THE IMPORTANCE OF MAKING A WILL AND HOW TO GET STARTED
Making a will ensures that your assets are distributed according to your wishes and helps prevent unnecessary disputes among your loved ones. This guide explains why having a will is important, what it should include, and how you can get started.
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What is a Will?
A will—also known as a last will and testament—is a legally binding document that outlines how a person’s assets, property, and responsibilities should be handled after their death. It allows you to decide who inherits your estate and how it should be distributed.
A will can also include instructions on the guardianship of minor children and other personal wishes. You may appoint an executor to ensure your instructions are carried out. In Singapore, wills are governed under the Wills Act, which outlines the legal requirements for a will to be valid.
Is It Necessary to Write a Will?
While not legally required, writing a will is a crucial step in estate planning. It ensures your intentions are clearly documented and legally recognised—minimising uncertainty and potential disputes.
This is especially important if you have dependents, such as young children, elderly parents, or loved ones with special needs, as a will allows you to make proper arrangements for their care and financial support.
Why Writing a Will Matters: 5 Key Reasons
You Decide How Your Assets Are Distributed
Without a will, your estate will be distributed according to the Intestate Succession Act—unless you’re a Muslim, in which case Muslim inheritance laws under the Syariah Court will apply. With a will, you have full control over who receives your assets, including the option to leave part of your estate to charities or non-family members.You Can Appoint a Guardian for Your Children
If both parents pass away unexpectedly, a will allows you to name a legal guardian for your minor children—someone you trust to provide continued care and stability. Without this, the Court will decide who takes over, which may not align with your wishes.You Choose Your Executor(s)
A will lets you appoint one or more executors to manage your estate and carry out your instructions. This ensures that someone you trust is handling your affairs. If there’s no will, the Court will appoint an administrator—often the next-of-kin—who may not be your preferred choice.You Can Specify Funeral Arrangements
A will can include instructions for your funeral or final rites, whether based on personal preferences or religious beliefs. This helps your loved ones make arrangements with confidence, knowing they’re fulfilling your wishes.You Minimise Family Disputes
Clear instructions in a will reduce the chances of misunderstandings or disagreements among family members. This allows your loved ones to focus on grieving and healing, rather than managing conflict.
What’s Included in My Estate?
Your estate is made up of everything you own (and owe) at the time of your passing.
This includes:
- Property: HDB flats, private properties, and other real estate you own
- Investments: Shares, unit trusts, fixed deposits, and bank accounts
- Liabilities: Outstanding debts, loans, or hire-purchase agreements
- Personal belongings: Jewellery, luxury watches, collectibles, antiques, and other valuables
- Other assets: Life insurance policies (if payable to your estate) and business interests or partnership agreements
All of these form part of your estate and can be addressed in your will—unless they’re explicitly excluded (e.g. CPF savings or assets held in trust).
Key Appointments in a Will
When writing your will, you’ll need to make several important appointments to ensure your wishes are carried out effectively:
Executor(s)
You can appoint a primary executor and also name substitute executors in case the primary executor is unable or unwilling to act. Executors can also be beneficiaries of your will.Beneficiaries
List your main beneficiaries clearly, and consider naming substitute beneficiaries in case your original choices are no longer able to inherit. This helps minimise the need to update your will frequently.Guardian(s)
If you have minor children, you can appoint a legal guardian to care for them in the event both parents pass away. This ensures continuity of care in accordance with your wishes.
Making Your Will
You can write your will with the help of:
- A lawyer from a law firm, or
- A specialised will writing company
While both are valid options, legal fees and services may differ—lawyers may charge more, especially for complex estates, while will writing firms often offer more affordable packages for standard needs.
Legal Requirements for a Valid Will in Singapore
To be legally recognised, a will must meet the following conditions:
- You must be at least 21 years old
- You must be of sound mind
- The will must be signed by you in the presence of at least two witnesses
- These two witnesses must also sign the will in your presence, and must not be beneficiaries or spouses of beneficiaries
What Is a Schedule of Assets?
A Schedule of Assets is a supporting document that lists all the assets and liabilities in your estate, including their estimated value.
This includes:
- Properties
- Bank accounts
- Investments
- Loans or debts
- Business interests
While it’s not required to be part of the will, including it can significantly ease the probate process. If the schedule isn’t provided, your executor will need to compile one—often with help from a probate lawyer—which can take time and incur extra costs.
Tip: Review and update your Schedule of Assets regularly, especially after significant life or financial changes. Keeping it up-to-date ensures your executor has a clear overview of your estate and can avoid delays when submitting documents to the court.
Key Points to Take Note of
CPF Monies Are Not Covered by Your Will
Your CPF savings do not form part of your estate and cannot be distributed through a will. To ensure these funds go to your intended recipients, you must make a CPF nomination separately via the CPF website.Wills Are Revoked Upon Marriage
If you made a will while single, it will be automatically revoked when you get married. However, this does not apply to divorce—your existing will remains valid even after a divorce. It’s important to review and update your will after major life events to ensure your distribution preferences remain accurate.Joint Accounts and the Right of Survivorship
In joint bank accounts, the surviving account holder typically inherits all the funds. However, if a legal dispute arises, courts may examine the true intentions of the deceased account holder—making the process more complex than it appears.
Final Thoughts
Creating a will is a thoughtful and responsible step in estate planning. It gives you control over how your assets are distributed, ensures care for your dependents, and reduces the chances of family disputes. More importantly, it provides peace of mind—for you and your loved ones.