Personal Finance
Question on Will writing obstacle V (procrastination)
By Wilfred Ling, The IFA on Duty  •  May 31, 2011
Written by Wilfred Ling Tuesday, 31 May 2011 Bookmark and Share Question: “I am not writing my Will because of procrastination... probably due to failure to see the urgency.” (By a married individual with no children) Answer: For your case you are married with no children. Under the Intestate Succession Act, your personal assets go to 50% to your spouse and 50% to your parents. Conversely, since your husband does not have a Will 50% of his assets go to you and the other 50% to his parents. Likely what will happen is that if you die, your parents will make your husband life very hard and demand him to forfeit his inheritance. The converse is also true. I have seen a real case in which a widow, aged 30 something (with no children) was forced to give up her rightful share of her husband estate because her in-laws accused her ......
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By Wilfred Ling, The IFA on Duty
Wilfred Ling is a Chartered Financial Consultant with Promiseland Independent Pte Ltd. He is a fee-based financial planner by profession.
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