Emily and Jason are your typical Singaporean family. Years before they passed on, they did a mirror will stating that, along with the cash assets, they will split the 4-room HDB they own to 3 children equally.
Son (Adam): Married, currently staying in a HDB with his wife.
Daughter (Beatrice): Single, owns a condominium.
Daughter (Callie): Married, currently has no house in her and her husband’s name.
You review the deceased couple’s will. What are some problems that will arise?
Visual map of assets and family tree
Tough love?
For Emily and Jason’s cash and equivalents, all children can receive them equally.
Adam and Beatrice, however, will be stuck in a limbo. They will not be able to inherit their share of the HDB, unless it is sold and converted into cash. In Singapore, each family nuclear is only able to own 1 HDB. For Adam, he already has an existing HDB with his wife. For Beatrice, she will need to dispose of her condominium within 6 months of getting her parents’ HDB. If the children are not willing to sell Emily’s and Jason’s HDB, then 100% share of the HDB goes to Callie.
This MIGHT cause arguments and eventually court cases between the siblings, which is not what Emily and Jason would have wanted. To avoid this issue, consulting with an estate planning specialist like WeWills would have saved this trouble.
