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Five Common blind spots of a simple will

Many in Singapore believe a Last Will and Testament is a complete legacy plan. It isn't. In the modern era, a Will is often too blunt an instrument to deal with our complex CPF, insurance and housing rules.
If your plan stops at a Will, you have some dangerous blind spots that could cost your family time, harmony, and significant wealth.1. The "Living” Crisis
A Will only activates upon death. It is legally powerless while you are alive. With longer life expectancies, the risk of "mental incapacity" (stroke or dementia) is high. Without a Lasting Power of Attorney (LPA), your bank accounts are frozen while you are still in the hospital. Your family cannot access your assets without proper authorization in place.
A Will plans for your death; an LPA plans for your survival.2. The 12-Month Probate Freeze
A Will does not grant immediate cash. In Singapore, your family must wait for Probate, a court process that typically takes 6 to 12 months. During this time, your assets are frozen. Relying solely on a Will leaves your family "asset rich but cash poor" at the exact moment they need to pay for funeral costs and keep up ongoing payments such as mortgage, car and tax installments.3. The Unreachable Assets
Your Will does not control your two largest wealth buckets:
• CPF Savings: These bypass your Will entirely. Without a CPF Nomination, your funds are sent to the Public Trustee to be distributed by law, incurring administrative fees and long delays.
• Insurance: Without a Section 49L/49M Nomination, payouts get trapped in the 12-month Probate freeze. A proper nomination ensures your family receives "emergency cash" in weeks, not years.4. The "Lump Sum" Danger
A Will is a blunt instrument that dumps a lump sum onto your beneficiaries. This is a risk spendthrift heirs or vulnerable elderly beneficiaries who cannot manage wealth. A Trust acts as a "hand from the grave," allowing you to stagger payouts, protect assets from a beneficiary’s future divorce, or shield wealth from future creditors.5. The Property Deadlock
Property is the most complex asset for Singaporeans, and a Will can create more problems than it solves:
• Joint Tenancy: If your home is held in Joint Tenancy, your Will cannot touch it; it passes automatically to the surviving owner. This may or may not be what you want.
• The ABSD Burden: Inheriting a property can trigger Additional Buyer’s Stamp Duty (ABSD) for your children or ruin their future public housing eligibility.
• Family Conflict: Leaving one house to two or more children often leads to a "forced sale" and permanent family rifts. Planning for Strategic Equalization is required to keep the family harmony intact.

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