review and witness your Will for added peace of mind.
What happens if parents pass away without a Will in Singapore?
If parents pass away without a Will, their assets and estate will be distributed according to the intestacy laws of Singapore. Intestacy laws dictate how assets are distributed among surviving family members, such as spouses, children, parents, or siblings. The distribution typically follows a specific order of priority set by intestacy laws in Singapore. It's important to note that without a Will, the deceased parents' wishes regarding their estate may not be honoured, and the distribution may not align with what they would have wanted. To avoid uncertainties and ensure your assets are distributed according to your preferences, it is recommended to create a Will or estate plan with WillCraft today!