Writing a Will is an important step. But a Will is not a catch-all document, and there are some very common situations where people discover, too late, that their Will did not do what they expected.
Joint assets bypass your Will entirely
If you own a property jointly with your spouse under joint tenancy, that property does not form part of your estate when you pass. It passes automatically to the surviving joint owner, regardless of what your Will says. This is called the right of survivorship.
This can work in your favour. But it can also create unintended outcomes, particularly in blended families, or where the surviving joint owner later remarries or changes their own Will.
CPF is not covered by your Will
Your CPF savings are governed by your CPF nomination, not your Will. Many people write detailed Wills assuming their CPF is included. It is not. If you have not made a CPF nomination, or if your nomination is outdated, your CPF may not reach the people you intended.
Insurance policies go to the named nominee
Life insurance policies with a named beneficiary also bypass your Will and your estate. The payout goes directly to whoever is named on the policy, which may or may not be the same as what your Will says. If your policy nominee is outdated, such as an ex-spouse or a deceased parent, this can cause significant complications.
Your Will can be challenged
A Will can be contested by family members who feel they have not been adequately provided for. Singapore law, specifically the Inheritance (Family Provision) Act, allows certain dependants to apply to court for a share of your estate even if they are not named in your Will. This does not mean your Will is useless, but it is a reason to ensure it is properly drafted and reflects your intentions clearly.
A Will written long ago may no longer reflect your life
People change. Families grow. Assets are acquired and disposed of. A Will written when you were 35 may not account for the property you bought at 45, the business you started at 50, or the grandchildren born since. Wills should be reviewed whenever your circumstances change significantly.
A Will is one piece of a larger puzzle. It works best when it sits alongside a current CPF nomination, up-to-date insurance beneficiary nominations, and an LPA. Together, these documents give a complete and accurate picture of your wishes.
Worth a closer look
If you are not sure whether your documents are working together the way you intend, that is worth finding out sooner rather than later.
Worth a conversation