We begin by learning about the different types of property ownership where sole ownership, joint tenancy and tenancy-in-common are compared.
The type of property ownership is examined in detail with regard to the acquisition, management and divestment of property from a legacy planning perspective. Depending on the objectives of the property owner, he may consider besides joint tenancy and tenancy-in-com, strategies such as 99/1, decoupling and buying in trust.
Writing a will is essential for a property owner. Intestacy often create unwanted or unexpected consequences for the estate and the beneficiaries of the property. We look at the specialised will planning that can be used where the property is located overseas and where foreigners own Singapore property.
The estate administration of a person’s property when a person passes away is examined through the process of probate and letters of administration, including the court process, how property is specified in the schedule of assets and subsequently transferred.
Due to the high percentage of divorce in Singapore, the effects of divorce on property ownership are considered. We discuss different divestment options for properties such as through sale, transfer and retention.
Finally, through the Lasting Power of Attorney, we look at how property is dealt with when the owner loses mental capacity. The options that property owners have with Form 1 and Form 2 can have significant impact on how properties are dealt with.
Trainees will gain practical knowledge from actual case studies to guide their clients in their estate planning. The trainer is not only an accomplished estate planning practitioner in the legal field but he is also excellent at simplifying and communicating technical content.