Why Should I Draft a Will

Here are 5 Reasons Why You Should Make a Will!

Reason 1: You have control over how your assets are distributed

If you pass on without a Will, the Intestate Succession Act will determine how your assets are to be distributed. If there is no Will in place, according to the Rules of Intestacy ¹, your Estate may be inherited by someone unintended contrary to your wishes. This means that in the event of your death, you will have no control over the allocation process and certain loved ones whom you wish to provide for may not be beneficiaries of your estate, potentially leading to family strife. Having a valid Will, a crucial legal document, means that you have the complete element of control over how your assets are to be distributed. You can also even include the little things like family heirlooms and sentimental possessions that are important and precious to you.

For example,

Janet, who is 30 this year and married with a young child, has been financially supporting her aged parents and wishes to provide for them should anything happen to her and they outlive her. Under the Intestate Succession Act, her spouse will receive half of her estate while her child will receive the other half. If Janet wishes to provide for her parents, she should draft a Will so that she can choose to leave a portion of her estate to her parents.

Janet and her husband may also make Mirror Wills if they hold assets such as their family home jointly. Mirror Wills allow Janet and her husband to leave their home to their child no matter which parent passes on first. Where a property is held jointly, the rule of survivorship states that the surviving owner(s) shall inherit the deceased’s share of the property. If Janet passes first having made a Mirror Will, the property will be owned solely by her husband, who will then pass the property to the child upon his death.

Reason 2: You can make provisions for your underaged children

Parents naturally fret over their children’s well-being in the event of significant life changes, like the sudden loss of a parent. Many parents stress over their children’s future if they were to unexpectedly pass away. In your last Will, you can make provisions for such a scenario by appointing a legal guardian, for example a surviving parent or a trusted friend, to care for your children should you suddenly pass on. This person can act jointly with your surviving spouse if he or she does not object, and will care for your minor children, including foster children, until they turn 21. You can also make your wishes known through a Will, rather than leaving the decision to the family courts who may choose a person you wouldn’t originally agree with if you were alive. This is a crucial reason why you should make a Will.

Reason 3: You can set out your wishes with respect to funeral rites

In your Will, you may also state your final wishes relating to your last rites, such as the type of funeral you wish to have, the location of your funeral as well as the total duration. You may also state your wishes with respect to the handling of your ashes, such as whether you would prefer them to be kept in a columbarium or scattered in the sea.

Reason 4: You can simplify the administration process for your estate

Another important reason on why you should make a Will is, if you pass on without a Will, the process for distributing your assets is different from if you had a Will. If you don’t have a Will, your next-of-kin will need to apply to the courts for a Grant of Letters of Administration (instead of a Grant of Probate). This process is lengthier and more expensive than if you went through the Probate process instead by having a Will drafted initially. This process causes unnecessary delays which can sometimes take up to a year or more! A longer process is more stressful for your family members and loved ones in an already emotional time, as your assets would likely be frozen during the application process, and this would be especially difficult if your income and savings is necessary to support your loved ones who depend on you.

Reason 5: You can do it from the comfort of your own home affordably

Drafting a will is an essential step in ensuring that your wishes are carried out and your loved ones are provided for after you’re gone. By creating a will, you gain control over how your assets are distributed, who will care for your minor children, and other important decisions. It offers peace of mind knowing that your family’s future is protected and your wishes are documented. Don’t wait until it’s too late. Start planning for the future today by drafting your will with WillCraft. WillCraft stands as your go-to solution for drafting Wills conveniently and affordably. This means that you can now have your Will drafted from the comfort of your own home and be able to draft your Will in your own time and space!

If you have all the information on hand, you will only need 30 minutes to draft your Will and you can even save your write up at any time and come back later. We even provide expert advice and prompts as you go along while drafting your Will with us. What’s more, WillCraft also gives you the option of having your Will reviewed and witnessed by our own lawyers for an additional flat fee of just S$79 ², if you desire that extra peace of mind.

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Frequently Asked Questions

Why is a Will important in Singapore?

Having a Will in Singapore is important to ensure that your assets are distributed according to your wishes after your passing. A Will allows you to specify how you want your property and possessions to be divided among your beneficiaries, reducing potential conflicts and ensuring that your loved ones are taken care of. In Singapore, if you pass away without a Will, the distribution of your assets will be governed by the Intestate Succession Act, which may not align with your preferences. By creating a Will, you have the opportunity to outline your exact wishes and provide clarity on how your estate should be managed upon your death. It is advisable to seek legal advice when drafting a Will to ensure that it is valid and accurately reflects your intentions.