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Investment and Savings
The Joint Investment Account will remain as it is. Should you wish for your child to take over the portfolio when he is above 18 years old, he would need to set up his own personal investment portfolio. You will have to redeem the joint investment portfolio. The proceeds will have to be invested into your child’s personal investment portfolio.
Investment and Savings
Upon death of either party, the surviving party will need to provide us with the death certificate. If the surviving party is a minor, the legal guardian of the minor is required to provide his NRIC, death certificate and power of attorney. If the surviving minor does not have a legal guardian, he will not have access to the investment holdings until he turns 18 years old.
To keep the investment, the surviving party will be required to open a new investment account. The assets are then transferred to the new investment account.
To sell off the investments, there is no need to open a new investment account. The joint investment account will be turned into the estate of the deceased and subsequently sold off under the instruction of the surviving party.
The surviving party or legal guardian of the surviving minor shall indemnify us and iFAST in respect of any claim which may be made against as a result of complying with the surviving person or legal guardian’s instructions.
Investment and Savings
Investment and Savings
Please note that you will not be able to perform cash account transfers out of your Joint Investment Account. Please email inv_ops@moneyowl.com.sg if you wish to perform cash account transfers into your Joint Investment Account.
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For more information, please visit our microsite here.
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For more information, please visit our microsite here.