In the case of such simultaneous death, the court will deem that the older person would have passed away first and left it to the younger person. The distribution of assets will hence follow the will (if available) of the younger person. If the will specified the children as beneficiaries then it will be passed to the children. However the child must be able to inherit the property, i.e. age 21 and above and does not own a HDB flat. Otherwise the executor will hang on to the property and manage it the best way possible – either hold on till child is old enough to inherit or sell it away and split the proceeds.

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.