News

Legacy planning is essential as wealth in Asia rises. Key tips include considering tax implications like ABSD (additional buyer's stamp duty) and SSD (buyer's stamp duty), ensuring mortgage insurance is in place, setting up standby trusts for vulnerable family members, clearly defining and communicating your legacy, considering early wealth transfers, investing wisely, managing expenses, using insurance for wealth management, and nominating beneficiaries in insurance policies. In the article, Mr. Ray Ang, CEO (Singapore) mentioned that insurance policies are increasingly used for mitigating risks, wealth accumulation, and intergenerational wealth transfer. 

Start early and plan thoroughly for a smooth legacy planning journey. 

Read the full article: https://www.straitstimes.com/business/invest/legacy-planning-and-what-not-to-do