What comes under the Residuary Clause Will Singapore?

The Residuary Clause Will in Singapore says the person who gets any assets or the sale proceeds further is not specifically gifted somewhere within the will or trust.  Thus, a residuary clause is a catch-all provision that allows a testator of choice or a settler to ensure that all their assets pass as they wish. A residuary clause can be more elaborate and proffers for various unpredicted contingencies while writing the will.

Not having a residuary clause is virtually unprecedented in an attorney-drafted will.  When it does occur, failing to proffer a residency clause is most likely to be found in a layperson's handwritten (holographic) will.  A well-drafted attorney's will or trust should give you greater peace of mind.

Is a residuary clause required in the will or trust while writing Will? Yes, both a will and a conviction should always contain a residency clause in addition to any specific bequest clauses.

Assets that are not explicitly gifted elsewhere in the will or trust fall into the catch-all residuary estate.  Whoever receives these residuary assets gets controlled by the residuary clause. For example, I leave all my other purchases, not specifically gifted elsewhere, in my will equal to both the children through the right of representation. 

Why is a Residuary Clause Will Singapore essential?  Even if a will or trust gives explicitly every asset owned by the testator of a will or settler of trust amid when they executed the will or trust, that often becomes increasingly short as time progresses. 

A residuary clause is essential to address the following issues:

1. Who inherits any assets not explicitly gifted in the will or trust?

2. What if a beneficiary who receives a particular gift does not survive to inherit or refuses to accept the present? There is no other beneficiary who inherits that gift.

3. What if a non-probate asset such as life insurance or retirement plans reverts to the decedent's probate estate, perhaps due to the non-success with the appointment of the dead heir form required?

Other non-probate properties, such as retirement accounts, if they exist, should still pass according to the designated death beneficiary forms. According to the Singapore government Organ Donation After Death in Singapore is mandatory for people. The important organ list includes kidneys, eyes among others.

Contact us : 

Singapore Probate Lawyer

Ph No. :- +65 9833 0314

Website :- https://singaporeprobatelawyer.sg/

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