Estate Planning & Inheritance Tax Services In Singapore
Can you imagine the horrors in your beloved kids’ and spouse’s eyes when they face legal difficulties in acquiring what you had left behind for them? You work 30-45 years of your life to leave a legacy behind for the next generation. However, without a proper will or estate planning, your intended loved ones may not get your assets and distribution can be extremely and costly. (See: https://fam1st.com.my/6-pitfalls-writing-will/). That is why you should know a few things about Estate Planning, property and Inheritance Tax in Singapore beforehand.
You can always come to us – Lighthouse Legacy Planners. We are one of the leading independent consultancies for estate planning for families. Our consultants will help you in planning your legacy without focusing much on the technicalities. Instead, we believe in working on passing your values along with your valuables to your beloved ones.
Lighthouse Legacy will shed light on inheritance law for both your assets in Singapore and overseas. So, you will never be in any doubt about estate planning & duty in Singapore!
Inheritance Law in Singapore
Inheritance tax is the same as estate duty in Singapore. In this, a tax will be levied upon a deceased person’s total market value of the assets. All the assets you have under your name are termed as “estate” at death and therefore subject to inheritance tax. You should know that even if you die without a will, the assets (estate) will still be subjected to inheritance tax as per the Estate Duty Act (EDA).
Estate duty was abolished on 15th of February, 2008. So, anyone who dies after the cut-off date mentioned earlier does not have to pay Singapore’s inheritance tax. However, this does not mean Singaporeans are free from all kinds of estate taxes and liabilities.
If you want more details on Singapore’s inheritance law, talk to our consultants at Lighthouse Legacy.
- We will decode the entire inheritance law in Singapore into easy language.
- Similarly, we shall also share about common property taxes in Singapore.
- You can also attend our seminars on estate planning, and it offers great insights on how to leave a defining legacy behind.
So, please hurry up and contact our brilliant and friendly consultants today!
Lighthouse Legacy – Estate Planners In Singapore
You are here looking for an estate planning consultancy because you don’t want the government to encroach upon your wealth and assets, don’t you? Well, estate planning takes much more value in building attributes than just mere drafting of a legal will. Many people think that estate planning is reserved for the elites and the super-wealthy. Unfortunately, this is a misconception that persists in Singapore.
However, this idea cannot be any further away from the truth. Anyone who wishes to distribute their wealth and assets to their children and other family members is ready for estate planning in Singapore.
Our Services – Planning A Legacy For You
Since we started our practice back in 2010, we have established ourselves as one of Singapore’s top estate planning consultancies. So whether you want to know Singapore’s estate duty in detail or want to draft a fresh estate in your name, we can help you out. Our consultants have served clients from 10 countries around the world and set up more than 200 trusts as well. Furthermore, we have more than 50 workshops/seminars in our name since we first stepped into this business.
Interested to know how we engage with our clients regarding estate duty and inheritance law in Singapore? Then stay with us!
- Conducting Seminars: Usually, we conduct seminars or a half-day workshop for our potential clients. In this program, instead of focusing on the legalities of estate planning in Singapore, we emphasise on learning and self-discovery. We dole out valuable and practical tips that help them kickstart their will and estate planning journey.
- One-on-One Consultation: Next comes the counselling with our expert consultants. In this, we discuss everything from your assets to your relationship with your family members. So, we could get the gist of your legacy while examining these factors in-depth. And what’s more, our first consultation is free.
- Signing Up: Finally, as soon as we are confident that we can add value to your legacy, we will give you our letter of engagement. Usually, the whole process, from onboarding, estate planning, and the final legal draft, will take 1-2 months or more depending on complexity. To ensure that everything in the estate planning goes as per your wishes, we also rope in specialists in wealth management, taxes and business laws.
Call us today for an expert estate planning consultancy in Singapore!