Memorandum Of Wishes Template for Singapore

A Memorandum of Wishes is a non-binding document that allows you to provide detailed guidance about your asset distribution and estate management preferences to trustees, executors, and beneficiaries. While it doesn't carry legal force like a Will under Singapore's Wills Act Chapter 352, it serves as valuable guidance that can influence how your estate is managed and distributed according to your personal values and intentions.

When do you need this document?

You should consider creating a Memorandum of Wishes when you have complex family circumstances, significant assets, or discretionary trusts that require nuanced guidance beyond what's appropriate for a formal Will. This document is particularly valuable if you're involved in family business succession planning, have blended families with specific relationship dynamics, or want to provide context about your charitable giving intentions. It's also useful when you have assets in multiple jurisdictions or want to explain the reasoning behind certain distribution decisions to prevent future family disputes.

Key legal considerations

The most critical aspect to understand is that your Memorandum of Wishes is non-binding and cannot override the terms of your Will or trust deed. It should complement, not conflict with, your formal legal documents. You must ensure that any wishes expressed don't inadvertently create legal obligations or contradict existing trustee powers under the Trustees Act Chapter 337. The document should be written with sufficient mental capacity, and if you're Muslim, ensure your wishes align with Islamic inheritance principles under the Administration of Muslim Law Act. Consider tax implications under the Income Tax Act when expressing distribution preferences, and be mindful that your wishes may evolve over time, requiring regular updates.

Legal requirements in Singapore

Singapore law doesn't impose formal requirements for Memoranda of Wishes since they're non-binding, but best practices include clear identification of yourself as the maker, explicit statements about the document's non-binding nature, and proper dating and signing. The document should reference your existing Will and any relevant trust arrangements to provide context. While witnesses aren't legally required, having the document properly executed can add credibility. If you lack mental capacity under the Mental Capacity Act Chapter 177A, the document's weight may be diminished. Store the document securely and ensure your trustees, executors, and legal advisors know of its existence and location for effective implementation of your guidance.