Contrary to popular belief, the government does not automatically claim your assets if you pass away without a will. If an individual passes away without a will and has no surviving next-of-kin, the government has a claim to their assets.
If you’re curious about the consequences of someone passing away without a valid will (intestate), this blog provides the necessary insights you need to know. For a more detailed understanding tailored to your specific situation, don’t hesitate to consult with an experienced lawyer from Bethel Chambers.
The Intestate Succession Act in Singapore
If an individual passes away in Singapore without a legally recognized will, they are considered to have died “intestate.” In such cases, the rules outlined in Section 7 of the Intestate Succession Act come into play, determining the distribution of the deceased’s estate according to the laws of intestate succession.
In the absence of a valid will, the state takes charge of deciding key aspects such as the administrator for the estate, the beneficiaries, and the respective percentages of asset distribution. As per the Intestate Succession Act, the deceased’s family members are entitled to inherit the assets in proportions specified by the law.
- Surviving Spouse Only: The surviving spouse inherits the entire estate if there is no surviving parent or child.
- Surviving Spouse & Children: If survived by one child, the estate is divided equally between spouse and child. If survived by multiple children, the spouse receives half, and the remaining half is divided equally among the children.
- Surviving Spouse & Grandchild: If the children have passed away, the spouse gets half, and the grandchild gets the other half. If there is no surviving spouse and children but one grandchild, the grandchild inherits everything. If survived by multiple grandchildren, half of the share goes to the surviving spouse, and what’s left is split up accordingly to the grandchildren. In the absence of a spouse, the whole estate will be divided equally among the grandchildren.
- Surviving Spouse & Parent: If no children exist, the spouse and parents share the estate equally.
- Siblings: In the absence of a surviving spouse, parent, or child, the siblings inherit the estate. If the sibling is deceased, their children inherit the estate instead.
- Grandparent: Without a surviving spouse, parent, child, sibling, or their sibling’s children, the grandparents inherit the entire estate.
- Aunt or Uncle: If none of those mentioned above relatives exist, the aunt or uncle inherits the entire estate.
- Government of Singapore: If no surviving relatives exist, the government inherits the entire estate.
Without a will, the legal system determines the allocation of your assets, which may result in unjust and undesirable outcomes. Numerous instances have seen families and relatives fractured due to disputes over asset distribution.
Hence, it’s ideal to ensure your assets go to the right people by having a valid and up-to-date will. Consult with a legal professional to protect your wishes and avoid family conflicts.
Conclusion
Distributing assets without a will poses numerous practical challenges, as the law mandates that assets follow intestacy laws, irrespective of the individual’s intentions. It’s best to seek the services of a lawyer who can adeptly craft a will tailored to your specific requirements for more personalized and precise estate planning.
By enlisting legal expertise, you can navigate the complexities and nuances of estate planning to secure your assets in alignment with your unique wishes. The lawyers at Bethel Chambers can accommodate whatever your intended arrangements may be.
