Asked by Anonymous
Asked on 07 Nov 2018
We should do a CPF nomination now so that our money would go to only the intended people. We do not know what is going to happen in the future.
30 Nov 2018
This will be part of estate planning (how to distribute your assets), rather than retirement planning. Although consideration can be given to estate planning during retirement planning.
Nominate now if you have the time. And again after u are married. (If divorced, nominate again) Then again when your children are of adulthood.
The nomination becomes void upon marriage and remarriage. Nomination is NOT voided upon divorce, so one might want to renominate unless they which to give their ex-spouse the money.
CPF nomination is extremely important once you have dependents (e.g. children). Our CPF normally forms a sizeable part of our wealth.
I have previously shared an article on Dollars and Sense on Estate Planning which you may read here: https://dollarsandsense.sg/sq368-plane-fire-estate-planning-done/