Death is something that we can’t escape. We hope to live a healthy and happy life, but we the truth of the matter is we will all pass away at some time and therefore we must also consider what happens after we pass away. Will our family members have to take raise money just so we can have a decent funeral and burial? What will happen to the home we worked so hard to build? These are questions that Lisa had. A married woman with one son and a husband who had an uncontrollable gambling habit. Following is her challenges and how we help her thru our CARE planner.
Hi, I’m Alverna Cher, Certified Will Planner, MUMtrepreneur, and the 1st CARE Planner in Singapore. Founder of CARE Planner Certification Program. Yes. I have a full plate, but it is my passion and pleasure to help individuals and families with their Last Journey-planning needs. I am grateful for the opportunity to devote 100% of my time to help families lessen their grief and create smart solutions for their end of the journey. For the latest tips in care planning advice, be sure to connect with us on Facebook https://www.facebook.com/willplanningforfamily/
Lisa came to me when she heard my sharing on Radio97.2 about the importance of writing a Will in Singapore context. She manages to get my contact number from Radio97.2 and seek my advice on her worries.
Her main concern is her only son, Eddie. She often had the sleepless night worrying about Eddie’s well-being if she has to leave the world before he turns age 21. The root cause of the worries came from her husband, who was using his income for his gambling habit and neglected his responsibility to pay their household bills. As such, they were more than $10,000 behind on their bills. Leaving behind debts and no saving, Lisa was so afraid of what could happen if she passed away before Eddie turned 21. What would happen to Eddie’s roof and his well-being? Unfortunately, since the Housing Development Board (HDB) is a joint tenant, the flat cannot be written into the will and possibly even worse, Lisa’s husband would have full guardianship of their son, Eddie and all monies.
1. Happy Solutions
Lisa came to us with tears in her eyes. I’m so glad our CARE planner was able to help her dry her eyes. No doubts we can’t help Lisa solve her debts issue and not able to help solve her husband gambling problem. However, we were able to offer Lisa solutions to give her peace of mind so she could worry less and enjoy more of her life with her family.
2. CARE planner Solutions for Lisa:
Lisa assigned us as trustee and executor to overlook all the asset until her son, Eddie turns age 21. By law, Lisa’s husband will be the legal guardian, unless adoption is done. However, he won’t have full control of the monies left behind, as we have a trustee account in place.
We registered a Lasting Power of Attorney (LPA). Through a Lasting Power of Attorney Lisa now has the assurance that her property and financial affairs will be managed according to her wishes, if in the event she loses her mental capacity.
Additionally, CARE Planner was able to assist Lisa in pre-funeral arrangements with the allocation of the budget within her means. We established a convenient payment installment plan for Lisa. She was able to select her desired coffin type and theme color along with her favorite flower arrangements.
While Lisa still has to contend with the reality of her husband’s gambling addiction, she does not have to worry about her funeral arrangements and most importantly, Eddie’s future financial stability. Now, she knows that if she passes away before Eddie turns 21, her wishes will be honored and Eddie will be safe.
If we could see into the future, we would have the foreknowledge to avoid the consequences of failing to plan for our untimely absence…our last journey. We would make smart choices that honor the loved ones we leave behind. We would be careful not to burden them with the painful task of making financial and life-sensitive decisions on our behalf. I know, these are not popular topics that go viral on YouTube, but nevertheless, these are discussions that we must have because we love our families and do not want to compound their grief with matters that we could have easily and affordably handled ourselves.
3. What will happen to your children in your absence?
Mom and Dad? Do you know what will happen to your children in your absence? Do yourself a favor and download my FREE Will Planning Guide RIGHT NOW to help you understand why you need to write a will and what details should be included in your will. https://www.singaporefirstcareplanner.sg/freewillplanningguide/
If you’re thinking, “Alverna, I’m not rich, I don’t need to write a will.” Let me tell you, the only prerequisite to writing a will is loving the people you leave behind. If you care about the people who will mourn your absence, express that love in a written will that tells them how you want your property and finances managed in your absence.
As a Certified Will Planner, I have the expertise to streamline the will writing process to make it comprehensive, but quick and easy. If you’re ready to tell the people you love how to manage your affairs, let’s talk about what to include in your love letter. After you read through my FREE guide, connect with me on Facebook or email me to plan a consultation at a discounted price of $18 (total saving of 80% from original price) http://bit.ly/consultalverna I look forward to assisting you with your end of journey care planning.