Treatment of Assets

Mr Tan has a bank account with DBS Bank under his name. He likes to give the balance in his bank account to his classmate when he dies.

Does Mr Tan has the discretion to distribute his bank balance to his classmate?

• Yes

• No

Mr Goh intends to nominate APSN (Association for Persons with Special Needs) as one of the beneficiaries for his CPF balance.

Does Mr Goh has the discretion to distribute his CPF money to APSD?

• Yes

• No

Mr and Mrs Tan owned a property under joint tenancy. Both of them intend to leave their share of the property to their children upon the death of either of them.

Does Mr and Mrs Tan has the discretion to distribute their own share to their children upon the death of either of them.

• Yes

• No

Mr Tan likes to distribute his insurance proceed to all his family members (wife, children, parents, auntie, uncle, niece and nephew) in equal share upon his death.

Does Mr Tan has the discretion to distribute?

• Yes

• No

Mr Tan bought a insurance policy and nominated his wife as the sole beneficiary under Section 49L of the Insurance Act. Mr Tan is writing his Will and likes to distribute the insurance policy to include his two children as beneficiaries.

Does Mr Tan has the discretion to distribute the insurance policy to his two children under the Will?

• Yes

• No