| Drafting a Will and considerations |
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| Written by Wilfred Ling | ||||||
| Sunday, 12 July 2009 | ||||||
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There are many reasons to draft a Will. However, there are also many considerations that require careful planning before you make your Will. Many clients have a misconception that there is no need to make provision for estate planning. Also many assumed that estate planning is only for the rich or it is merely just drafting a Will. However, the Will is merely a tool to ensure that plan works out according to the intended purpose. Like all financial tool, the bulk of the work is in the planning. The tool – or the drafting of the Will – is the outcome of the planning process. Financial advisers do not do much estate planning because there is no commission. Some financial advisers are so lazy that when clients asked how their insurance policy proceeds are going to be distributed to their dependents, these advisers created a Section 73 irrevocable trust without even making a plan for their clients. These advisers did not tell their clients that there are many ways of doing this. Moreover, clients do not care about estate planning because of ignorance. The following are some considerations related to this subject... Read More (login required, clients only)
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