How to navigate legacy planning in Singapore

Legacy planning matters for all Singaporeans. As much as it's about transferring your assets in efficient, harmonious ways, it's also about transferring your vision and values for a lasting legacy.

Many people mistakenly think that legacy planning is only for the very wealthy or elderly, but that's not true. We’ll explain what a legacy plan is and why it's important for everyone, at any stage of life. Learn how MyLegacy@LifeSG makes legacy planning accessible and straightforward for you.

Key takeaways

• Legacy planning is a comprehensive process that includes both estate and care planning to ensure your assets, healthcare preferences, and values are managed according to your wishes in the event which you lose mental capacity or pass on.

• By legacy planning, you can prevent family disputes, avoid unnecessary legal and administrative costs, protect family members, and ensure your personal and medical wishes are known and respected.

• A recommended legacy plan should include a Will, CPF nomination, Lasting Power of Attorney (LPA), and Advance Care Planning (ACP).

• Legacy planning should not be delayed, as unexpected events can happen at any time. It's a proactive step that gives you full control and should be revisited after major life milestones.

• MyLegacy@LifeSG simplifies legacy planning. It serves as a centralised hub for all legacy planning tools, offering step-by-step guidance, e-services for LPA and ACP, and integration with Singpass for a convenient and seamless user experience.

• A legacy plan is not a one-time task but a living document that should be revisited and updated as your life and circumstances evolve.

What is legacy planning?

Legacy planning is a process where you document and convey your preferences and decisions on various matters such as your care, welfare and finances to allow for these to be known and respected when you’re no longer able to make decisions—either due to unexpected incapacity or following your passing.

Why is legacy planning important?

Legacy planning is an essential act of foresight and care for your loved ones. With proper legacy planning, you can potentially:

Avoid family disputes and uncertainty

Proper legacy planning helps prevent misunderstandings or legal conflicts among family members during difficult times. It ensures your exact wishes are clearly documented and respected, even when you're unable to communicate or make decisions yourself, providing much-needed clarity and peace of mind for everyone involved.

Avoid extra costs

Without a clear legacy plan, your loved ones could face lengthy legal processes—like the need to apply for deputyship to become a court-appointed deputy. A deputy is appointed by the court to make specific decisions for someone who lacks mental capacity, in cases where the person has not set up a Lasting Power of Attorney (LPA) and does not have a Donee to act on their behalf. This could incur significant legal fees and administrative costs for the affected family.

Proactive planning also allows you to structure your assets efficiently, minimise unnecessary expenses, and ensure more of your wealth passes directly to your intended beneficiaries, preserving your hard-earned assets.

Protect vulnerable family members

Legacy planning allows you to make specific provisions for vulnerable family members, such as young children, persons with special needs, or elderly dependents. You can establish trusts, appoint guardians, or allocate specific funds to ensure their continued care and financial stability, even if they are a non-immediate family.

Make your wishes known

Legacy planning also ensures your personal values, specific healthcare and medical preferences, and detailed financial instructions are clearly documented and respected. This empowers you to express your desires regarding healthcare decisions, funeral arrangements, and the distribution of cherished personal belongings, providing clarity and comfort to your loved ones.

The complete legacy planning checklist

You can access all the necessary tools and resources to make legacy planning easier at MyLegacy@LifeSG. A recommended legacy plan should include the following:

1. Will

A will is a legal document that dictates how your assets will be distributed upon your death. It allows you to appoint an executor, name beneficiaries, and specify guardianship for minors, ensuring your final wishes are legally honoured.

2. CPF nomination

A CPF nomination specifies how your CPF savings should be distributed upon your death. Unlike assets covered by a will, CPF monies are distributed according to your nomination, ensuring these funds reach your intended beneficiaries directly and efficiently.

3. Lasting Power of Attorney (LPA)

A Lasting Power of Attorney (LPA) is a legal document that allows you to appoint someone you trust (known as a Donee) to manage your personal welfare along with property and affairs matters if you lose mental capacity and are unable to make decisions for yourself.

4. Advance Care Planning (ACP)

Advance Care Planning (ACP) is an ongoing process of planning and preparing for your future health and personal care. ACP is a broad plan that may include the extent of medical treatment administered, pain control options, and other healthcare preferences. It is important to complete your ACP early as everyone is likely to have wishes and preferences concerning how you want to be treated medically when you are not able to speak for yourself.  Now, ACP is easier with MyLegacy@LifeSG’s myACP tool, jointly developed with the Agency for Integrated Care (AIC) and GovTech, marking a “significant step forward” in making advance care planning more accessible to Singaporeans.

When should you start legacy planning?

You should start legacy planning as early as possible. Unexpected events can happen at any stage of life—planning early allows you to make more informed decisions.

Former President Halimah Yacob shared these remarks at a symposium on legacy planning by the Silver Caregivers Cooperative.

While legacy planning can be a sensitive topic, it’s important to be proactive and get started while you’re able to make sound decisions. You shouldn't let procrastination, uncertainty, or discomfort stop you from putting a comprehensive plan in place.

Remember, early planning empowers you over all aspects of your legacy—from protecting your assets and setting up trusts to planning charitable giving, ensuring your vision endures.

How to start legacy planning in Singapore

It’s easy to begin your estate and legacy planning journey with these steps:

Step 1 – Reflect on what matters most

There are three main aspects to consider: personal, financial, and medical.

To determine your personal preferences, you can ask yourself:

• What values do I want to pass on?

• Who should make decisions for my personal welfare?

• How do I wish to be remembered?

To cover your financial legacy, consider:

• How do I want my assets to be distributed?

• Who should manage my finances if I cannot?

• Are there any specific debts or charitable donations I want to make?

And to determine your medical preferences, you should consider:

• What are my wishes for end-of-life care?

• Who should make medical decisions if I'm unable to?

Step 2 – Talk to your loved ones

Openly discuss your legacy plan with your loved ones to minimise uncertainty and emotional distress for them in the future. This can ensure everyone understands your wishes and reduces the potential for misunderstandings or disputes, fostering harmony and providing clear guidance for your family.

Step 3 – Use MyLegacy@LifeSG

MyLegacy@LifeSG provides a convenient, centralised platform for accessing information and e-services for your LPA, ACP, and more. This streamlines the process of estate and legacy planning, allowing you to plan your future preferences and wishes efficiently and securely, all from one trusted government portal.

How MyLegacy@LifeSG supports your legacy planning journey

MyLegacy@LifeSG is designed to make legacy planning in Singapore simpler and more accessible for everyone.

Step-by-step guidance for each process

This step-by-step guide to legacy planning helps users understand precisely what to do, why it matters, and how to proceed—all without necessarily needing specialised legal knowledge, making complex processes manageable for everyone.

A centralised hub for all legacy planning tools

The MyLegacy@LifeSG portal provides comprehensive resources for all parts of legacy planning in an easy-to-understand format. No more jumping between different websites or agencies—you can access the portal and find everything you need in one place.

Integrated with Singpass and MyInfo for convenience

For services like ACP, you can utilise the myACP tool within the portal. Instead of filling in your personal details repeatedly, MyLegacy@LifeSG connects seamlessly with Singpass and MyInfo, allowing for autofill features that make form submissions faster and more accurate.

Complete your ACP online without the need for an ACP facilitator

myACP is a self-documented tool that allows you to complete your ACP online independently. The process also involves selecting up to 2 Nominated Healthcare Spokespersons (NHS). NHS will speak on your behalf based on your ACP when you cannot speak for yourself. Upon completion of myACP and the NHS's acceptance, your submission will be linked to the National Electronic Health Records (NEHR) for viewing by ACP facilitators and healthcare professionals in hospitals. The myACP service is free-of-charge.

Frequently asked questions about legacy planning

Planning for peace of mind

Legacy planning is an act of profound love and responsibility towards your loved ones. Start your legacy planning today to secure your family's future and your own peace of mind! 

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