- CPF savings follow your CPF nomination, not your will.
- Insurance policies with a nomination are paid directly to the nominee.
- Property and bank accounts held as joint tenants pass to the surviving owner.
- A will only takes effect on death; it does not help if you lose mental capacity.
Why this matters
A common assumption is that a will deals with everything a person owns. In Singapore, some of the largest assets many families have, such as CPF savings, insurance payouts and a jointly owned flat, can pass outside the will altogether. If those arrangements point somewhere different from the will, the will does not override them.
CPF savings
CPF savings do not form part of your estate and cannot be given away in a will. They are paid to the people you have named in a CPF nomination, made with the CPF Board. A nomination lets you decide who receives the money and in what proportions.
If there is no nomination, the Public Trustee's Office distributes the savings under the intestacy rules (or Muslim inheritance law for Muslims), so you lose the ability to choose. Be aware that getting married cancels any earlier CPF nomination, while divorce does not, so it is worth checking your nomination after either event.
Insurance policies
Where you have made a nomination on a life insurance policy, the insurer pays the proceeds according to that nomination, outside your will. If no nomination has been made, the proceeds generally become part of your estate and are distributed under your will or, without one, under the intestacy rules.
It is worth reviewing nominations from time to time, especially after major life changes.
Jointly owned property and accounts
How a property is held matters. There are two ways for co-owners to hold property:
- Joint tenancy: when one owner dies, their interest passes automatically to the surviving owner or owners. It does not form part of their estate, and a will cannot give it to anyone else.
- Tenancy in common: each owner holds a defined share, which need not be equal. On death, that share becomes part of the owner's estate and passes under their will or the intestacy rules.
The same survivorship principle applies to a bank account held in joint names: it passes to the surviving account holder without going through the estate.
Decisions while you are alive
A will only speaks on death. If you are alive but lose the mental capacity to make decisions, for example after a stroke or through dementia, your will cannot help. A Lasting Power of Attorney is the document that lets someone you choose make decisions for you in that situation.
Assets overseas
If you own property abroad, the law of the country where it is located may govern what happens to it, and not every country will recognise a Singapore will. People with significant overseas assets sometimes need advice in each country involved.
A simple checklist
- Check that you have a current CPF nomination, especially after marriage.
- Check the nominations on each insurance policy.
- Find out whether any property you co-own is held as joint tenants or tenants in common.
- Consider a Lasting Power of Attorney alongside your will.
A lawyer can review your situation and explain your options.
This article is general information on Singapore law and is not legal advice. Rules and agency policies change, and every situation is different. For advice on your own circumstances, speak with one of our lawyers.
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