Property distribution should be a blessing, not a curse. Review how you can adequately include your minor, parent and spouse in your property distribution.
Property is usually the biggest item on our list of assets. Given that property is mortar and brick, homeowners need to clearly consider the various options available for the distribution of their property.
Property is usually the biggest item on our list of assets. Given that property is mortar and brick, homeowners need to clearly consider the various options available for the distribution of their property.
There are many obstacles in property distribution, that can eventually make the property inheritance a burden and source of conflict for your appointed beneficiaries. A few points to consider is listed as follows:
- Minors are legally ineligible to inherit a property.
- The law restricts the possession and inheritance of government subsidized property. You can only hold on to 1 such property at any time (For Singaporean).
- Property inheritance can be troublesome for beneficiaries that reside outside the country of your property.
- Beneficiaries with special needs and various other mental impairing conditions tend to lack the ability to manage a property inheritance on their own.
- You may have beneficiaries who do not wish to inherit your property but lack the funds to sell their share of the property to the other appointed beneficiaries.
Homeowners regularly turn towards the options of sale or direct inheritance in their Estate Planning consideration for their property. With an experienced Estate Planner, there are other options that allow for greater flexibility and customization to the homeowner’s wishes.
1. Property to surviving spouse, other assets for children and appointed beneficiaries.
2. A minimal selling price to be stated for the Property with the cash proceeds distributed to the appointed beneficiaries based on the assigned shareholding.
3. Assigning minors or dependents with special needs a Living Interest in the Property, allowing the beneficiary to reside in the property for as long as he/she wishes to, without any ownership rights to the property.
4. Embedding a Testamentary Trust in your Will to allows for the flexibility of sale of share of property or entire property with funds being paid out to the beneficiaries on a periodic basis.
We able to understand the wide scope of issues that need to be addressed in a person’s legacy plans. Make it a priority!
Please contact +6019 - 729 4278 (Malaysia), +65 - 8731 5002 (Singapore) for FREE information and advice or drop us an email at enquiry@willgeneration.com
Visit Website for more information http://jocelline.willgeneration.com
There are many obstacles in property distribution, that can eventually make the property inheritance a burden and source of conflict for your appointed beneficiaries. A few points to consider is listed as follows:
- Minors are legally ineligible to inherit a property.
- The law restricts the possession and inheritance of government subsidized property. You can only hold on to 1 such property at any time (For Singaporean).
- Property inheritance can be troublesome for beneficiaries that reside outside the country of your property.
- Beneficiaries with special needs and various other mental impairing conditions tend to lack the ability to manage a property inheritance on their own.
- You may have beneficiaries who do not wish to inherit your property but lack the funds to sell their share of the property to the other appointed beneficiaries.
Homeowners regularly turn towards the options of sale or direct inheritance in their Estate Planning consideration for their property. With an experienced Estate Planner, there are other options that allow for greater flexibility and customization to the homeowner’s wishes.
Homeowners regularly turn towards the options of sale or direct inheritance in their Estate Planning consideration for their property. With an experienced Estate Planner, there are other options that allow for greater flexibility and customization to the homeowner’s wishes.
1. Property to surviving spouse, other assets for children and appointed beneficiaries.
2. A minimal selling price to be stated for the Property with the cash proceeds distributed to the appointed beneficiaries based on the assigned shareholding.
3. Assigning minors or dependents with special needs a Living Interest in the Property, allowing the beneficiary to reside in the property for as long as he/she wishes to, without any ownership rights to the property.
4. Embedding a Testamentary Trust in your Will to allows for the flexibility of sale of share of property or entire property with funds being paid out to the beneficiaries on a periodic basis.
We able to understand the wide scope of issues that need to be addressed in a person’s legacy plans. Make it a priority!
Please contact +6019 - 729 4278 (Malaysia), +65 - 8731 5002 (Singapore) for FREE information and advice or drop us an email at enquiry@willgeneration.com
Visit Website for more information http://jocelline.willgeneration.com
We able to understand the wide scope of issues that need to be addressed in a person’s legacy plans. Make it a priority!
Please contact +6019 - 729 4278 (Malaysia), +65 - 8731 5002 (Singapore) for FREE information and advice or drop us an email at enquiry@willgeneration.com
Visit Website for more information http://jocelline.willgeneration.com
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