In this conversation, Hanwei discusses the significance of trusts in estate planning, particularly in the context of Singapore. He emphasizes that trusts are not merely legal instruments but declarations of intent that provide structure and peace of mind for families. The discussion covers various types of trusts, their roles in protecting assets, ensuring continuity, and managing wealth across generations. Hanwei also highlights the importance of professional oversight and the need to consider tax implications when setting up trusts, especially for those with international assets.Takeaways

• A trust is a declaration of intent for your family.
• Trusts provide structure and peace in uncertain times.
• They can manage overseas investments and protect assets.
• Professional oversight is crucial for effective trust management.
• Trusts can ensure continuity in case of incapacity.
• They help avoid probate delays and complications.
• Trusts are not just for the wealthy; they are for the wise.
• Tax implications must be considered when setting up trusts.
• Trusts can provide ongoing income for dependents.
• Revisiting your will every few years is essential.

• "You want structure, you want peace."
• "Trusts can step in as that financial backbone."
• "Don't let fear or uncertainty hold you back."

Sound Bites

• "You want structure, you want peace."
• "Trusts can step in as that financial backbone."
• "Don't let fear or uncertainty hold you back."

In this conversation, Hanwei discusses the importance of the Lasting Power of Attorney (LPA) in Singapore, explaining its two forms, the implications of not having one, and sharing real-life stories that illustrate the difference an LPA can make in times of crisis. The discussion emphasizes the need for careful planning and the empowerment that comes with appointing trusted individuals to make decisions on one's behalf during incapacity.

In this episode of Wealth Steward, Hanwei explores the concept of wealth stewardship, emphasizing that true wealth is not merely financial but also about clarity, legacy, and direction. He discusses the role of a steward as a guide who aligns values with financial decisions, contrasting it with traditional financial advising. The conversation highlights the importance of having a steward for individuals and families with wealth, particularly in times of crisis, and the need for clarity in legacy planning.

takeaways

• Real wealth is not just about dollars.
• A steward aligns your values, money, and legacy.
• Wealth stewardship is about asking bigger questions.
• Many people don't realize they need a steward until it's too late.
• Clarity is essential in financial planning.
• Stewards help prepare families for the future.
• Money is easy to transfer, but values are not.
• Stewardship brings clarity and reveals meaning.
• Emotional succession is rare but crucial.
• Partnership is key in wealth stewardship.

Most people assume their spouse will inherit everything.
But the truth? If you die without a Will in Singapore, the law decides, not you.

In this first episode of The Wealth Steward, Hanwei shares real-life stories, breaks down the Intestate Succession Act, and explains why leaving it to “later” could cost your family more than just money.

You’ll learn:

• How assets are really distributed when there’s no Will

• What happens to your kids, your property, and your CPF

• Why writing a Will isn’t morbid — it’s empowering

Email me at [email protected] to request for your free Estate Planning Starter Checklist.

Take your first step toward clarity and control.