Nothing in this world is certain except death and taxes. Although, we can learn to tackle our tax liabilities effectively over time, there is no room for personal damage control with the former. However, the legacy we leave behind is something we build in our lifetime that can endure even generations after we depart the world.

Singaporeans have a hard enough time bearing egregious living costs and juggling home loan repayments, education loans, business loans, etc. to make ends meet that they completely overlook the financial consequences of death. It’s not just life insurance one needs to worry about, but a variety of factors that could either lead to a handsome fortune for your loved ones or a truckload of liabilities.

Whether your spiritual karma meter entitles you to a place in heaven or not, it is essential to understand the gravity of financial situations that can occur in the ...