Legacy planning tips for women

Legacy planning is of particular importance to women, and they should keep their wills updated and consider setting up trusts to take care of young or vulnerable beneficiaries.
Legacy planning is of particular importance to women, and they should keep their wills updated and consider setting up trusts to take care of young or vulnerable beneficiaries.PHOTO: ST GRAPHIC

Estate planning is especially important for women, and it goes beyond having a will. This is the final of a two-part series on women and financial matters.

Legacy or estate planning used to be confined to the wealthy and, even today, most of us have not drawn up a simple will despite a much higher level of awareness.

Indeed, no more than 15 per cent to 20 per cent of Singaporeans have made a will, according to a survey by Rockwills International Group last year. Rockwills offers services in estate and wealth planning succession.

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A version of this article appeared in the print edition of The Sunday Times on March 11, 2018, with the headline 'Legacy planning tips for women'. Print Edition | Subscribe