Hi friends,
In the previous email, we talked about what happens to your CPF savings if you do not make a nomination.
Today, I want to share another issue I’ve seen many times over the years.
Assets that no one knows about.
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💡 Mistake #3: Assets That Are Not Clearly Documented
Many families assume that when the time comes, everything will be easy to sort out.
But in reality, that’s often not the case.
Over the years, I’ve met families who only discovered certain assets months — sometimes even years — after someone passed away.
A forgotten bank account.
An investment account no one knew existed.
An insurance policy without clear records.
The problem is not that these assets don’t exist.
The problem is that no one knows where they are.
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When financial information is scattered across different places, it becomes difficult for family members to piece everything together during an already emotional time.
In some cases, assets are eventually found.
In other cases, they are not.
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Estate planning is not only about writing a Will.
It is also about organising your financial information clearly, so your family knows where to start.
This usually includes a simple record of:
• bank accounts
• investments
• insurance policies
• CPF information
• important documents
Clarity may seem like a small thing today.
But it can make a very big difference later.
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In the next email, I’ll share Estate Planning Mistake #4, which becomes especially important for families with young children.
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If you would like a professional review of your estate plan and wealth structure, you’re welcome to reach out.
In a Legacy Playbook conversation, we typically:
• review your current wealth structure (CPF, property, insurance, investments)
• identify potential gaps or blind spots in your estate planning
• map out a simple legacy plan for your family
Happy to share how most families in Singapore structure their plans.
To a strong and lasting legacy,
Edward Shee (施文山)
CFP®, MDRT 2023 / 2025, IBFA, AEPP
Associate Director, Financial Advisory
RNF No: SBS200040073
Synergy Financial Advisers Ltd
M +65 9048 2463 | W [email protected]
A 51 Bras Basah Rd, #07-03, Lazada One, Singapore 189554
Disclaimer
The information provided in this article is for general informational and educational purposes only and does not constitute financial, legal, or tax advice. The views and opinions expressed are those of the author and do not necessarily represent the views of Synergy Financial Advisers Pte Ltd.
Financial planning decisions should always be made based on your individual circumstances. You are encouraged to seek personalised advice from a qualified financial adviser before making any financial or estate planning decisions.
Edward Shee Boon Sun is a licensed representative of Synergy Financial Advisers Pte Ltd.