PROBATE IN SINGAPORE
In Singapore if a person passes away with a Will, the executor of the Will may take out an application and apply for a Grant of Probate.
If no Will was written then the next of kin of the person will have to apply to the Singapore Courts for a Letters of Administration.
Distribution Of Assets
GRANT OF PROBATE
The Executor(s) must produce the original copy of the Will.
The deceased person’s assets will be distributed according to his/her wishes in accordance with their Will.
LETTERS OF ADMINISTRATION
If there is no Will, the distribution of the deceased person’s assets will follow the Intestate Succession Act.
Typically the spouse will be awarded 50% of the assets and the children will be awarded the remaining 50% of the assets.
Application Of Probate In Singapore
The three stages to filing a probate application in Singapore.
1. Filing the Originating Summons & Supporting Documents such as the Statement, Certified True Copy of the Death Certificate, the Administration Oath, a Certified True Copy of the Will, Consent of a Co-Administrator, Inheritance Certificate and other relevant documents.
2. Filing the Supporting Affidavits and Schedule of Assets.
3.Sureties, If there is a need for Sureties (for minors)m an Affidavit of Justification must be filed so that an Administration Bond can be obtained and extracted.
If the beneficiaries wish, they may choose to inform the Singapore Court that they wish to dispense with the need of Sureties through the filing of an affidavit. If this is allowed there will be an Order of Court.
Finally, once all the required documents and affidavits has been filed and complied with, you will receive the Grant of Probate or Letter of Administration.
The process of obtaining the Grant of Probate or Letter of Administration generally takes between 4 to 6 weeks.
Should I Write A Will
It is important to write a Will regardless of which stage of life you are in or what assets you own.
Also you should review your Will at milestones in your life such as when you have gotten married/divorced, when you have children.
The benefit of having a Will is so that it prevents generally any dispute when it comes to the distribution of your assets.
The general cost of a simple Will will amount to about S$150.00 and will take about 1 to 3 working days to do.