Nobody likes to think about their own mortality, especially when you're young, very much alive, and living it up. But the truth is, life is unpredictable. Nothing is certain whether you're a TikTok influencer with millions of followers or a startup founder on the brink of success. In Singapore, a will is a legally binding document that outlines your final...
Nobody likes to think about their own mortality, especially when you're young, very much alive, and living it up.
Making a will ensures that the people who depend on you most are provided for as much as possible after your death. For instance, if you have a family and die without a will, the rules of intestacy will give half your money to your spouse, and the other half will be divided amongst your kids. But that could mean that your aged parents get nothing.
Their decision isn't a result of family feuds or estranged relationships, but of a conscious parenting decision. They believe that their children should create their own success and shouldn't have it handed to them on a silver platter. In other ways, these celebrities are making sure that they aren't breeding nepo babies-a term coined to refer to people who have benefited from nepotism, i.e. succeeded in their career because of their parents' fame.
What's more, if you and your spouse have a lousy relationship but are not officially divorced, beware that they will still get half your assets should you die, even if you were living separately. If you don't write a will, don't be surprised if there are disputes as to how your assets are to be divided and distributed.You might think that Big Brother knows everything about you and what you own, but that is only true of assets held in your name locally, such as money in your bank accounts.
That also means that, unless you write a will, your partner will get nothing as the laws of intestacy will not recognise them as a family member or relative, even if you've been living together for decades. You can protect your partner by writing them into your will.But you can-and should-arrange for their care should you pass away, otherwise they will just be disposed of like all the other property in your estate and could find themselves at a shelter.
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