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There are many reasons to make a Will.
Cost should be the last thing to stop you from making a Will today.
There is no census in Singapore to find out what percentage of people in Singapore has made a Will. But we believe that if you ask the persons on your left and on your right if they had made a Will, chances are : they have not. If you have not, that makes 3.
We believe that less than 40% of people in Singapore has made a Will. People tend to equate making a Will with dying.
Some people might feel that they are living from day to day and do not have much to leave to their loved ones. So why bother to make a Will ? [Read more…]
|It is believed that the Romans were possibly the first civilisation that developed the concept of Trust.|
But it was the English who developed the equitable principles of Trust laws that governs all modern and creative developments of Trust instruments. Instruments which sets up legal structures for investments, SPVs, business holdings and also tax protections.
Trust instruments are commonly used by citizens of countries where heavy estate duties are imposed on estates of deceased persons. In the US where the tax is levied on the beneficiaries, rather than the estate, they are known as inheritance tax.
Personal trust law was first developed in England during the Crusades, (12th to 13th centuries).
|A Knight is usually bestowed with lands by his King as rewards for his loyalty and services. When a Knight left England to fight in the Crusades, he would convey ownership of his lands to a friend or relative to manage his estate while he was gone.The expectation was that if he returns alive, then the ownership of the lands would be conveyed back to him. But when he did return to England alive, he faced resistance and outright refusal from his entrusted person to return and convey his lands back to him.|
The idea for developing a Web Portal which allows people to make a Simple Will online took root back in 2010 when a group of friends (among which, a lawyer) felt that many people were discouraged from making their Wills because of the legal fees charged by lawyers.
Or thought that these legal fees were prohibitive enough for them to delay in making their Last Will and Testament.
Many people tend to allow the hustle and bustle of their work commitments to distract them from taking care of their own things : be it their health, investments for their future or management of their own affairs generally.
Often, they allow their careers, their bosses, their clients and perhaps their sense of service to others to distract themselves from taking care of their own important matters.
Indeed, many were not prepared to face and address the eventuality of all human beings, that they may suddenly leave this world and their loved ones behind.
Some might feel that they are living from day to day and do not have much to leave to their loved ones : so why bother to make a Will, that it would be laughable.
But the idea of making a Will really serves much more than dealing with your own assets (however much or little). [Read more…]