Hi friends,
A client once told me something that stayed with me.
“We actually settled all this years ago.”
He said it with confidence.
A will had been written.
Insurance was in place.
Some investments had been set aside.
To him, estate planning was already done.
—
A few years later, we sat down again.
And life looked very different.
There was another child.
A property upgrade.
A change in income.
Even his priorities had shifted.
—
💡 Mistake #7: Thinking Estate Planning Is “Done”
Most people do not ignore estate planning.
They simply believe that once it is completed… it no longer needs attention.
But life keeps moving.
—
Over time, things change quietly.
• family structures evolve
• new assets are accumulated
• relationships change
• financial goals shift
—
When this happens, even a well-prepared plan can slowly become outdated.
Not because it was wrong.
But because it no longer reflects your current life.
—
Over the years, I’ve seen situations where:
• wills no longer reflected the family structure
• CPF nominations were never updated
• financial arrangements no longer matched what the family actually needed
—
Estate planning is not a one-time task.
It is something that should evolve as life evolves.
—
A simple way to think about it:
Your plan should grow with your family.
Not stay frozen in time.
—
This brings us to the end of the 7 estate planning mistakes I’ve seen over the years.
Some are small.
Some can create bigger problems than expected.
But all of them come back to one idea.
—
Clarity.
Clarity for the people you care about.
—
If you’ve been following this series, you may already see one or two areas worth reviewing.
—
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 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 Ltd.