How to structure conditional gifts for substitute Executors in your Will?
In Singapore, the court can at its discretion allow the Executor(s) to be paid a commission of up to 5% of the assets collected by them.
Source: Singapore Statutes Online website, Probate and Administration Act 1934
It is not mandatory to put in your Will instructions to offer some commission as this can be applied by the Executor to the court. If you do specify something to be given to your executor, please take note of the following:
- Your executor(s) may still apply to Court for a commission not exceeding 5% on the value of the assets collected by them.
- This might make the Executor a beneficiary as well since practically you are giving something to him/her in your Will and thus he/she and his/her spouse should not be a witness to the Will.
- Any fees arising from the process (e.g. accounting fees, funeral expenses, applying for the Grant of Probate) will still be paid out from your estate.
Take an example of your husband being your first choice as Executor, with your brother and sister named as substitute Executors. You have already left a part of your estate to your husband and do not wish to provide him with any additional gifts (as commission for his services). However, should he refuse or be unable to act, you may choose to give a specific gift to whichever substitute Executor takes on the role.
Gift is drawn from Residual Assets
Under "Select Clauses >> Other Instructions", key in the following:
Should my {Relationship}, {Name of Main Executor}, {Identification Number/details}, refuses to act or is unable to act as my Executor, I give whosoever assumes the role of Executor of my Will a specific gift of {Currency}{Amount}, to be drawn from my Residual Assets, as commission for his/her services.
If the intention is for the gift to be extended to specific substitute Executor(s) but to exclude any other person, you will need to name the relevant individuals accordingly and include a clause that expressly states the exclusion of all others.
Should my {Relationship}, {Name of Main Executor}, {Identification Number/details}, refuses to act or is unable to act as my Executor, I give to whichever one of the following assumes the role of my Executor:
- my {Relationship}, {Name of Substitute Executor 1}, {Identification Number/details};
- my {Relationship}, {Name of Substitute Executor 2}, {Identification Number/details};
...
a specific gift of {Currency}{Amount}, to be drawn from my Residual Assets, as commission for his/her services. This commission shall not extend to any other person who assumes the role of my Executor.
Gift is drawn from a specific asset
Under the “Allocate Assets” tab, within that specific asset toggle on " Additional instructions" and key in the following:
Should my {Relationship}, {Name of Main Executor}, {Identification Number/details}, refuses to act or is unable to act as my Executor, I give whosoever assumes the role of Executor of my Will a specific gift of {Currency}{Amount}, to be drawn from this asset, as commission for his/her services.
OR
Should my {Relationship}, {Name of Main Executor}, {Identification Number/details}, refuses to act or is unable to act as my Executor, I give to whichever one of the following assumes the role of my Executor:
- my {Relationship}, {Name of Substitute Executor 1}, {Identification Number/details};
- my {Relationship}, {Name of Substitute Executor 2}, {Identification Number/details};
...
a specific gift of {Currency}{Amount}, to be drawn from this asset, as commission for his/her services. This commission shall not extend to any other person who assumes the role of my Executor.
depending on which the clause you need.
