What happens if some or all of my beneficiaries in my Will die before me?
Specifically for getArrange.com in the " Select Clauses" tab you would have selected one of two choices:
If you choose " Still be given to him / her", it will contribute to his / her estate which will be distributed according to his / her Will. (or based on his / her circumstance under Singapore's Intestacy Laws if he/she does not have a Will)
If you choose " Redistribute as Residual Assets", it will be redistributed according to the percentages put forth in the "Allocate Residual Assets" section under the "Allocate Assets" tab. In the event where the deceased happens to be one of the said person(s), his / her share shall be redistributed proportionately amongst the other surviving personnel.
Based on the example in the picture above, if the son is dead, the redistribution will give the wife a bigger (2/3) share and the daughter a smaller (1/3) share.
In the case if you choose "Redistribute as Residual Assets" but all said beneficiaries including the said personnel under "Allocate Residual Assets" are dead, then as the Will is unable to be executed, the testator's estate shall be distributed according to Singapore's Intestacy Law.
Traditional will writing can be extremely inconvenient and unreasonably expensive, making people either have a will as late as possible or one that is overly complicated. Neither over-complication nor the illusion of a divine ability to foresee your death are feasible methodologies.
You should see your Will as a plan for your loved ones after your death, have one early and one based on your situation now. As circumstances change, so should your plan adapt accordingly. This is why here at getArrange.com we work so hard to deliver quality Wills at affordable prices.