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Legal Terms Pt.2

2nd part of understanding some commonly used and heard legal words with regards to estate planning and inheritance matters.

Executor 执行人 zhí xíng rén

A person appointed by a deceased person to take effect or execute his instructions and wishes in his Will.

Intestate 无遗嘱 wú yí zhǔ

A person who passes on without making a valid Will, we commonly say he died intestate.

Administrator 管理人 guǎn lǐ rén

A person who manages or settles the estate of a deceased person when there is no Will, therefore, no official executor appointed.

Letter of Administration 管理令 guǎn lǐ lìng

A letter (notice) issued by the court in which an administrator is given authority to manage the estate of a deceased person.

Intestate Succession Act 无遗嘱继承法 wú yí zhǔ jì chéng fǎ

When someone passes on without leaving a Will, his estate will be distributed according to the default Singapore’s rules under the Intestate Succession Act.

Lasting Power of Attorney 持久授权书 chí jiǔ shòu quán shū

LPA is a legal instrument which allows a person, who is at least 21 years of age ('donor'), to voluntarily appoint one or more persons ('donee(s)') to make decisions and act on his behalf should he lose mental capacity one day.

#estateplanning #willwriting #legalterms #probate #inheritance #intestatesuccessionact #financialplanning #wealthmanagement

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