PSP 1 - Wills and Probate Basics
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Questions and Answers

What is a key requirement for a testator to create a valid will?

  • Must be a homeowner
  • Must be at least 21 years old (correct)
  • Must have at least one witness
  • Must have prior experience in making a will

In which situation can a will be considered invalid based on the witness requirements?

  • The will is written but not dated
  • A witness is a beneficiary
  • Witnesses signing at different times (correct)
  • The testator is present but not signing

What determines the time at which a will takes effect?

  • Execution date of the will
  • Date of creation of the will
  • Death of the testator (correct)
  • Date when it is notarized

Which of the following can invalidate a will regarding its witnesses?

<p>Witnesses having financial interest in the estate (C)</p> Signup and view all the answers

What characteristic must a testator possess to make a valid will?

<p>Sound mind (A)</p> Signup and view all the answers

Under the Wills Act, how often can a testator change their will?

<p>As often as they want (B)</p> Signup and view all the answers

What must the will be to ensure formal validity according to the Wills Act?

<p>In writing and signed in the presence of two or more witnesses (A)</p> Signup and view all the answers

What is the primary purpose of a commencement clause in a will?

<p>To identify the testator (D)</p> Signup and view all the answers

Which clause can potentially lead to earlier wills being admitted as valid if omitted?

<p>Revocation clause (D)</p> Signup and view all the answers

What essential requirement must a codicil fulfill to be valid?

<p>It must be in writing and signed in presence of two witnesses (C)</p> Signup and view all the answers

What is the first responsibility of an executor when handling an estate?

<p>To call in the estate (D)</p> Signup and view all the answers

Who can be appointed as executors and trustees of a will?

<p>Any adult, including beneficiaries (B)</p> Signup and view all the answers

What is the primary function of a trustee after the estate administration period?

<p>To hold assets on trust for beneficiaries (A)</p> Signup and view all the answers

What happens if a will does not contain a specific gift clause?

<p>Specific gifts cannot be made from the estate (D)</p> Signup and view all the answers

What is required to ensure that debts and liabilities are met before estate distribution?

<p>Executors must ensure all debts are paid from the estate (D)</p> Signup and view all the answers

What does the revocation clause accomplish in a will?

<p>It formally invalidates previous testamentary documents (A)</p> Signup and view all the answers

What happens to a gift if a beneficiary is deceased at the time of the testator's death and no express clause is included in the will?

<p>The gift is redistributed to surviving children in equal shares. (D)</p> Signup and view all the answers

What is a potential consequence of not naming executors in a will?

<p>A grant of Letters of Administration may be required. (D)</p> Signup and view all the answers

Which of the following is NOT a ground under which the Inheritance Family Provision Act applies?

<p>Parents of the deceased. (C)</p> Signup and view all the answers

What must be included in a will if the testator wishes for the deceased child's share to pass to that child's issue?

<p>An express clause. (B)</p> Signup and view all the answers

What could lead to a partial intestacy in a will?

<p>Some assets are not specifically disposed of. (A)</p> Signup and view all the answers

What is the primary purpose of the Residuary Estate?

<p>To pay for debts, funeral expenses, and taxes (C)</p> Signup and view all the answers

Which clause is typically found at the end of a will?

<p>Testimonium clause (B)</p> Signup and view all the answers

What is required by section 6 subsection 2 of the Wills Act?

<p>Wills must be signed at the foot or end by the testator and witnesses (A)</p> Signup and view all the answers

What should be included in a will if a testator holds assets under different names?

<p>The other names of the testator (A)</p> Signup and view all the answers

What is the main role of the attestation clause in a will?

<p>To provide a witness to the signing of the will (A)</p> Signup and view all the answers

What is a significant concern when minor beneficiaries are involved in a will?

<p>Trusts may be needed for managing their inheritance (C)</p> Signup and view all the answers

What crucial detail must be present in a will regarding beneficiaries and witnesses?

<p>The full names and addresses (D)</p> Signup and view all the answers

What may the court require if there are queries about the execution of a will?

<p>An affidavit of due execution from a witness (B)</p> Signup and view all the answers

What is the importance of including the date in the Testimonium clause?

<p>It specifies the time of execution (A)</p> Signup and view all the answers

Why is it necessary to provide full details for witnesses in a will?

<p>To facilitate easier locating if needed in the future (D)</p> Signup and view all the answers

Which of the following types of assets cannot be disposed of in a will?

<p>Monies in CPF accounts (A)</p> Signup and view all the answers

What must happen for a joint tenancy to be severed?

<p>A Notice of Severance must be served. (A)</p> Signup and view all the answers

What is the consequence when a gift in a will is made to a child who dies before the testator?

<p>The gift falls into the residuary estate if there are no alternative beneficiaries. (A)</p> Signup and view all the answers

What happens if there is insufficient money to pay cash gifts in a will?

<p>The gifts are reduced through abatement. (D)</p> Signup and view all the answers

Under which condition does a gift not lapse if the beneficiary died first?

<p>If the will explicitly states a contrary intention. (C)</p> Signup and view all the answers

Which statement accurately reflects the principle of redemption concerning gifts?

<p>Gifts fail if the property does not exist at the testator's death. (D)</p> Signup and view all the answers

What must be referenced to understand the distribution of insurance proceeds under a will?

<p>Sections 131 to 133 of the Insurance Act (C)</p> Signup and view all the answers

What is the role of Section 26 of the Wills Act in relation to gifts made to children?

<p>It preserves gifts if a beneficiary predeceases the testator under certain conditions. (C)</p> Signup and view all the answers

Which statement about property in joint tenancy is false?

<p>Jointly held assets can be disposed of through a will. (A)</p> Signup and view all the answers

In the case of a gift failing due to the property not existing, what process is referred to?

<p>Redemption (C)</p> Signup and view all the answers

Flashcards

Testator

The person who makes a will.

Executor

The person responsible for managing the estate after the testator's death, following the will's instructions.

Beneficiary

A person named in a will to receive property from the testator's estate upon their death.

Will requirements (age)

A testator must be at least 21 years old; exceptions exist for soldiers, sailors, etc.

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Testamentary Capacity

The mental ability to understand and make a will.

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Will Validity

A will must meet formal requirements (ex. in writing, proper witnesses) and substantive requirements (mental capacity).

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Will's Effect

A will's terms take effect at the testator's death, unless stated otherwise, and it can be changed during the testator's lifetime.

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Commencement Clause in a Will

Part of a will that identifies the testator and states it's their last will and testament.

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Revocation Clause

A clause in a will that cancels prior wills or testamentary documents.

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Codicil

A separate document that amends or adds to an existing will.

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Trustee

Person managing assets in trust for beneficiaries after estate administration.

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Grant of Probate

Official legal authorization for executors to manage the estate.

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Estate Administration

Process of settling a deceased person's affairs, including paying debts and distributing assets.

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Specific Gift Clause

Section of a will that details specific items or amounts to be given to designated individuals.

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Residuary Gift Clause

Portion of a will that states how remaining assets are distributed after debts and specific gifts are handled.

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Residuary Estate

The remaining part of an estate after all debts, expenses, taxes, and specific gifts have been paid.

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Residuary Clause

A provision in a will that directs how the remaining estate (residuary) should be distributed.

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Trust for Sale

A legal arrangement where trustees are appointed to manage and sell property for the benefit of a beneficiary.

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Testimonium Clause

The clause in a will stating that the testator signed the will and the date.

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Attestation Clause

The clause in a will confirming that the witnesses signed the will in the testator's presence.

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Witnesses' Details in Will

The will should clearly list the full names, addresses, and NRIC numbers of each witness.

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Why Include All Testator's Names?

When a testator has multiple names, all should be included in the will to ensure proper identification and distribution of assets.

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Affidavit of Due Execution

A sworn statement from a witness confirming the valid execution of a will.

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Beneficiary Details in Will

The will should clearly list the full names, addresses, and NRIC numbers of each beneficiary.

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Court's Role in Will Execution

The court might require an affidavit of due execution from a witness if there are concerns about the will's signing.

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What happens if a child dies before inheriting?

A gift to a deceased child in a will usually goes to the surviving children in equal shares. To give the gift to the deceased child's children, the will must say so explicitly.

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What is partial intestacy?

Partial intestacy happens when a will doesn't cover all of the testator's assets or doesn't name any executors. The remaining assets are distributed according to intestacy laws.

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What is the Inheritance Family Provision Act?

This Act allows dependents (not parents or illegitimate children) not provided for in a will to apply for a portion of the deceased's estate.

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How is a gift to a non-Singaporean beneficiary affected?

Gifting immovable property to a non-Singaporean beneficiary requires specific legal considerations, such as the Residential Property Act and Housing and Development Act.

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What is a residuary clause?

A residuary clause outlines how any remaining assets of the testator's estate are distributed after all specific gifts and debts are handled.

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What assets can't be disposed of in a will?

Certain assets, like CPF funds, must be dealt with through specific procedures, such as CPF nominations. Proceeds from insurance policies are governed by the Insurance Act 1966.

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Joint Tenancy

A type of property ownership where surviving owners automatically inherit the deceased owner's share. However, the ultimate survivor can still dispose of the property in their will.

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Severing Joint Tenancy

Ending joint tenancy ownership so the property can be disposed of separately. This requires a legal notice served on all joint tenants.

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Inter vivos trust

A trust created during a person's lifetime. Assets held in an inter vivos trust are not part of the person's estate when they die.

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Redemption (gift)

A gift fails if the property intended for the gift doesn't exist at the testator's death.

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Abatement (gift)

When there isn't enough money to cover all cash gifts in a will, the gifts are reduced proportionally.

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Lapsing Gift

A gift by will fails when the intended beneficiary dies before the testator.

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Section 26 of the Wills Act

This section prevents a gift from lapsing if the beneficiary has children (issue) alive at the time of the testator's death. The gift goes to the beneficiary's estate.

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Contrary intention (Section 26)

A will can override Section 26 and direct the gift to a specific person, bypassing the deceased beneficiary's estate.

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Class gifts and Section 26

Section 26 does not apply to class gifts, where a gift is made to a group of people described as a class (e.g. children).

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Study Notes

Wills and Probate

  • A will is a written declaration of how a testator wants their estate distributed after death. Key figures include the testator (maker of the will), executor (responsible for estate distribution), and beneficiary (person receiving assets).
  • A valid will requires the testator to be at least 21 years old and of sound mind, executed in front of two or more witnesses who sign.
  • Wills can be changed during the testator's lifetime.
  • Important will clauses include commencement, revocation, executor/trustee appointment, specific and residuary gift clauses, testimonium, and attestation.
  • Will drafting considers beneficiaries' details, avoids partial intestacy (dying without a will), and ensures clarity of testator's intentions.
  • Intestacy occurs when someone dies without a will; the public trustee manages the estate until administration is granted.
  • Considerations for a will include concurrent deaths, rights of illegitimate/adopted children, and effect of bankruptcies.

Key Characters in a Will

  • Testator: the person making the will.
  • Executor: the person named in the will to manage the estate after death.
  • Beneficiary: the person or people named in the will to receive assets.

Making a Valid Will

  • Testator must be at least 21 years old and of sound mind.
  • Execution requires witnesses in the presence of the testator.
  • The will must be in writing, signed by the testator and witnessed.
  • The witnesses must sign in the presence of the testator.

Wills Act

  • Section 4: Minimum age for testator, exceptions for soldiers.
  • Section 5: Formal validity (rules).
  • Section 6: Execution requirements for a valid will.
  • Section 10: Beneficiary or their spouse cannot be a witness.
  • Section 13 and 15: Revocation clauses.
  • Section 19: When a will takes effect.
  • Section 27: Exceptions related to will-making capacity.

Other Important Points

  • Will takes effect upon testator's death.
  • Codicil is a separate document amending a will.
  • Executors and trustees manage the estate. They call in assets, honour debts, and distribute assets.
  • Guardians are appointed for minor children.
  • Specific gifts are for particular items; non-specific for general items; residuary gifts are for any remaining assets.

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Wills and Probate in Singapore - PDF

Description

This quiz covers the fundamental concepts of wills and probate, including key figures involved in the process, requirements for a valid will, and important clauses that should be included. Understand the implications of intestacy and the nuances in will drafting to ensure clarity in the testator's intentions.

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