Written by Wilfred Ling Tuesday, 07 June 2011
Question: “My main obstacle for not wanting to write a Will is this : Will there be maintenance and upkeeing fees involved in making a meaningful will?”
The on-going “maintenance” is to find a safe place to store the Will. More importantly it has to be safe and easily tracked by surviving family members. Most people put it at home but ends up losing it and cannot be located by family members. The solution is to outsource the custody to third parties to hold in custody. The address of the location in which the Will is stored is then transmitted to the Wills Registry. When the individual dies, family members only need ask the Wills Registry to trace the location of the Will.
The cost of custody service is annual renewable fee. The annual cost is cheaper than your …