Peter Cat blogs

Jump to Comments

Chanced upon this local site which would be tremendously useful for long view financial planning… leaving money and instructions behind on providing your child/ren with a good education and ensuring your spouse and family are well provided for, for a while at least while they cope with your absence, physically and financially.

click here for FAQ and will template

(there are also many local sites that provide a wealth of information on interstate succession act and will/estate planning.)

In my past stint in bancassurance, it is funny to me how husbands and wives hide knowledge of policies from each other, and aged mothers keep the policy document, under lock and key for fear the new China wife will take the money once her son dies, leaving her unprovided for. Worse, blue collar workers/sole-breadwinners with 5 young children, totally dependent on company insurance and CPF’s Dependent Protection Scheme, leaving it all to ‘fate’. Ignorance is blight!

I think no matter how much or how little money you think you have, it is only responsible to have it all ’sorted out’ less the conflicts and arguments that can ensue posthumous (and which can never quite be resolved,obviously). You can also state your preference in your funeral theme, setting, music etc and the distribution of your pretty assets like clothes and jewelleries; and who will look after your meow meow and woof woof, less they end up in SPCA or worse.

And after speaking to many seniors who like to hover around the bank, they will buy capital guaranteed products or place their hard-earned savings in time deposits, naming their favourite child or grandchild as trustee/co-account holders, to leave them with some money ‘just in case’, so that they will always be remembered fondly. Money does play a part in keeping a family together, and it shows your love in the most fundamental ‘i love you and thus want to care for you beyond my mortality’ way.

Happily ever after, even without us.