3 Things You Need To Do Now | CPF Nomination, Will Writing, LPA
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- Опубліковано 30 лип 2024
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0:00 - Intro
0:00 - Can you don’t do this?
2:02 - CPF nomination
5:27 - Will writing
8:10 - Lasting Power of Attorney
11:10 - Conclusion
estate planning
None of this is meant to be construed as investment advice. It's for entertainment purposes only. Links above include affiliate commission or referrals. I'm part of an affiliate network and I receive compensation from partnering websites.
1 thing to note for CPF nomination is once the nomination is done & the CPF member passes away, the nominee will receive all the member's CPF money in cash.
If the member chooses instead that the nominee receive the member's CPF money in the nominee's OA, SA & MA instead, then the member will have to go down in person to the CPF Service Centre to make the nomination & assign the allocation (how much to nominee's OA / SA / MA) accordingly.
Good video. Some additional considerations:
1) For Muslims, a separate set of rules apply and the Shariah Law supersedes the Intestacy Law.
2) Need to plan for funeral services.
3) Need to ensure insurance policies has nominees as well.
4) Next-of-kin can download death certificate from ICA website to facilitate claims.
5) Apply for Probate and understand the duties of the Executor and how the assets - and in what proportion - are to be distributed to the lawful beneficiaries.
6) Need to inform bank, institutions etc. to redirect payments to new payee, etc. coz life goes on for the family.
Good job Kelvin. Detailed and informative. I trust many will benefit from this! Keep up the good work.
Hi, kelvin, could you talk how to build a family trust? Thanks.
Well done, Kelvin. V gd ideas and suggestions delivered in a bite sized, easy to absorb manner.
The advance medical directive (amd) is also sth to consider.
Thank you Kelvin. Can I ask you what you think of WillMaker for writing out a will?
Another down to earth video
There is advance care plan and advance medical directive to do too
Sponsor: moomoo Futu SG (free stock) kvli.link/moomoo
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► Interactive Brokers kvli.link/ibkr
► Webull (free stock) kvli.link/webull
► moomoo Futu SG (free stock) kvli.link/moomoo
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Hi Kelvin thanks for your information. I have another question, do you have any information about how to manage all the money in cpf, broker and etc if some one decide to migrate?
❤😊 thanks a lot your hard work Kelvin
Gd ep🎉❤
Thanks Kelvin for this vlog. So the OCBC & MoneyOwl will have our will recorded kept with our government office for the disbursement, is it?
Not really. They only let us create the will. After that, we need to keep the will at a place ourselves
Can the witness for will be anyone above 21 including the beneficiaries or executors? No need to go court to make it legal binding?
No need to go to court. As long as u follow the steps it will be legal
Hi Kelvin, I know of someone who is in ard 18k student loan debt and has a diploma in engineering. Any steps he can take or things he can do such as account set up that can help this process of paying back?
I think the CPF nomination online is not a good idea. because anyone with the singpass can do it without the owner's notice,
I thought only owner can do it?
Can we a nominate a LPA age below 21 in advance say 17 and he becomes my LPA after he turns 21?
Cannot, need to be 21 years old and older
Up video at GMT +7? 😅
can i be your godchild? 🤣😅😆😁😄