Wills

The following assets cannot be distributed via a will:

  1. CPF balances will be distributed according to your CPF Nomination if you have made one. If you do not make a CPF nomination, your money will be paid to the Public Trustee in Singapore, who will pay it out in accordance with the Intestate Succession Act. Read more on the CPF website and download the form here https://www.cpf.gov.sg/Members/Schemes/schemes/other-matters/cpf-nomination-scheme
  2. Proceeds of insurance policies will go to the beneficiaries nominated in the insurance policies. If you do not make a nomination, the proceeds will form part of your estate to be distributed according to your will or if no will is done, it will be distributed in accordance with the Intestate Succession Act.
  3. Property under Joint Tenancy – the property will be passed over to the survivor joint tenant. For example, if you own a property as joint tenants with your spouse, in the event that you pass on, your spouse will inherit the property wholly. For real-estate properties that are held as joint tenants, these properties cannot be passed on through the operation of a will.
  4. Generally-speaking, the assets in joint-bank accounts and joint-stock brokerage accounts would also be payable to the surviving account holder. However, due to different clauses with regards to these accounts, in some cases, these assets may form part of the estate to be distributed according to your will or the Intestate Succession Act.

Can't find what you are looking for?

Leave a message with your question and we’ll get back to you!

MoneyOwl to wind down all commercial activities

MoneyOwl is winding down its financial advisory business and all commercial activities will cease by December 31, 2023. 

For more information, please visit our microsite here.

MoneyOwl to be acquired by Temasek Trust

MoneyOwl announced on November 28, 2023, that Temasek Trust has signed an Expression of Interest to acquire MoneyOwl and re-purpose it under a new model. 

For more information, please visit our microsite here.