Estate Planning in Singapore: Why a Will Is Not Enough (2026)
Over 60% of Singaporeans have no will. Of those who do, most do not know that their CPF savings — often S$100,000–S$500,000 — are not covered by that will. This guide closes the gap.
The four pillars of a complete Singapore estate plan
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1. Will
Covers assets in your personal name: bank accounts, property, shares. Does NOT cover CPF or insurance with a named beneficiary.
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2. CPF Nomination
Separately directs your CPF savings (OA, SA, MA, RA). Must be filed with CPF Board. Without it, the Public Trustee decides.
⚠️ Most commonly missed
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3. Lasting Power of Attorney
Protects you during your lifetime — appoints someone to manage finances and welfare decisions if you lose mental capacity.
⚠️ Most commonly missed
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4. Trust (for HNW)
Holds assets for beneficiaries on specified conditions. Common for minors, special needs, international families, multi-generational wealth.
CPF nominations: the most overlooked asset in Singapore
Your CPF savings are not part of your estate. They are not covered by your will. When you die, CPF savings are distributed by the CPF Board according to your nomination — or, if you have not made one, by the Public Trustee's Office under the Intestate Succession Act.
The Public Trustee process takes 6–12 months and charges fees. A CPF nomination costs nothing and can be done online at cpf.gov.sg/nomination in 15 minutes.
Action item: Log into my.cpf.gov.sg → "My Nominations" → check if you have a valid nomination. Update it after any major life event (marriage, divorce, birth of child).
Important: CPF nomination is automatically revoked upon marriage (under the Wills Act). You must re-nominate after getting married.
The Lasting Power of Attorney (LPA): plan before you need it
An LPA can only be made while you have mental capacity. Once you have dementia or a stroke, it is too late. Singapore's LPA system, run by the Office of the Public Guardian (OPG), is streamlined:
- LPA Form 1 (basic, most common): S$75 online via MyInfo, witnessed by a certificate issuer (doctor, lawyer, or psychiatrist).
- LPA Form 2 (customised powers): For complex situations — typically requires a lawyer (S$500–S$2,000).
Without an LPA, your family must apply to court for a Deputyship Order — a process that costs S$2,000–S$10,000 and takes 6–18 months.
Insurance beneficiary nominations: separate from your will
Life insurance policies with a revocable nomination form part of your estate (covered by your will). Policies with an irrevocable nomination or a trust nomination (Section 49L of the Insurance Act) are paid directly to the named beneficiaries and bypass probate.
Review your insurance policy documents — many people have no nomination, or an outdated one (e.g. an ex-spouse).
When does a trust make sense?
- Minor children: A testamentary trust in your will holds assets until children reach a specified age (e.g. 25).
- Special needs beneficiary: Trusts ensure ongoing financial care without disqualifying the beneficiary from government assistance.
- HNW / multi-generational: A discretionary trust can manage distributions across generations, reduce estate concentration, and provide asset protection.
- International families: A Singapore-based trust can hold global assets and is recognised in most common-law jurisdictions.
The estate planning checklist
Write or update your will
S$300–S$1,500 (lawyer)
File a CPF nomination (or verify it is current)
Free
Register an LPA
S$75 (Form 1)
Check insurance beneficiary nominations
Free (call your insurer)
Update joint account instructions (survivorship clause)
Free (bank visit)
Consider a trust if you have minor children or complex estate
S$5,000–S$30,000+
FAQ
Does a will cover CPF savings in Singapore?
No. CPF savings do not form part of your estate and must be nominated separately via the CPF Board. Without a nomination, distribution is handled by the Public Trustee — a slow, costly process.
What is a Lasting Power of Attorney (LPA)?
An LPA lets you pre-appoint a trusted person to manage your finances and welfare decisions if you lose mental capacity. It costs S$75 and must be registered before incapacity. Without it, family members must go to court for a Deputyship Order.
When do I need a trust?
Consider a trust if you have minor children, a special needs beneficiary, assets in multiple countries, or a complex family situation. Most Singaporeans with investable assets above S$500,000 benefit from at least a basic estate plan review with an IFA and a lawyer.
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