Legacy Planning to Preserve Wealth Across Generations
- Bentley Chen
- Jun 23
- 2 min read
Updated: Jul 7
Legacy Planning
Brief Background
Family Profile / Situation
Recently, I assisted a 70-year-old semi-retiree with his estate planning. Like many individuals entering retirement, he had accumulated assets over a lifetime of hard work. These included savings in bank accounts, an HDB property, CPF monies, insurance policies, and other personal assets.
His primary concern was not how much he owned. His concern was whether everything would be properly organised and whether his loved ones would know what to do when the time comes.
As part of the engagement, we prepared a Will to document his wishes clearly. This provided clarity on how his assets should be distributed and helped reduce the likelihood of misunderstandings among family members in the future.
However, our discussion did not stop there. The client also wanted to create a legacy for the next generation and beyond.
We developed a legacy arrangement that provides a stream of yearly income during his lifetime. Should circumstances change in the future, the arrangement can be transferred to his son, allowing the income stream to continue. Eventually, the remaining benefits can pass on to the grandchild, according to the family's wishes.
What made this case meaningful was the long-term perspective. Instead of planning only for himself, the client was thinking about three generations:
Generation 1 – Himself
Continue receiving yearly income during retirement.
Maintain financial flexibility.
Organise his affairs clearly through a Will.
Generation 2 – His Son
Continuation of the income stream in the future.
Reduced administrative complexity through proper planning.
Generation 3 – His Grandchild
Receipt of future proceeds according to the family's wishes.
Preservation of family wealth across generations.
If this story reminds you of your own situation, feel free to reach out. I'm happy to have a no-obligation discussion and help you understand your available options.
Contact Ben;
Email: ben@benestateplanning.com
Mobile: +65 9368 5769
