According to the official website of The Lawyer Society of Singapore (http://www.lawsociety.org.sg):
“Your assets will be distributed according to the rules of intestacy as laid down in the Intestate Succession Act.”
A private solicitor will be able to advise you on the application of these rules.
Below is a list of examples of how an estate will be distributed in the absence of a Will according to the Intestate Succession, from www.moneysense.gov.sg:
"If you leave behind a spouse and children, your spouse will be entitled to half the estate while the other half will be distributed equally among the children; in the event the child pre-deceases you, leaving behind his/her children (i.e. your grandchildren), your grandchildren will take the share of your child;
"If you leave behind a spouse and your parents, your spouse will be entitled to half the estate with the other half going to your parents in equal shares;
"If you leave behind children and your parents, the children will get the whole estate in equal shares;
"In the absence of any surviving spouse, children or parents, your siblings will be entitled to the entire estate in equal shares. If you do not have any sibling, then your grandparents will share the estate;
"In the absence of any spouse, children, parents, siblings or grandparents, your uncles and aunts will share the estate; and If you die without having any persons falling into the above, the Government will be entitled to your whole estate."
In the case which the deceased owns a HDB flat with other(s), the procedures involved in inheriting the flat would depends on the type of flat ownership.
According to HDB's InfoWEB:
a) Under joint tenancy, “if one of the flat owners passes away, the deceased joint-tenant’s share or interest in the flat will be passed on to the surviving joint tenant(s).”
b) Under tenancy-in-common, if there is no Will, “[t]he deceased’s interest in the flat will be distributed according to the provisions of the Intestate Succession Act. The deceased’s family should engage a private solicitor to apply to the Courts for a Grant of Letters of Administration. This is a Court Order that gives the legal authority to the Administrator to administer the deceased's estate. The Administrator is the person administering the deceased's estate. Once the Grant of Letters of Administration or the Grant of Probate has been obtained, the Administrator(s) / Executor(s) can engage their own solicitors or appoint HDB solicitors to act for them to register their legal right as the Administrator(s) / Executor(s).”
For complete information, please visit HDB InfoWEB.
We strongly advise you to contact HDB as they would be in a better position to advise you. You may wish to contact their customer service line at the contact information provided below:
Sales/Resale Customer Service Line : 1800-8663066 (Weekdays: 8.00am - 5.00pm). Off-peak periods (8.00am - 10.00am, Tuesdays to Fridays).
In the case which the deceased own a POSB joint account, officer from DBS, the owning financial group of POSB bank, has advised as below:
The surviving party of a joint account is entitled to the money in the joint account if one party dies. If there are more than one surviving party, all surviving parties would have to authorise for the closure. The joint surviving party(ies) is/are required to produce their NRIC/Passport, original death certificate of the deceased party and the savings passbook (if any) at any DBS/POSB branch.
Should customers require further clarification or assistance, please call our Customer Service Hotline at 1800 111 1111 or (65) 6327 2265 from overseas (24-hours service).
If you would like to find out more about the distribution of a deceased’s CPF monies and assets, please visit this webpage:
“Losing a Loved One” (http://mycpf.cpf.gov.sg/CPF/my-cpf/Losing-Loved-One/LO2.htm)
ORIGINAL SOURCE
Content used in this not-for-profit blog remain the property of their respective owners.
No comments:
Post a Comment