Cheapest Letters of Administration in Singapore

Cheapest Letters of Administration in Singapore

It is painful to lose a loved one. However, it is essential that the estate matters of your loved ones be resolved. In the event that your loved one had prepared a Will, the executor will make an application for a Grant of Probate. If no Will had been executed, the closest next-of-kin of the deceased can make an application for a Grant of Letters of Administration.

The cheapest probate in Singapore generally starts from S$950 nett, provided that:

1. The Will had been prepared by a lawyer and is valid;
2. There is only 1 named executor in the Will;
3. The executor has a complete list of assets (and their details) to be listed in the schedule of assets; and
4. The total value of assets listed in the schedule of assets is under S$3 million dollars.

The cheapest letters of administration in Singapore generally starts from S$950 nett, provided that:

1. There is no minor beneficiary (under the age of 21);
2. No renunciation is required and the closest next-of-kin is able to make an application for the Grant of Letters of Administration;
3. The administrator has a complete list of assets (and their details) to be listed in the schedule of assets; and
4. The total value of assets listed in the schedule of assets is under S$3 million dollars.

There should not be any distinction in the pricing of a probate application and letters of administration as the work carried out by the lawyer is pretty similar.

In the event that you do not have a complete list of assets, your lawyer will need to write to financial institution to obtain such information and the cost will increase.

If the asset value exceeds S$3 million, the application has to be made to the High Court of Singapore and the costs will be higher comparatively due to higher filing fees.

Should there be beneficiaries under the age of 21, an additional application to dispense with sureties (guarantors) has to be made. This will also lead to an increase in costs. An application to dispense with sureties generally starts from S$1,000 nett.

It is already painful losing a loved one. Hence, you should not subject yourself to additional financial burden in terms of legal fees required to hire a lawyer. It is wise to engage a lawyer who is able to provide the cheapest letters of administration in Singapore.

In your search for the cheapest letters of administration in Singapore, take note of the disbursement fees chargeable by the lawyer. Disbursements fees generally include Court filing fees, commissioning fees chargeable by the Commissioner of Oaths and miscellaneous fees such as photocopy fees and GST.

A responsible estate lawyer will include all of these miscellaneous expenses in your quotation. In your search for the cheapest Letters of Administration, ensure that you obtain quotations that cover all of these miscellaneous fees (which can add up to a significant amount).

 

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