How do I key in company shares that I own through employee stock options or employee benefit schemes?

First and foremost, you will need to check with your company's HR department how these shares are held.

If you directly own shares in a private company (e.g. you are listed as a shareholder on ACRA), you should list them as though you are one of the business owners, as explained in this article: Can I give away the shares of a private company (limited by shares) when I die?

If you directly own shares in a publicly listed company in Singapore, they will typically be held in your CDP account. You can refer to this article: How do I list/allocate my investments (e.g. shares of publicly listed companies, funds) in the platform?

Typically, shares acquired through employee stock option plans or employee benefit schemes in publicly listed companies are held through an intermediary that administers and manages the shares on behalf of employees.

In such cases, you may add them under the "Other Assets" category and describe them accordingly.

Item name:

All shares in {company} and any other assets held in my account with {the intermediary administering and managing the shares}.

Identifying details:

{account number or participant reference number}

Employee share plans (such as share options or restricted share awards) often come with various conditions, including vesting periods, lock-in periods, forfeiture clauses, and expiry rules. Unless these conditions have been satisfied, the client may not necessarily own all of the shares at the time of death.

Depending on how the company administers its employee share plan and the platform it uses to manage those shares, fully vested shares may automatically be transferred to a separate brokerage or custodian account. If this occurs, it is important to update the Will to reflect the new holding arrangement, particularly if the client has specifically allocated these shares to a beneficiary under the Will.

Furthermore, some share management platforms allow participants to designate beneficiaries directly. Such designations may override the Will and allow the asset to pass outside the estate without going through probate. If the client has made such a designation, the asset should generally not be specifically allocated under the Will.

Note: If the asset is held outside Singapore, different laws and potential estate taxes may apply. For clients with overseas assets, it remains the recommended practice to consult lawyers or will writers in the relevant jurisdiction and consider making a separate Will there.