Have you done your LPA? Will? AMD? Eulogy? Letter to self?

[Voodooman]

On 3/30/2023 at 9:11 AM, RadX said:

mine was FOC for whole process, as they had some offer

 

SATA did the whole process.

Mine also free, sponsored by my financial advisor. Haven't got around to do my Will..

By the way, the list of assets in any will is static.  Properties, equities and bonds parked with CDP/ SGX are easy to hunt down but others can be more complicated.

At the present moment, I keep a list, updated annually, sealed in an envelope and locked away in a drawer. Told my family of its whereabout. 

Any better way to deal with it?

[RadX]

On 3/30/2023 at 12:09 PM, Voodooman said:

Mine also free, sponsored by my financial advisor. Haven't got around to do my Will..

By the way, the list of assets in any will is static.  Properties, equities and bonds parked with CDP/ SGX are easy to hunt down but others can be more complicated.

At the present moment, I keep a list, updated annually, sealed in an envelope and locked away in a drawer. Told my family of its whereabout. 

Any better way to deal with it?

Pretty much there.  Annual updates.  If at all, 90% would be already declared and can be hunted down.

 

Do note that once you start to decumulate, then you also need to update.  If at all, ensure your execute is the main person kept up to date

[Freeder]

On 3/29/2023 at 10:53 PM, Fcw75 said:

Anyone done their LPA online at MSF website recently?

Which CI did you go?

Bro u OK? 😅

[Fcw75]

On 3/30/2023 at 12:35 PM, Freeder said:

Bro u OK? 😅

Ok now but after I see my mother, better to do in case got mental incapacity.

Edited March 30, 2023 by Fcw75

[Windwaver]

https://dollarsandsense.sg/what-is-lasting-power-of-attorney-lpa-and-why-all-singaporeans-should-make-one/

The importance and value of making a will is widely accepted and well-documented. In the same way, a Lasting Power Of Attorney is a logical component of a holistic estate planning process, complementing your existing will.

The importance and value of making a will are widely accepted and well-documented. We all understand that it makes sense to express your wishes when you’re still of sound mind and not under duress, so that your intent can be carried out when you’re no longer around.

However, what happens in the event something unfortunate were to befall you, but you’re not quite dead? Surely you would still want all your assets to be managed by a trusted party, who can also take steps to protect your portfolio’s value.

Your assets can then be used to sustain your treatment, or ensure your existing liabilities continue to be serviced, without having to trouble your loved ones. This is how a Lasting Power of Attorney (LPA) can be helpful in giving you peace of mind.

Here’s how a LPA works and how it can help you.

What Is A Lasting Power Of Attorney (LPA)?

A Lasting Power of Attorney (LPA) is a legally-binding document that empowers someone you trust to manage your financial affairs for you (including your assets) in the event you lose the ability to do so for yourself.

LPAs in Singapore are administered by the Office of the Public Guardian.

Without an LPA, your loved ones will need to undergo the long, troublesome and expensive process of applying to the court to allow your financial and personal affairs to be managed on your behalf.

An LPA is a logical component of a holistic estate planning process, complementing an Advance Medical Directive and existing will.

Eligibility To Make A Lasting Power Of Attorney

According to the Office of the Public Guardian, if you want to make an LPA, you must fulfil the following criteria:

– You must have the mental capacity to make the LPA
– Your donee(s) that you wish to appoint to act on your behalf must be willing
– Both you and your donee(s) must be at least 21 years old and not be an undischarged bankrupt for LPAs for property and -personal affairs.

For your LPA to be legally valid, you also need to register your LPA with the Office of Public Guardian.

Lasting Power Of Attorney: Form 1 Or Form 2?

When deciding to make an LPA, one of the decisions you need to make is whether to do use  “Form 1” or “Form 2” for your LPA.

Form 1 is the most common and “default” type of LPA, giving the donee that you trust general powers with basic restrictions to act on your behalf. On the other hand, Form 2 requires a lawyer to draft the exact scope (or customised powers) that you wish to grant your donee to perform on your behalf.

How To Submit An Online LPA Application

Step 1: Choose your Donee(s). They must be above 21 and someone you can trust to make decisions on your behalf regarding your personal welfare, your property & affairs, or both.

Step 2: Log in to the Office of the Public Guardian Online (OPGO) via Singpass, where you can draft your LPA. The donees can also accept their appointment via the OPGO.

Step 3: Next, look for a LPA Certificate Issuer, such as Accredited Medical Practitioners, Practicing Lawyers and/or Registered Psychiatrists to certify your LPA and sign using Singpass digital signature.

Step 4: Once the LPA is certified, it will be submitted to the OPGO for registration. When the digital LPA is accepted and registered, you and your donee(s) will be notified via SMS/email.

There’s No Better Time To Make An LPA Than Now

The fact that you’re reading this article shows that you have sufficient mental capacity. If you haven’t made an LPA, we hope that we’ve convinced you of their importance.

As an additional bonus, application fees for the LPA Form 1 have been waived until 31 March 2026.

There really isn’t a better time to set up an LPA than right now.

[Dp26]

Can’t agree more 

[kobayashiGT]

Better be safe than none. 

[RadX]

On 4/4/2023 at 8:13 PM, Windwaver said:

https://dollarsandsense.sg/what-is-lasting-power-of-attorney-lpa-and-why-all-singaporeans-should-make-one/

The importance and value of making a will is widely accepted and well-documented. In the same way, a Lasting Power Of Attorney is a logical component of a holistic estate planning process, complementing your existing will.

The importance and value of making a will are widely accepted and well-documented. We all understand that it makes sense to express your wishes when you’re still of sound mind and not under duress, so that your intent can be carried out when you’re no longer around.

However, what happens in the event something unfortunate were to befall you, but you’re not quite dead? Surely you would still want all your assets to be managed by a trusted party, who can also take steps to protect your portfolio’s value.

Your assets can then be used to sustain your treatment, or ensure your existing liabilities continue to be serviced, without having to trouble your loved ones. This is how a Lasting Power of Attorney (LPA) can be helpful in giving you peace of mind.

Here’s how a LPA works and how it can help you.

What Is A Lasting Power Of Attorney (LPA)?

A Lasting Power of Attorney (LPA) is a legally-binding document that empowers someone you trust to manage your financial affairs for you (including your assets) in the event you lose the ability to do so for yourself.

LPAs in Singapore are administered by the Office of the Public Guardian.

Without an LPA, your loved ones will need to undergo the long, troublesome and expensive process of applying to the court to allow your financial and personal affairs to be managed on your behalf.

An LPA is a logical component of a holistic estate planning process, complementing an Advance Medical Directive and existing will.

Eligibility To Make A Lasting Power Of Attorney

According to the Office of the Public Guardian, if you want to make an LPA, you must fulfil the following criteria:

– You must have the mental capacity to make the LPA
– Your donee(s) that you wish to appoint to act on your behalf must be willing
– Both you and your donee(s) must be at least 21 years old and not be an undischarged bankrupt for LPAs for property and -personal affairs.

For your LPA to be legally valid, you also need to register your LPA with the Office of Public Guardian.

Lasting Power Of Attorney: Form 1 Or Form 2?

When deciding to make an LPA, one of the decisions you need to make is whether to do use  “Form 1” or “Form 2” for your LPA.

Form 1 is the most common and “default” type of LPA, giving the donee that you trust general powers with basic restrictions to act on your behalf. On the other hand, Form 2 requires a lawyer to draft the exact scope (or customised powers) that you wish to grant your donee to perform on your behalf.

How To Submit An Online LPA Application

Step 1: Choose your Donee(s). They must be above 21 and someone you can trust to make decisions on your behalf regarding your personal welfare, your property & affairs, or both.

Step 2: Log in to the Office of the Public Guardian Online (OPGO) via Singpass, where you can draft your LPA. The donees can also accept their appointment via the OPGO.

Step 3: Next, look for a LPA Certificate Issuer, such as Accredited Medical Practitioners, Practicing Lawyers and/or Registered Psychiatrists to certify your LPA and sign using Singpass digital signature.

Step 4: Once the LPA is certified, it will be submitted to the OPGO for registration. When the digital LPA is accepted and registered, you and your donee(s) will be notified via SMS/email.

There’s No Better Time To Make An LPA Than Now

The fact that you’re reading this article shows that you have sufficient mental capacity. If you haven’t made an LPA, we hope that we’ve convinced you of their importance.

As an additional bonus, application fees for the LPA Form 1 have been waived until 31 March 2026.

There really isn’t a better time to set up an LPA than right now.

This kind thing when h shd merge u dun

 

other when u Shd start new thread you merge…. Sheesh

[Davidklt]

On 3/30/2023 at 12:09 PM, Voodooman said:

Mine also free, sponsored by my financial advisor. Haven't got around to do my Will..

By the way, the list of assets in any will is static.  Properties, equities and bonds parked with CDP/ SGX are easy to hunt down but others can be more complicated.

At the present moment, I keep a list, updated annually, sealed in an envelope and locked away in a drawer. Told my family of its whereabout. 

Any better way to deal with it?

what are some of the "others" that are more complicated? can share ? just incase we have not thought of it? cash in biscuit tin?

[Voodooman]

On 4/5/2023 at 12:31 PM, Davidklt said:

what are some of the "others" that are more complicated? can share ? just incase we have not thought of it? cash in biscuit tin?

Overseas investment? 

 

[Windwaver]

On 4/5/2023 at 9:01 AM, RadX said:

This kind thing when h shd merge u dun

 

other when u Shd start new thread you merge…. Sheesh

Oh, I see new article so start new one , can merge if there's any existing thread.

[Windwaver]

On 4/5/2023 at 1:46 PM, Voodooman said:

Overseas investment? 

 

Not overseas family? 

[Kopites]

To those in need of making a LPA. Is free now. 

https://www.straitstimes.com/singapore/free-lpa-applications-under-new-campaign-to-promote-better-end-of-life-planning

Free LPA applications under new campaign to promote better end-of-life planning

[Fcw75]

Done mine 3 mths back. 😊

[Ghgan]

On 7/22/2023 at 11:04 PM, Kopites said:

To those in need of making a LPA. Is free now. 

https://www.straitstimes.com/singapore/free-lpa-applications-under-new-campaign-to-promote-better-end-of-life-planning

Free LPA applications under new campaign to promote better end-of-life planning

The certification fee waiver is available only for applications made at the roving booth. This weekend, the booth is located at Our Tampines Hub. In August, the booth will be at Queenstown Community Centre. Other locations will be announced at a later date. Cheapest I found is Toa Payoh medical clinic for certification.

https://www.kingswaymedical.sg/

[Fcw75]

On 7/23/2023 at 12:35 PM, Ghgan said:

The certification fee waiver is available only for applications made at the roving booth. This weekend, the booth is located at Our Tampines Hub. In August, the booth will be at Queenstown Community Centre. Other locations will be announced at a later date. Cheapest I found is Toa Payoh medical clinic for certification.

https://www.kingswaymedical.sg/

Very good price, better than SATA.