My ______ has died. How do I access/distribute his/her assets?
Before anything, let us as a company give you our most sincere condolences.
There are other related matters apart from assets, which you can find out more information from NEA's website.
When a loved one passes away, they leave behind their estate. This includes their money and property (such as cash, real estate, financial securities, possessions and other assets), as well as their liabilities (such as debts).
Estates must be administered and distributed in accordance with the law. Probate and administration is the legal process of appointing someone to manage the deceased’s estate. The Family Courts and the Family Division of the High Court hear probate and administration applications.
- If he/she died without a will, to access the deceased's assets you will need a Letter of Administration. With it, the Administrator(s) can then proceed to the respective institutions withholding the assets.
- If he/she died with a will, to access the deceased's assets you will need a Grant of Probate. With it, the executor(s) then proceeds to the respective institutions withholding the assets.
CPF Monies and Assets
Do take note that certain CPF monies and assets that are covered under CPF nomination does not go through the probate and administration application.
If the deceased had made a valid CPF nomination, these CPF monies and assets will be distributed in cash to his nominee(s).
If the deceased had not made a valid CPF nomination, these CPF monies and assets will be forwarded to the Public Trustee's Office (PTO) for distribution according to intestacy or Muslim Inheritance laws. PTO will charge a fee for the administration of un-nominated CPF money.
The video below summarises the processes. For further details, you can also refer to the Probate & Administration Toolkit from the Singapore Courts website.
While it is possible to apply for the Grant of Probate / Letter of Administration without a lawyer, due to the intricacies involved, for convenience people typically choose to do so with one. You may use the Consult Lawyer function in our platform to raise a request to our preferred law firm to assist in the application and there will be a $100 discount off their public pricing.
Probate eService
There is a Probate eService which the executor can use to apply for a Grant of Probate directly online. However, there are certain eligibility requirements, such as it is only available for the sole executor named in the Will of the deceased who is a non-Muslim Singaporean or PR with a total estimated estate value of not more than $2 million.
There are still necessary court filing fees and other related fees, such as engaging a lawyer to certify that the copy of Will is a true copy (since the court accepts a copy of the Will instead of the original) and a commissioner of oath for the administrator's oath. You can refer to their fee summary estimates here: https://services.judiciary.gov.sg/probate.
Without using the Probate eService, you can also apply for grant of probate on your own by visiting the LawNet & CrimsonLogic Service Bureau. The necessary court filing fees and other related fees still apply. You can find more details on the procedures and fees here: https://www.judiciary.gov.sg/family/how-to-file-grant-of-probate.
Insurance Death Claim
For insurance policies, a death claim may be paid to the trustee, nominee, executor, administrator, or “Proper Claimant” as defined by the Insurance Act. For payments to a Proper Claimant, the insurer may pay up to the first $150,000 and any remaining amount will be paid to the administrator / executor of your estate. Please contact your Financial Adviser or the related Insurer if you require more details.
Administrators(s) / executor(s) are required to keep proper records when administering / executing the deceased's estate. This includes recording the assets, income, expenses, and distribution of the estate. To aid in this generally, the administrator(s) / executor(s) will open a separate estate account to deposit any monies / proceeds / income from the deceased's estate. Any expenses regarding the estate will also be paid from the estate account. Administrators(s) / executor(s) will usually require the beneficiaries to sign off release forms or any other similar document(s) to declare that the beneficiaries have received their share of the estate. For immovable assets such as property, the administrator(s) / executor(s) and beneficiaries may need to engage professionals (e.g. conveyancing lawyer) or head down to the respective governing institution (e.g. Housing Development Board) to effect the transfer.
For guardianship of child(ren), even if the adult(s) is appointed to be the testamentary guardian, he/she/they will be required to file a guardianship application.
If the deceased died without a Will and the deceased's estate value does not exceed $50,000 and also fulfils certain criteria, family members may apply to the Public Trustee's Office (PTO) for the Public Trustee to administer the deceased's estate for a fee (of up to 6.5% on the estate value). The PTO will distribute the deceased's estate according to the Intestate Succession Act.