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Estate Equalization & Liquidity Analysis
i.
When one passes on, his/her assets are heired to his beneficiaries. In an ideal world, the assets distributed will always be in a fair and well-balanced manner. However, that’s rarely the case. Conflicts among beneficiaries often arise due to disagreements in the rightful ownership of the deceased’s assets.
ii.
At Letters & Legacies, we understand this value of fairness and equity for your beneficiaries. Equipped with comprehensive models on your estate planning matters, we are able to devise customizable solutions to meet your asset distribution needs.
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Will Writing & Trusts
i.
Will Writing is one of the essential aspects of Estate Planning. A Will is a legal document that specifies how your assets and possessions will be distributed after your death. It represents your legacy roadmap for your loved ones to follow when you’re no longer around to guide them. Writing a Will is important for ensuring that your wishes are carried out and your loved ones are being well taken care of based on your instructions.
ii.
Not only do we provide Will Writing services, but we are also able to create Trusts as well. When you wish to preserve your values and beliefs to your loved ones upon your death, customizable Trusts can be established for the purpose of legacy preservation. It also safeguards your assets from potential threats like creditors, lawsuits or even irresponsible spending amongst beneficiaries.
iii.
Unlike a Will, a Trust possesses a greater degree of privacy and confidentiality that protects sensitive family information from public scrutiny. In addition, it offers higher levels of flexibility and control. You have the power to pre-determine how assets in your Trusts are being managed and distributed, tailored to meet the needs and circumstances of your loved ones.
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Lasting Power of Attorney (LPA)
i.
Losing mental capacity could sometimes be worse than death itself. In Singapore, 1 in every 4 young adults from the age 18-29 is found to be in poor mental health[1]. The inability to make decisions by yourself due to mental incapacity is truly devastating, and that is where LPA is designed to ease this issue.
ii.
A Lasting Power of Attorney is a legal document that gives you the option to appoint one or more persons to make decisions for you, in the event where you’re unable to do so yourself due to mental incapacity. In Singapore, there are 2 types of LPA forms that can be done. LPA Form 1 provides a generic power to the appointed Donee with standard restrictions. LPA Form 2 provides more a customizable avenue to grant specific powers to the individual Personal Welfare Donees and Property Affairs Donees, At Letters & Legacies, we offer LPA consultation and services to ensure your affairs will be managed according to your wishes.
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Business Value Protection Planning
i.
If you’re a business owner or entrepreneur, one of your crucial considerations is safeguarding the value and potential continuity of your business in the event of divorce, death and disease. Other scenario involves retirement, disability or mental incapacitation.
ii.
Many successful entrepreneurs have over their working lives built up successful businesses, yet many of them do not have any exit strategies. Business succession involves planning for smooth transfer while preserving the businesses’ interests and values.
iii.
There are also other aspects such as protecting the business itself with Keyman protection, protecting the shareholders with Buy-Sell Agreement or protecting family business with Family Governance or Private Trust Companies.
iv.
At Letters & Legacies, we specialize in providing bespoke and extensive Business Value Protection Planning for business owners.
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Corporate Services & Facilitation
i.
Many businesses have seeded in Singapore due to its many attractive economic factors. If you’re an aspiring entrepreneur and intend to establish a business presence here, Letters & Legacies is equipped to provide you with the necessary stakeholders and guidance to accelerate your establishment.
ii.
Apart from establishing an operating company, setting up a holding company is another strategic move to meet estate planning needs such as management efficiency, safeguarding assets from legal and financial threats, smooth transition in succession planning.
Corporate Training & Workshops
i.
At Letters & Legacies, we value education and continuous learning. To expand our educational outreach to more individuals and families, we conduct corporate talks with our partners, as well as organized workshops to further enrich the community with the knowledge of Estate Planning.
ii.
We regularly conduct seminars targeting at the demographics rather than the solutions we have. We reckon that an effective seminar or workshop hinges on identifying the concerns of the audience, instead of merely preaching on the solutions available to anyone.