Do you have a Will?

[MeloDEE]

Attended and am still attending a uncle's wake these few days and in the midst of the grieving and mourning for my uncle, we started to worry about the well-being for the loved ones that he has left behind (his wife and two children) - whether they will be able to cope with his death, and most importantly, financially will they be able to tie through this period as he is the sole bread winner. He leaves behind an apartment, a car (only his wife whom is my aunt is able to drive in the family now that he has left), and she does not have a clue if he has any savings, she has never interfered with the financial part. As for herself, she does not have much savings. My uncle did not leave a will behind.

 

In this case, everything will go to the wife am I right to say?

 

My thoughts in this.. What happens if you do not have a will and there is a dispute? Who are the ones who are legally able to inherit all that is left behind? What happens to debts if any?

 

Who needs a will? Is a will only for the rich or anyone with kids? Is making a will a taboo?

 

Read a case study while researching for info.

 

When John married Mary, he was 28 years old and owned an apartment (worth $600,000 that he bought with the help of $100,000 contributed by his father). His wife Mary also owned an apartment (worth $500,000 bought for her by her parents). One year after marriage, they had a daughter Susie.

Last year, John, Mary and Susie went to Phuket in Thailand for a holiday. They rented a car to drive around.

They were involved in an accident. Mary died on the spot. Susie died five hours later in the hospital. John died the next day. John and Mary did not have a will.

Under the law, Mary’s apartment passed to John and Susie. When Susie died, the apartment passed to John. When John died, Mary's apartment and John's apartment plus all other assets/cash belonging to Mary and John went to John’s parents, brothers and sisters. Mary’s family received nothing.

If John had died on the spot, Susie had died few hours later and Mary had died the next day, everything would have gone to Mary’s parents, brothers and sisters; John’s family would have received nothing.

We should not leave important things to chance.

 

[Strat]

i will be complicated if your uncle did not leave behind a will.

Although technically, all the assets he left behind belongs to your aunt, the banks and various government agency will need a will to transfer the assets to your aunt.

If there isn't any, you may need to get a lawyer to draft out a letter probate or administration.

 

in the meantime, if your aunt knows the pin number of your uncle ATM cards, it will be be good to withdraw the money via ATM.

Also your aunt should not inform the bank if she wants to do that, as once she inform the banks that your uncle has passed away, the banks will freeze all the accounts under him.

 

Hope it helps.

[Kusje]

No will means the money will be split between the wife and the children (if any).

 

Wife - 50%

Children - 50% (this 50% is to be split equally if there is more than one child)

[Ender]

If I'm not wrong, the creditors have the 1st cut of the deceased estate. Only what's left is divided among the family.

[MeloDEE]

i will be complicated if your uncle did not leave behind a will.

Although technically, all the assets he left behind belongs to your aunt, the banks and various government agency will need a will to transfer the assets to your aunt.

If there isn't any, you may need to get a lawyer to draft out a letter probate or administration.

 

in the meantime, if your aunt knows the pin number of your uncle ATM cards, it will be be good to withdraw the money via ATM.

Also your aunt should not inform the bank if she wants to do that, as once she inform the banks that your uncle has passed away, the banks will freeze all the accounts under him.

 

Hope it helps.

 

My mum told me my aunt does not know where he keeps all his money, I would suppose she probably does not know his pin numbers. We heard that as long as you produce the marriage certificate, and death certificate, it would be sufficient. Not sure how true is that.

[Porker]

Don't rely on hearsay. Consult a lawyer. You can read up Intestate Succession Act for more information.

[MeloDEE]

If I'm not wrong, the creditors have the 1st cut of the deceased estate. Only what's left is divided among the family.

 

This is under circumstances such as, no will left behind?

 

[Getzsfv]

Attended and am still attending a uncle's wake these few days and in the midst of the grieving and mourning for my uncle, we started to worry about the well-being for the loved ones that he has left behind (his wife and two children) - whether they will be able to cope with his death, and most importantly, financially will they be able to tie through this period as he is the sole bread winner. He leaves behind an apartment, a car (only his wife whom is my aunt is able to drive in the family now that he has left), and she does not have a clue if he has any savings, she has never interfered with the financial part. As for herself, she does not have much savings. My uncle did not leave a will behind.

 

In this case, everything will go to the wife am I right to say?

 

My thoughts in this.. What happens if you do not have a will and there is a dispute? Who are the ones who are legally able to inherit all that is left behind? What happens to debts if any?

 

Who needs a will? Is a will only for the rich or anyone with kids? Is making a will a taboo?

 

Read a case study while researching for info.

 

When John married Mary, he was 28 years old and owned an apartment (worth $600,000 that he bought with the help of $100,000 contributed by his father). His wife Mary also owned an apartment (worth $500,000 bought for her by her parents). One year after marriage, they had a daughter Susie.

Last year, John, Mary and Susie went to Phuket in Thailand for a holiday. They rented a car to drive around.

They were involved in an accident. Mary died on the spot. Susie died five hours later in the hospital. John died the next day. John and Mary did not have a will.

Under the law, Mary’s apartment passed to John and Susie. When Susie died, the apartment passed to John. When John died, Mary's apartment and John's apartment plus all other assets/cash belonging to Mary and John went to John’s parents, brothers and sisters. Mary’s family received nothing.if your un

If John had died on the spot, Susie had died few hours later and Mary had died the next day, everything would have gone to Mary’s parents, brothers and sisters; John’s family would have received nothing.

We should not leave important things to chance.

 

 

Normally, if your uncle has any creditor, there is will not be aware of his death, until a default in the installment plan occurs. Even if he defaulted one or two months, the creditors will not assume that your uncle has passed away. In the event any of the family members inform the creditors accordingly, they (creditors) will immediate file a caveat of the deceased estate. Please go consult a lawyer to settle all the deseased estate matters.

 

Hope the above helps.

[Dafansu]

If there's no will, we will follow the Intestate Succession Act Chapter 146 of the Statutes (shall not apply to Muslim)

 

 

Rules for distribution

7. In effecting such distribution the following rules shall be observed:<div class="prov1tbl" id="pr7-ta-." "="" style="margin-left: 0px; text-indent: 0px; margin-top: 0.1in; margin-bottom: 0.1in;">

Rule 1

If an intestate dies leaving a surviving spouse, no issue and no parent, the spouse shall be entitled to the whole of the estate.

Rule 2

If an intestate dies leaving a surviving spouse and issue, the spouse shall be entitled to one-half of the estate.

Rule 3

Subject to the rights of the surviving spouse, if any, the estate (both as to the undistributed portion and the reversionary interest) of an intestate who leaves issue shall be distributed by equal portions per stirpes to and amongst the children of the person dying intestate and such persons as legally represent those children, in case any of those children be then dead.

Proviso No. (1) — The persons who legally represent the children of an intestate are their descendants and not their next-of-kin.

Proviso No. (2) — Descendants of the intestate to the remotest degree stand in the place of their parent or other ancestor, and take according to their stocks the share which he or she would have taken.

Rule 4

If an intestate dies leaving a surviving spouse and no issue but a parent or parents, the spouse shall be entitled to one-half of the estate and the parent or parents to the other half of the estate.

Rule 5

If there are no descendants the parent or parents of the intestate shall take the estate, in equal portions if there be two parents, subject to the rights of the surviving spouse (if any) as provided in rule 4.

Rule 6

If there are no surviving spouse, descendants or parents, the brothers and sisters and children of deceased brothers or sisters of the intestate shall share the estate in equal portions between the brothers and sisters and the children of any deceased brother or sister shall take according to their stocks the share which he or she would have taken.

Rule 7

If there are no surviving spouse, descendants, parents, brothers and sisters or children of such brothers and sisters but grandparents of the intestate the grandparents shall take the whole of the estate in equal portions.

Rule 8

If there are no surviving spouse, descendants, parents, brothers and sisters or their children or grandparents but uncles and aunts of the intestate the uncles and aunts shall take the whole of the estate in equal portions.

Rule 9

In default of distribution under the foregoing rules the Government shall be entitled to the whole of the estate.

[Strat]

 

My mum told me my aunt does not know where he keeps all his money, I would suppose she probably does not know his pin numbers. We heard that as long as you produce the marriage certificate, and death certificate, it would be sufficient. Not sure how true is that.

 

no, banks don't rely on marriage cert and death cert as they will not know if there are any will drawn up before the person passed on.

They will only act upon the official documents draft out by the lawyers.

 

Get lawyer firm and they should be able to advise you the next course of action.