If you write a Will, you have a document that allows your love ones to have a better process of gaining access to your estate.
When a person passed away in Singapore, his possession became his estate.
The estate could include the following:
Bank accounts Property Personal Effects InvestmentsThe estate needs to be distribute to the beneficiaries. However, the beneficiaries need a Court Oder that gives authority to close the bank accounts, cash in the investments and sell or transfer the property, pay off the deceased’s debts and then distribute what is left of the estate to the beneficiaries.
If the deceased has a will then a Grant of Probate is issued to the Executor in the will. The executor will collect the asset and distribute the assets to the beneficiaries. The beneficiaries cannot replace the executor.
If the deceased do not have a will than it will
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