A list of all your assets.
A list of your liabilities. You must state how you
want your debts to be paid off before your assets are distributed to the beneficiaries.
You should state the person(s) or organisation(s)
('Beneficiaries') to whom you wish to give away your
property and assets, and how much each one is to receive. For example, you may give away
car, shares, insurance policies, bank accounts, cash and jewellery to family members,
The Executors (to carry out your Will). A Beneficiary may
The Advisors (lawyers, accountants, etc).
A revocation clause to revoke any and all other Wills.
A residual clause that distributes any remainder of your
according to your wishes. For example,
if a beneficiary dies before you, the assets bequeathed to him becomes the remainder.
Not all assets can be distributed.
Money in your Central Provident Fund (‘CPF’) cannot be
in a Will (see next paragraph).
Property held in joint tenancy is also excluded, as the
owner has the legal right to take full
Other excluded assets are cash in joint savings accounts, and
insurance monies with a nominated