Estate Planning

My wife works for an American bank and we recently transferred from HK to Singapore. This is our 4th move in the region and everytime the relocation package includes an allowance for a set of wills. Unfortunately, we are always in a hurry and as yet haven't taken advantage of this company benefit, but as our family and property have expanded it's become more important. Does anyone know a licensed American attorney in Singapore that could handle this type of matter?


Please, no one suggest a will kit. We live in Singapore but have property and funds in multiple countries outside the US and know it is more complicated than that.

If you were to die, where would you want your will to be probated? The answer to that question probably also tells you the jurisdiction where you should hire an attorney. It sounds like you need someone with significant experience. With the internet, a lot can be done via long distance. You probably also need a durable power of attorney and a poa for health care decisions. And as a practical matter make sure your representatives know exactly where all your property and bank accounts are located and can access it.

As the previous reader mentioned, the most important first step is to make an accurate inventory containing all of your assets, their nature, and their locations. Armed with such an inventory and an understanding of yours and your wife’s wishes for its distribution, a valid set of wills might be constructed with little difficulty. However, the potential challenge in the situation you described is that your assets are located in multiple countries.


Every country in which you have an asset located has a vested interest in the administration of that asset(s), and many jurisdictions place restrictions or even prohibitions on the probate of foreign wills. If you don’t have a will or your will is denied probate your assets will be distributed by the particular laws of intestacy for the country where they are situated and it is unlikely that these will match your own aims. Inheritance tax requirements also vary by country. At the minimum, this means that a little diligence is required from either yourself or your attorney to determine the probate and tax rules of the relevant jurisdictions. Consultation with local attorneys may be required and you may find that you need a number local instruments linked together by a master.


Also, you indicated that you have moved around the region a number of times. You may have pension schemes and insurance policies leftover in some of the countries you have lived in. As these assets may be dispersed outside of probate it is important that you make it a point to keep beneficiary information up to date as your personal situation changes.


Finally, while you’re thinking about your estate, you might consider spending some time thinking about how you can better protect your assets during your lifetime, not just after your death. Most people wouldn’t dream of owning a home or a car without taking out the corresponding insurance, but it is an unfortunate fact of life that you are many times more likely to be sued than be injured in an automobile accident or lose your home to fire. Family limited partnerships, corporations, and trusts, particularly offshore ones, are all potential avenues that help protect assets from unwanted creditors. The proper use of these entities might also eliminate some of the uncertainty of probate and estate taxation mentioned above.


If you have any additional questions contact us at: Info@OverseasLaw.com