How do I give whosoever the guardian of my minor child(ren) some monies as a token of appreciation?
The configuration describe in this article is meant to give the amount to the Guardian as a gift. It is not meant for the Guardian to hold on trust for the minor child(ren). As for who manages the assets given to young children if they are still underage (minor beneficiaries), please refer to this article.
Giving to a definition (as compared to giving to a named personnel) runs the risk of disputes arising from differing opinions on what the definition entails.
For example, the steps below on giving to “Whosoever the guardian of my minor child(ren)” may include guardians not appointed through your Will (e.g. the guardians appointed by the other parent).
If you want to give to ONLY guardians you appointed through your Will, (i.e. whosoever assumes the role based on the "Appoint Guardian" section or any other written instructions in the same Will), you will need to replace:
"Whosoever the guardian of my minor child(ren)"
with
"Whosoever the guardian of my minor child(ren) appointed through my Will, not including other guardian(s) of my minor child(ren) appointed via other means"
This in contrast potentially excludes all other guardians. For example, if you appointed your brother as the primary guardian and your three other sisters as substitutes but all of them refused and your mother instead took up the role, she will not be entitled to the token of appreciation as she is not (by definition) appointed through your Will.
To make things clearer, you can instead follow this article to indicate to give a monthly payout to a particular person only if he/she assumes the role of guardian to my minor child(ren) OR this article to indicate a one-off specific gift to a particular person only if he/she assumes the role of guardian to my minor child(ren).
In the system, you can add such a beneficiary with the following configurations:
Full name:
Whosoever the guardian of my minor child(ren)
Relationship:
Others
You can give it as a one-off gift, or periodically so long as he/she continues to assume the role.
One-off Gift
Giving a percentage of an asset and/or residual assets
Within the system, as with any other assets, you can allocate it accordingly:
OR
Giving a specific gift from your residual assets. Under the "Select Clauses" tab, toggle on "Other Instructions" and key in the following:
I give whosoever the guardian of my minor child(ren) a specific gift of {Currency}{Amount} to be drawn from my Residual Assets as a token of my appreciation.
OR
Giving a specific gift from a specific asset. Under the “Allocate Assets” tab, within that specific asset toggle on " Additional instructions" and key in the following:
I give whosoever the guardian of my minor child(ren) a specific gift of SGD 10 000 to be drawn from this asset as a token of my appreciation.
Periodic Gift
To achieve this, you will need to set aside monies in a testamentary trust.
You can add another testamentary trust or ultilise an "existing" testamentary trust in the platform.
Select the trust beneficiary "Whosoever the guardian of my minor child(ren)", the monthly payout amount, and add the following condition accordingly:
Start when he/she assumes the role as guardian of my minor child(ren) but stop when he/she ceases to be the guardian of my minor child(ren) [e.g. when all my children are adults]. This is meant to be a token of my appreciation.
