Against the backdrop of Singapore under Phase 2 of Covid-19, PreceptsGroup International hosted guests and speakers at Sofitel Singapore City Centre for our Inaugural Estate Planning and Wealth Succession Forum on 26 and 27 October 2020. During the 2-day conference, 17 topics specializing on issues surrounding estate planning and wealth succession were shared by 41 speakers from a regional and global perspectives.
With the aging population in Singapore, there is a rising concern for risk of lack of mental incapacity due to illness and old age. The Mental Capacity Act came into effect in 2010 and it has laid down the principles of what is mental capacity and what may cause the loss of mental capacity.
The biggest stumbling block to writing a will is taking that first step to face the fact that we all die someday. It is not easy for people, especially those who are younger, to wrap their heads around that idea. This causes them to procrastinate about doing up a will, or put it off completely.