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Your Legacy – making a difference in the lives that follows…

November 13th, 2014

The joy of living is in the giving…

We all seek a purpose in life and wonder how we can make a positive difference during our brief sojourn here on earth. The answer lies in one word – GIVING. Arthur Ashe once famously said, “From what we get, we can make a living. What we give, however, makes a life.”

When we leave a legacy that makes life better for our loved ones and the needy in our society, it keeps us focus on the “big picture” and helps us experience self-healing, emotional fulfillment and a purpose-driven life. A national study has shown that people in Singapore who donate are more likely to be satisfied and happy with their lives*. Our loved ones would be inspired knowing our values, memories and accomplishments as a result. As for the charities or non-profit organization that receives our legacy gifts, they would be able to devote precious time and resources to pursue their mission rather than spending them on fundraising activities.

*(Source – Subjective Well Being Study 30 Sept 2013 National Volunteer & Philanthropy Centre)

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A Christian approach to Estate Planning … leads a Giver’s heart to Jesus

November 12th, 2009

Does the Bible have specific instructions regarding inheritance, legacies and other matters that are important to our Estate Plan? What distinguishes Christian Estate Planning from a secular one?

From the conversations I had with many of my fellow Christians friends I noticed that there is a general lack of understanding of what Christian Estate Planning is all about. To begin with, a Christian’s “Estate” refers not only to material assets that we leave behind when we passes on, but also to our Christian faith, value and beliefs. We have to plan for the transfer of these spiritual assets as well.

What is so unique about Christian Estate Planning?

Christians need to understand the meaning of Stewardship and how it affacts our Estate Plan. God owns all of our worldly possessions (regardless of how we acquired them)

(i) God owns everything (Ps 24:1) “The world and all that is in it belong to the LORD; the earth and all who live on it are His.”

(ii) Our ability to create wealth is given to us by God (Deuteronomy 8:18) “Remember that it is the LORD your God who gives you the power to become rich.”

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Why I had a Will and Living Trust drawn up?

April 18th, 2009

As a parent with children and elderly parents, I am always concerned of how their lives would be if I were to leave this World suddenly. Who will take care of them? Will my wife be able to cope with taking care of them both emotionally and financially?  Or will she be too distraught to do anything at all? If common disaster happens to me and my wife, who is to take care of my children and parents?

I might not be the best father, son or husband on this earth, but the least I could do is to plan my Estate in such a way to ensure that my loved ones are well taken care of when I am no longer around. Beside my family, I have always wanted to give to my preferred Charities on a long term basis. To do so, I had a Will done together with a Living Trust set up. A life insurance was assigned into my Living Trust to provide for immediate Estate liquidity with a pour over provision in my Will so that a portion of my Residuary Estate will be transferred into my Living Trust. My wife was appointed as the first Executor & Trustee and having Precepts Trustee Ltd (formerly known as Rockwills Trustee Ltd) as the contingent Executor & Trustee.  In my Letter of Wishes, I made provisions for annual payments to my loved ones and designated Charities as well as payouts for medical treatments of my elderly parents and tertiary education funding for my children.

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Will Writing

Trust Planning

Planned Giving