A will costs about $280 which is a reasonable price. This helps to ensure your loved ones get what they deserve according to your wishes. Do remember to inform and appoint an executor to carry out your will accordingly, including how your funeral and after funeral aspects should be handled.
If one passes on with a valid will and has appointed an executor, he/ she will validly dispose the assets of the deceased within Singapore. In this instance, the estate goest into “Probate”. A Grant of Probate is a court order officially recognising and giving powers to the executor to carry out the duties. This is essential because financial institutions and authorities require it before allowing closure of accounts or transfer of ownership of assets.
If one does not have a will or if the will is invalid, the spouse or next-of-kin of the deceased will be appointed as administrator(s). This process is called the Grant of Letters of Administration which is a count order officially recognising and giving powers to the next-of-kin to carry out the duties.