- Free Will Writing Service for Existing Clients

Free Will Writing Service for Existing Clients

Written by Wilfred Ling

For those who engage our comprehensive financial planning service, the cost of having a Simple Will is FREE for both husband and wife. If your Will is more comprehensive, we offer 45% discount on your Will. The following is a comparison table for Simple Will and Comprehensive Will:

	Simple Will	Comprehensive Will
Executors
Individuals	Yes	Yes
Professional Corporate Trustee	No	Yes
Regular allowance to Executors	No	Yes
Power to appoint financial adviser	No	Yes
Domicile
Singapore	Yes	Yes
Commonwealth country	No	Yes
Guardian
Joint guardianship with spouse/ ex-spouse	No	Yes
Sole or joint guardianship if spouse did not survive	Yes	Yes
Regular allowance to guardian	No	Yes
Total number of beneficiaries	Limited	Unlimited
Specific Bequests & Devices	4	Unlimited
Commorientes	No	Yes
Reasons to exclude spouse, disabled child, unmarried daughters or sons below 21	No	Yes
Children en ventre sa mere	No	Yes
Children of a particular spouse	No	Yes
Contemplation of marriage Will	No	Yes
Endeament	No	Yes
Testamentary Trust
Movable Assets	No	Unlimited
Immovable Assets	No	Unlimited
Beneficiaries at the end of trust life	NA	Yes
Payment to Beneficiaries – discretionary	NA	Yes
Payment to Beneficiaries – fixed allowance	NA	Yes
Payment to Beneficiaries inflation adjusted	NA	Yes
Conditions for capital distribution	NA	Yes
Payment to Beneficiaries for birthdays	NA	Yes
Powers to Sell, Invest, Rent, etc	NA	Yes
Maximum length of trust	NA	100 years
Powers to appoint investment adviser to manage portfolio	NA	Yes
Will Custody	No	Yes (compulsory)
*Will Writing Fee	FREE	$290 - $2,100
Translation to Mandarin	No	Yes (40% surcharge)
Appointment of Corporate Trustee as Executor	NA	$100 (one time)
Custody Fee at CISCO	NA	$70 per annum
^Discount on Will Writing Fee	NA	45%
About the Will writer
Identity of Will writer	A lawyer	Rockwills
Number of Wills written by Will writer	Unknown	>80,000
Number of Wills “passed” Grant of Probate	Unknown	>1,500
Turnaround time	>1 month.	5 working days for first draft in softcopy
Able to see draft before attestation	No	Yes
Advice on common mistakes	No	Yes

*To qualify for the FREE Will Writing service, the following are the terms and conditions:

Clients must have engaged and paid a fee to us for Comprehensive Financial Planning or Retainer Service from 1 July 2009 onwards;
This is only for simple Will (see table above);
Both husband and wife only;
For those who are single, there is no cash rebate for the second unused Will service;
The free service can only be claim once;
Clients do not need to have the Will written immediately but they must do so before a stipulated expiry date; and
This special offer can be withdrawn at any time without notice.
The FREE Will Writing service is not exactly free because the lawyer will be charging us for providing this service. We will absorb this cost.

^To qualify for the 45% discount for Comprehensive Will writing, the following are the terms and conditions:

Clients must have engaged and paid a fee to us for Comprehensive Financial Planning or Retainer Service from 1 February 2010 onwards;
Discount is not available to those who have already exercised their Will written for FREE.
Clients pay the Will writing fee in full (undiscounted) first. 45% of that amount will be credited to their future Retainer Fees. At all times, there is no cash rebate for the discount.
Before generating the draft, clients pay the entire Will writing estimated fee upfront. A cash refund will be made if there was an overpayment. Any shortfall will have to be top-up when the final Will is attested.
Clients have 30 days to have the Will attested from the time when the first draft is generated.
On the day of attestation, Wilfred Ling who is also a Rockwills Professional Estate Planner must be present to ensure all procedures are adhere to and that all witnesses and testator are briefed as to what they are signing. Otherwise, the discount will be forfeited and any payment already made will not be refunded.

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