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Learn More About Wills & Succession Management
FAQ
It allows you to freely distribute your assets to designated beneficiaries. You can also appoint a trusted executor to handle the distribution process. In the unfortunate event that both you and your spouse pass away together, a will allows you to appoint a guardian you trust to care for your children.
A will helps reduce legal procedures, saving both time and costs. Additionally, if there are any changes after the will is made, you can amend or revoke it.
Your estate will be distributed according to the Distribution Act 1958. However, an application must first be made to the court to appoint an administrator before the distribution process can begin. These procedures are time-consuming and will incur additional legal costs.
Yes. If you do not have a will and have not restructured your estate plan, your ex-husband or ex-wife may still be entitled to a portion of your estate under the law.
No. Minor children cannot directly inherit assets. Legal procedures must be followed to set up a trust or appoint a guardian to manage the inheritance, which may affect their access to financial support and daily needs.
Yes. If your spouse is a foreign national, the process of transferring assets may become more complex due to differences in laws and administrative procedures between countries.
If there is no arrangement for the transfer of your shares, it could lead to confusion among shareholders and even disrupt business operations. A will ensures your business interests are properly managed and protected.
If there is an outstanding mortgage on the property, the inheritance process becomes more complicated. Your heirs must be assessed for their ability to take over the loan; otherwise, the property may not be transferable or could be repossessed by the bank.
