Will, Distribution of Deceased Property, Die, Testate, Intestate, Grant of Probate, letter of administration, estate planning

Distributing a Deceased's Property


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Distributing a Deceased's Property



With a Will, how is the deceased's property distributed?

It will be distributed according to the will.

Without a Will, how is the deceased's property distributed?

Without a Will, the Law will decide on who shall inherit the assets as follows:-


Surviving Parties Manner of Distribution
Spouse only Spouse is entitled to whole of the deceased's property
Parents only Parents are entitled to whole of the deceased's property
Issues only Issues are entitled to whole of the deceased's property
Spouse and Parents only Spouse (1/2 share) & Parents (1/2 share)
Spouse and Issues only Spouse (1/3 share) & Issues (2/3 share)
Parents and Issues only Parents (1/3 share) & Issues (2/3 share)
All Spouse, Parents & Issues Spouse (1/4 share), Parents (1/4 share), Issues (1/2)

Note: Issues refer to children and grandchildren.

How can family members or lawful beneficiaries inherit deceased's property?

If a person dies with a Will, engage a lawyer to apply grant of Probate from the High Court
If a person dies without a Will, engage a lawyer to apply for Letter of Administration (LA) from the High Court or a distribution order from the Land Office.

How long will the application take?

The actual time needed may vary in each and every single case depending on the following factors: 1. The date of hearing granted by the court (whether it is early or late) 2. The complexity of the case.
Generally, application of probate takes about 6 - 9 months to be completed, whereas application of Letter of Administration takes 9 - 12 months.

Why should the estate be distributed as soon as possible?

1. To make sure that all the lawful beneficiaries enjoy the estate soonest possible.
2. To minimize the risk where one or more beneficiaries pass away and make the administration process more complicated and lengthy.
3. To simplify the process of administration and save the cost of administration.
4. To avoid the savings/EPF of the deceased from being transferred to Registrar of Unclaimed Monies.

For Further Information & Inquiries

Please obtain legal advice or Consult Our Panel Lawyers.






 


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