What is the Residuary clause will in Singapore?

Residual property includes all property of a deceased individual not specifically given to a beneficiary through a will. Whether it be money or other items, the residual property has no owner unless laid out in the will. This property is then dealt with by the Residuary clause in the will.

The residual property may result due to:

• An intended beneficiary under the will passes away prior to the effective transfer of property to him/her. 
• The testator acquires new property after executing the will;
•  Property that is specifically bequeathed under the will (such as house) is sold and converted into monies prior to the testator’s death; 
• The distribution of property under the will is contrary to law or invalid for some reason; 
• Other reasons causing the failure of transfer of property under the will.

The residuary clause will, Singapore

Wills in Singapore often consist of residuary clauses. The Singapore Courts have generally adopted a consistent approach to dealing with residuary property. Where the will contains a valid residuary clause, the Court will determine whether the property falls within the scope of the clause. 

If the answer is yes, the property will be distributed in accordance with the residuary clause (and therefore, the testator’s wishes). Where the will does not contain a residuary clause, the Court will apply the provisions of the Intestate Succession Act (Cap. 146 of Singapore) to determine the manner in which the residuary property should be distributed.

Summing up

The probate lawyers at Populus law corporation can help you with drafting a will with a residuary clause. They also provide other valuable services in this field. You can visit their website to learn more about the The residuary clause will in Singapore and gauge their best in the market prices.

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Website:- https://singaporeprobatelawyer.sg/

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