A Legacy That Spans Three Generations

In reality, good estate planning begins while we are alive.

It involves organising assets, documenting intentions, and creating structures that help wealth transition smoothly from one generation to the next.

Every family situation is unique. The best plan is not necessarily the most complicated one, but the one that aligns with the family's goals and values.

Legacy Planning to Preserve Wealth Across Generations

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 so on.

We did up 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 grand child, 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.

• Maintains financial flexibility.

• Organises 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 Grand-Child

• Receipt of future proceeds according to the family's wishes.

• Preservation of family wealth across generations.