What happens to my money when I die without a will? - Seedly
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Anonymous

Asked on 08 Jul 2020

What happens to my money when I die without a will?

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PolicyPal
PolicyPal, Official Account at PolicyPal
Top Contributor

Top Contributor (Jul)

Level 7. Grand Master
Updated on 14 Jul 2020

For a person without a will, you will be considered Interstate. Your estate will then be distributed according to the Intestate Succession Act ( With the exception of Muslims as their estate’s distribution will be governed by the Muslim laws and Syariah Court).

To kickstart the process, one of your next-of-kins will have to apply for a Grant of Letters of Administration. It provides them the authority to act as the administrator of your estate – which in turn allows them to distribute your estate.

We have done a chart to show who will be your beneficiaries in the different scenarios. Do check out our article to find out.​​​

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Question Poster

14 Jul 2020

Thank You!
W
Will
Level 3. Wonderkid
Answered on 10 Jul 2020

Your assets will be divided based on the Intestate Succession Act, as others have mentioned.

To visualise this rule and see how much it would cost to draft your will, check out this article.

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If you are a non-muslim, it will fall under the intestate succession act.

https://sso.agc.gov.sg/Act/ISA1967

If you are a Muslim, the Syariah law applies. " Muslim intestate law, faraid, is provided for under the Administration of Muslim Law Act (AMLA) "

https://singaporelegaladvice.com/law-articles/muslim-inheritance-law-in-singapore/​​​

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Malvin Tan WP
Malvin Tan WP, Writer at t.me/pwpfpodcast
Level 5. Genius
Updated on 08 Jul 2020

The Goblins will cast a spell and it then magically disappears into the Gringotts Wizarding Bank.

But for us muggles...

The government will invoke a law (intestate succession act) to distribute it to your family (% as outlined in the rules) by default, and it ends up in their DBS/UOB/OCBC bank.​​​

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Z
Zac
Level 4. Prodigy
Answered on 08 Jul 2020

It depends on where the money is tied up, if it‘s in a bank account, the bank will transfer the money to your next of kin.

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