Coverage
CPF, Insurance, Property
Focus
Estate & Legacy
When someone passes away, their assets, CPF savings, and liabilities are handled under specific Singapore rules. Understanding this helps families avoid confusion, delays, and unnecessary stress.
Core Education
Death Occurs
Process begins
Assets Identified
Bank, investments, property
CPF Handled
Separate from estate
Debts Assessed
Liabilities reviewed
Estate Distributed
To beneficiaries
Accounts Closed
Process complete
Death Occurs
Process begins
Assets Identified
Bank, investments, property
CPF Handled Separately
Does not follow will
Debts Assessed
Liabilities reviewed
Estate Distributed
To beneficiaries
Accounts Closed
Process complete
Key Understanding: Different assets follow different rules. CPF, insurance with nominations, and jointly-held property may bypass the will entirely.
Asset Categories
Understanding how different types of assets are handled after death.
Cash, savings, fixed deposits in your name.
Goes through: Estate
Nomination: No (follows will)
OA, SA, MA, CPF LIFE balances.
Goes through: CPF Nomination or Public Trustee
Nomination: Yes (critical)
Life insurance, accident insurance proceeds.
Goes through: Nominee or Estate
Nomination: Yes (recommended)
Stocks, funds, robo-advisors, brokerage accounts.
Goes through: Estate
Nomination: Some platforms allow
HDB flat, private property, landed.
Goes through: Depends on ownership type
Important: Joint tenancy vs Tenancy-in-common
Company shares, partnerships, sole proprietorship.
Goes through: Estate (complex)
Note: May need business succession plan
Foreign property, bank accounts, investments abroad.
Goes through: Subject to foreign laws
Complexity: May require separate probate
Very Important
CPF savings follow their own rules, separate from your will.
CPF savings identified
Paid directly to nominees
Faster, bypasses estate
Benefit: Nominees receive funds within weeks, not months.
CPF goes to Public Trustee
Distributed under intestacy rules
Delays possible
Risk: Your will does NOT control CPF distribution.
CPF does not follow your will unless nominated.
Make Your CPF Nomination
Ensure your CPF goes to your intended beneficiaries
Insurance Proceeds
Life Insurance
Term life, whole life, endowment
Accident Insurance
Personal accident policies
Critical Illness
If claimable before death
Property Matters
Property ownership structure determines how it passes on.
Property owned by one person only.
Result: Goes into estate, distributed via will or intestacy rules.
Common for married couples.
Result: Surviving owner automatically inherits the whole property.
Owners hold distinct shares.
Result: Your share goes into estate, not automatically to co-owner.
Property structure matters more than people realise. Many assume their property will automatically go to their spouse, but this depends entirely on how the property is held. Check your property title to understand your ownership structure.
Myth-Busting
Common Belief
"Family inherits the debt."
Reality
Debts are paid from the estate, not automatically passed to family.
If there is mortgage protection (HPS or private MRTA), the loan is paid off. Without protection, the estate or co-borrower must continue payments or the property may be sold.
Paid from the estate. If the estate is insufficient, the debt is typically written off (unless there is a guarantor).
Outstanding balance is settled from the estate. Supplementary cardholders are generally not liable for the principal's debt.
Caution: Personal guarantees for business loans can become a liability. The guarantee obligation may pass to the estate.
Key Point: If the estate is insufficient to cover all debts, liabilities are settled up to the estate value. Family members are generally not personally liable for the deceased's unsecured debts.
Practical Guide
Obtain death certificate (multiple certified copies)
Secure important documents (will, insurance policies, property titles)
Locate any safe deposit boxes
Notify banks and request account freeze
Notify insurance companies and initiate claims
Notify CPF Board
Check for CPF and insurance nominations
Identify all assets and liabilities
Apply for Grant of Probate (if will exists) or Letters of Administration
Settle outstanding debts from estate
Distribute estate to beneficiaries
Close accounts and cancel subscriptions/utilities
File final tax return (if applicable)
High Trust Section
Understanding these issues can help you plan ahead.
CPF goes to Public Trustee instead of intended beneficiaries, causing delays.
Your will does NOT control CPF distribution. CPF requires a separate nomination.
Family struggles to locate bank accounts, investments, and policies.
Using deceased's accounts before proper authorization creates legal issues.
Late notification to banks/insurers can complicate claims process.
Joint tenancy vs tenancy-in-common determines how property passes on.
Foreign assets may require separate probate in that jurisdiction.
No list of accounts, passwords, or instructions creates chaos for family.
Many of these issues can be addressed early with clear legacy and family estate planning.
Neutral Framing
Today
Clear Nominations
Clear Instructions
Less Stress for Family
Planning is about clarity, not control.
It is about making things easier for the people you care about during a difficult time.
Thinking beyond today
Legacy planning is not just about documents. It is about clarity, continuity, and care for the people you leave behind.
Understanding what happens to your finances is the first step. Thoughtful legacy and estate planning helps ensure your wishes are clear, your family is supported, and unnecessary stress is avoided.
PM usFor general education and planning discussion only. This page does not constitute legal advice.
Life decisions have financial implications - we help you plan for all of them