Legacy planning in Singapore: wills, nominations, trusts and life policies

Singapore law, and guidance from IRAS, the CPF Board, the Family Justice Courts and MUIS, as at 21 October 2026. This is a map of the tools and how they fit together, not advice on any family's plan.

PPLI.com is a research publisher, not an insurer, broker or financial adviser, and is not licensed by the Monetary Authority of Singapore. Nothing here is an offer of insurance. To buy a policy, deal with an insurer or adviser licensed or exempted by MAS and check it on the MAS Financial Institutions Directory.

Start with what Singapore does not tax

IRAS states that estate duty has been removed for deaths on and after 15 February 2008, and the Ministry of Finance has said plainly that Singapore does not have a capital gains tax. For a family whose people and assets are all in Singapore, there is no death tax to plan around. Anyone selling a structure to save Singapore estate tax is solving a problem that no longer exists.

The work is therefore practical: who gets what, who controls it, how fast the family can reach it, and what changes when a person or asset is abroad, which is where foreign tax comes in.

Every asset has its own route

A will does not control everything. Assets reach the next generation through separate channels, each with its own rules:

• The estate: sole-name assets such as a private property, shares, a bank account or a business. These pass under the will or, failing one, the Intestate Succession Act 1967 (Muslim law for a Muslim), usually after a court grant.
• CPF savings: outside the estate, passing by CPF nomination.
• Nominated life policies: paid to the nominees or trustees rather than under the will, where there is a valid nomination under the Insurance Act 1966.
• Joint assets: property held as joint tenants, and joint accounts on the bank's terms, pass to the survivor.
• Trust assets: these follow the trust deed.

A will dividing everything equally between three children can produce a very unequal result if the largest asset is a flat held jointly with one of them.

The will

Under the Wills Act 1838, a will must be in writing and signed at the foot or end by the testator (or by someone in the testator's presence and at their direction). The signature must be made or acknowledged before two or more witnesses present at the same time, who then sign in the testator's presence (s 6). A will made by someone under 21 is not valid (s 4). Marriage revokes an existing will (s 13), unless the will is expressed to be made in contemplation of that marriage.

A will reaches only the estate, and the executor still needs a grant of probate before sole-name assets are released. A parent can also appoint a guardian for young children by will (Guardianship of Infants Act 1934, s 7), and a will can create a testamentary trust, for example holding a child's share until 30, which is often the simplest way to keep control after death.

The Lasting Power of Attorney

A will speaks at death. Many families first face a parent who is alive but cannot decide. Under the Mental Capacity Act 2008, a donor aged at least 21, with capacity when signing, may appoint donees to decide on personal welfare, property and affairs, or both, once the donor lacks capacity (s 11). The LPA must be registered with the Public Guardian.

My Legacy lists the Form 1 fee as free for citizens, S$30 for permanent residents and S$160 for foreigners, plus a certificate issuer's fee. Without an LPA, the family may have to apply to court, which can make the decision itself or appoint a deputy (s 20).

CPF nomination

The CPF Board says CPF savings are excluded from the estate and "cannot be covered by a will", including an Islamic will. Nominees receive the money relatively quickly and without administrative fees. Without a nomination, the savings go to the Public Trustee's Office, which distributes them under intestacy law (or, for Muslims, according to the inheritance certificate) for a fee. For Muslim members, the CPF Board says the process, which needs an inheritance certificate from the Syariah Court, can take up to six months. Marriage automatically revokes a CPF nomination; divorce does not.

Insurance nominations: section 132 and section 133

The Insurance Act 1966 lets the owner of a "relevant policy" decide who receives the death benefits, outside the will. A relevant policy (s 131, formerly s 49K) must be issued by a licensed insurer, be governed by Singapore law, provide death benefits and insure the owner's own life. A policy from an insurer not licensed here, or governed by foreign law, is outside these rules. Our article on trust and revocable nominations has the detail.

• Trust nomination (s 132, formerly s 49L). An owner aged 18 or over may nominate a spouse, children, or both. The nomination creates a trust; the moneys do not form part of the estate and are not subject to the owner's debts (s 132(4)), unless the policy was taken out with intent to defraud creditors, who may then recover a sum equal to the premiums (s 132(5)). Revoking it needs prior written consent, from the trustee or the nominees as s 132(7) sets out.
• Revocable nomination (s 133, formerly s 49M). Anyone may be nominated, and the owner may revoke it at any time. It is treated as revoked if the owner assigns or encumbers the policy, makes a later nomination, or makes a later will dealing with all the death benefits with the particulars MAS prescribes (s 133(7)). Section 133 has no creditor shield.
• No nomination (s 150). Where there is no nomination and no will dealing with the policy that the insurer has been told of, the insurer may pay a "proper claimant" (an executor, or a widow, widower, parent, child, brother, sister, nephew or niece who claims entitlement) without a grant, up to an aggregate amount prescribed by MAS across that insurer's policies on the life. MAS has prescribed S$150,000 in regulation 7 of the Insurance (General Provisions) Regulations, and the Life Insurance Association Singapore gives the same figure, with the rest paid to the administrator of the estate.

If there is no will: the Intestate Succession Act

For a non-Muslim who dies without a valid will, s 7 of the Intestate Succession Act 1967 fixes the shares. The Act does not apply to the estate of a Muslim (s 2). Under s 4, it governs immovable property in Singapore wherever the deceased was domiciled, while movable property, such as shares and bank balances, follows the law of the country of domicile. The table therefore applies in full to someone domiciled in Singapore.

The rules ignore a business one child runs or a child with special needs, and hand assets outright to children of any age.

Joint accounts and joint tenancy

Under joint tenancy, a deceased owner's interest passes automatically to the surviving owners. Under tenancy in common, each owner's distinct share passes under the will or intestacy rules. The Family Justice Courts list an HDB flat held as joint tenants with no outstanding mortgage, and certain bank accounts within the bank's guidelines, among assets that may not need a grant. Survivorship is quick but blunt: adding an adult child to a title or account for convenience may hand that child the whole asset, or start a dispute over whether a gift was ever intended.

Trusts and private trust companies

A lifetime trust moves assets out of the estate now, under a deed that can run for decades, for example capital to children only at 30. It is the main tool for control after death. Some families add a private trust company so that family members sit on the trustee's board.

Carrying on trust business in or from Singapore needs a licence under the Trust Companies Act 2005 (s 3), unless an exemption applies. A private trust company that serves only a specific trust or trusts, meets the connection tests for settlors and beneficiaries and does not serve the public is exempt under regulation 4(1)(a) of the Trust Companies (Exemption) Regulations, but must engage a licensed trust company for the anti-money-laundering checks MAS requires (reg 4(2)).

Muslim estates

For a Muslim domiciled in Singapore, the Administration of Muslim Law Act 1966 applies. A will must follow the rules of the person's school of Muslim law (s 111), and an intestate estate is distributed according to Muslim law, as modified where applicable by Malay custom (s 112). The Syariah Court may issue an inheritance certificate certifying who is entitled to share in the estate and in what shares (s 115). The intestacy table above does not apply (Intestate Succession Act 1967, s 2). Section 111 also states that it does not affect the Insurance Act 1966.

MUIS states that a valid wasiat should give no more than one-third of the assets, and only to beneficiaries who would not receive through faraid. MuslimSG, a community site (secondary), gives examples such as an adopted child, a stepchild or non-Muslim parents, and says the remaining two-thirds generally follows faraid unless all the heirs consent. Outside the estate, MUIS states that a CPF nomination is permitted as "a new form of hibah", a gift, and describes a revocable insurance nomination as a contemporary form of hibah. Its fatwa on revocable insurance nomination records that an earlier 2007 fatwa had allowed only irrevocable nominations, and stresses that the deceased's debts must be settled first, whether assets pass by faraid, will or nomination. The Life Insurance Association's nomination guide says Muslim policy owners can make both trust and revocable nominations. Whether a particular arrangement suits a family's religious obligations is a question for MUIS or the Syariah Court, not for us.

Probate, letters of administration and resealing

The Family Justice Courts issue a grant of probate where there is a valid will, and letters of administration where there is none. MoneySense says estates under S$5 million generally go to the Family Courts and the probate process may take three to six months. For an estate of not more than S$50,000, the Public Trustee may administer it without a grant if the criteria are met.

Under s 47 of the Probate and Administration Act 1934, a grant from a court of probate in any part of the Commonwealth, or from a country the Minister has declared by gazette notification, can be resealed in Singapore and then has the same effect as a Singapore grant. The court may ask for evidence of domicile. Other foreign grants need a fresh Singapore application. See probate across borders.

Assets abroad and heirs abroad

Singapore's lack of estate duty does not travel. Foreign tax can reach a Singapore family through assets located abroad, or through the deceased or an heir being connected to another country.

• United States. A US citizen in Singapore stays within US estate tax; the IRS lists a 2026 filing threshold of US$15,000,000. For a non-resident non-citizen, a return is required if US-situated assets, such as US real estate and US company shares, exceed US$60,000. The IRS treats life insurance proceeds on such a person's life as situated outside the US. See US citizens in Singapore.
• United Kingdom. Since 6 April 2025, someone UK resident for at least 10 of the previous 20 tax years is within inheritance tax on worldwide assets, and the status continues for between three and ten years after leaving, depending on how long the person was resident. Others are charged only on UK assets, at 40% above £325,000. See leaving the UK for Singapore.
• Japan. Japan taxes the heir. Under the National Tax Agency's rules, an heir with an address in Japan is generally taxed on all property inherited, wherever it is, and some heirs living abroad are caught too. The NTA says a death payout on a policy the deceased paid for falls under inheritance tax.
• India, China and Australia. Here the issue is mostly the heir's income tax and reporting: see returning to India, mainland Chinese families and Australians in Singapore.

Family business shares

Private company shares pass under the will or intestacy like any estate asset. Intestacy splits them between a spouse and children, whether or not they work in the business. The usual answers are a will or trust giving voting control to the child who runs it and other value to the others, an updated constitution, an LPA, and cash to equalise between heirs or fund a buy-out. That last need is where life insurance most often comes in.

Matching tools to goals

No tool scores well on every goal. A general comparison:

Where a life policy adds something, and where it adds nothing

A life policy can help in four ways:

• Liquidity at death, outside the estate. A nominated policy pays without waiting for a grant, funding a household or foreign estate tax while probate runs.
• Equalisation between heirs. Where one child takes the business or the home, a policy payable to the others balances the shares without a sale.
• Creditor protection through a trust nomination. For an owner who gives personal guarantees, s 132(4) keeps the payout from the owner's debts, subject to the fraud exception. See creditors and a life policy.
• One contract across countries. With heirs in several countries, one policy with named beneficiaries can be simpler than several estates, though each heir's country still decides the tax in their hands.

It adds nothing on Singapore death tax, because there is none, and a Singapore-only family saves no Singapore tax by holding investments inside a policy. A nomination pays out but does not manage, so control after death still needs a trust. A policy from an insurer not licensed here, or under foreign law, cannot use ss 132 and 133, and a policy from an insurer not licensed here is also outside the Policy Owners' Protection Scheme (see insurer failure). And charges, plus financing costs on large policies, can outweigh the benefit for a family that needs only a will, an LPA and current nominations.

For policy types, see universal life, IUL, VUL and PPLI, life insurance for high-net-worth families and premium financing. Our break-even tool helps test the cost.

Worked examples

Hypothetical, with invented names. They show what the published rules point to, not what a court would do.

Example 1: Mr Goh, no will

Assumptions: Mr Goh, a non-Muslim citizen, dies intestate leaving a wife and two adult children. He owns a S$2,400,000 condominium and S$600,000 in a bank account, both in his sole name, CPF savings nominated to his wife, and a policy from a licensed insurer paying S$500,000 with no nomination.

What the rules point to: the CPF savings go to his wife outside the estate. The condominium and account pass half to his wife and a quarter to each child, after letters of administration. The insurer may pay a proper claimant up to the prescribed amount (S$150,000), with the balance to the administrator and so into the same shares.

Example 2: Mrs Lim, a business and three children

Assumptions: Mrs Lim, a widow, owns a Singapore trading company worth S$9,000,000, run by her son, and S$3,000,000 of investments. Her two daughters, one living in London, are not in the business. She wants the son to have the company and each child to receive equal value.

What the rules point to: leaving the company to the son and the investments to the daughters gives each daughter S$1,500,000 against his S$9,000,000. To bring each daughter up to S$9,000,000 needs a further S$7,500,000 each, S$15,000,000 in all. One option is a policy on her life of that size with a trust nomination for the daughters, paying outside the estate and, subject to the fraud exception, beyond her debts under s 132(4). A smaller policy narrows the gap without closing it. An LPA would cover the separate risk of her losing capacity while the company still needs decisions.

Example 3: Mr Rahman, faraid and a stepdaughter

Assumptions: Mr Rahman, a Muslim domiciled in Singapore, has a wife, two sons and a stepdaughter he raised, with S$800,000 in his sole name and S$300,000 in CPF.

What the rules point to: his estate follows faraid by inheritance certificate, and the stepdaughter, not a faraid heir, takes nothing unless he provides for her. A wasiat can leave her up to one-third, after debts. A CPF nomination in her favour, which MUIS treats as hibah, sits outside the estate.

A legacy planning checklist

1. List every asset by channel: estate, CPF, nominated policy, joint ownership or trust.
2. Make or update a will, especially after marriage.
3. Make an LPA covering property and affairs, and personal welfare.
4. Check your CPF nomination after any marriage or divorce.
5. For each policy, check the insurer is licensed here, the policy is under Singapore law, and a nomination is in place.
6. Check whether survivorship on property and accounts gives the result you want.
7. For each heir and asset abroad, ask which foreign tax or probate rule applies.
8. For a family business, align the will, the constitution, any shareholders' agreement and a source of cash.

Where this sits

This is the main guide in our succession planning section. The detailed articles cover insurance nominations, probate across borders and trusts compared with life policies. For tax, start with inheritance tax and Singapore and the tax efficiency page. See also 13O, 13U or a life policy, asset protection, CRS reporting of a life policy and what a policy can hold. For what PPLI is and when it suits a Singapore resident, see private placement life insurance in Singapore; the Singapore home page lists everything else, including our liquidity event planner. If you have a question about the research, ask a Singapore research question.

Legacy planning in Singapore: questions

Is there inheritance tax or estate duty in Singapore?

No. IRAS states that estate duty was removed for deaths on and after 15 February 2008, and there is no inheritance tax. Foreign taxes can still apply to assets located abroad or to heirs living abroad.

Does my will cover my CPF savings?

No. The CPF Board states that CPF savings are excluded from the estate and cannot be covered by a will, including an Islamic will. Without a CPF nomination, the Public Trustee's Office distributes them for a fee; for Muslim members the CPF Board says this can take up to six months.

What happens if I die without a will in Singapore?

For a non-Muslim domiciled in Singapore, the Intestate Succession Act 1967 decides. A spouse with children takes half and the children share the other half. A spouse with parents but no children takes half, and the parents half. The estate of a Muslim domiciled in Singapore is distributed according to Muslim law (faraid) under the Administration of Muslim Law Act 1966.

What is the difference between a trust nomination and a revocable nomination?

A trust nomination under section 132 of the Insurance Act 1966 (formerly section 49L) can benefit only a spouse or children, keeps the money out of the estate and away from the owner's debts, and needs consent to revoke. A revocable nomination under section 133 (formerly section 49M) can name anyone and be changed at any time, but gives no creditor protection.

Do I need a Lasting Power of Attorney if I have a will?

Yes, if you want to choose who acts for you while you are alive but lack capacity. A will only takes effect at death. Without an LPA, your family may have to apply to court under the Mental Capacity Act 2008.

How do I pass wealth to children living overseas?

The Singapore tools work the same way, but the child's country may tax what they receive or later earn on it. Japan, for example, can tax a resident heir on inherited property wherever it is. Check each heir's country before choosing a will, a trust or a nominated policy.

Sources and authorities

Statutes (laws.sg mirror of Singapore Statutes Online; official text at sso.agc.gov.sg): Wills Act 1838 s 6, s 4, s 13; Intestate Succession Act 1967 s 7, s 4, s 2; Guardianship of Infants Act 1934 s 7; Mental Capacity Act 2008 s 11, s 20; Insurance Act 1966 s 131, s 132, s 133, s 150; Probate and Administration Act 1934 s 47; Administration of Muslim Law Act 1966 s 111, s 112, s 115; Trust Companies Act 2005 s 3, s 15; Trust Companies (Exemption) Regulations; Insurance (Nomination of Beneficiaries) Regulations 2009.

Official guidance: IRAS: estate duty; Ministry of Finance: capital gains; CPF Board on wills, Islamic wills and nomination notes; My Legacy: LPA fees; Family Justice Courts on probate and administration and letters of administration; MoneySense: probate; MUIS on nominations, wasiat, the fatwa on revocable insurance nomination and home ownership; LIA Singapore: making a claim and Your Guide to Nomination of Insurance Nominees (2026); Insurance (General Provisions) Regulations, reg 7 (laws.sg mirror). Foreign: IRS on nonresidents with US assets and estate tax; GOV.UK on inheritance tax and deaths outside the UK; HMRC IHTM47020; Japan NTA on inheritance tax and gift tax. Secondary: MuslimSG on faraid and wasiat.

Research checked 21 October 2026 against the statutes and official pages linked above. Our editorial standards explain how errors are corrected.

PPLI.com is not licensed by the Monetary Authority of Singapore and does not give financial advice. This is general information about Singapore law and other tax systems, not an offer or invitation to enter into any contract of insurance. Policies issued by insurers not licensed in Singapore are not covered by the Policy Owners' Protection Scheme or by the nomination rules in the Insurance Act 1966.