Steps In Estate Planning

Learn about the Estate Planning Process and take the necessary steps to plan your Estate.
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  • Lectures 17
  • Length 43 mins
  • Skill Level All Levels
  • Languages English
  • Includes Lifetime access
    30 day money back guarantee!
    Available on iOS and Android
    Certificate of Completion
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About This Course

Published 4/2014 English

Course Description

Estate planning is about how you distribute your estate - the assets and savings that you owned - according to your wishes after your death. It is about making sure that the people and causes you care about, receive some of your estate in the amount and manner you want them to.

In this course, we will cover the following steps of the Estate Planning Process:

  • Deciding on the means of transferring your assets
  • Executing your Estate Plan
  • Reviewing your Estate Plan

Under the Means of Estate Transfer, we will discuss:

  • Transfers before death
  • Transfers through the probate process
  • Transfers through Will substitutes

We will also discuss concepts such as:

  • Testamentary Trust
  • Rules of Survivorship
  • CPF Nomination
  • Nomination Of Insurance Nominees
  • Expenses incurred in an Estate Transfer
  • Lasting Power Of Attorney (LPA)

There are also Case Studies to help you understanding the concepts of:

  • Net Estate value
  • Disbursement of moneys
  • Concerns about death and losing mental capacity

This course is suitable for anyone who has substantial financial assets and wishes to do Estate Planning. Please note, however, that some of the concepts in this course are only applicable in Singapore.

What are the requirements?

  • List of Beneficiaries
  • Proxy Decision Makers

What am I going to get from this course?

  • to know the various means of estate transfer
  • to understand about CPF Nomination
  • to understand about Insurance Nominations
  • to understand about the Lasting Power Of Attorney (LPA)

Who is the target audience?

  • those approaching retirement
  • working adults
  • those who wish to do estate planning

What you get with this course?

Not for you? No problem.
30 day money back guarantee.

Forever yours.
Lifetime access.

Learn on the go.
Desktop, iOS and Android.

Get rewarded.
Certificate of completion.


Section 1: Introduction

This steps in Estate Planning are:

  1. Ascertain the assets you own
  2. Determine how you want your estate distributed
  3. Decide on the means of transferring your assets
  4. Execute your estate plan
  5. Review your estate plan

In this module, we will be covering Steps 3 to 5 of the Estate Planning Process. The previous two steps were discussed in a previous module entitled The Importance Of Estate Planning.


In this Lecture, find out more about MoneySENSE's core financial capabilities:

  • Understanding Money
  • Understanding yourself, your rights and responsibilities
  • Managing everyday money
  • Planning ahead
  • Selecting financial products
Section 2: Steps In Estate Planning

In this lecture, we look at the means of transferring your assets.

Basically, your assets can be transferred:

  • Before Death
  • Upon Death
    • Through the probate process
    • Using will substitutes
3 pages

In this lecture, we provide slides on how to decide on the means of transferring your assets.


In this lecture, we explain the following concepts:

  • Testamentary Trust
  • Transfers Using Will Substitutes
  • Rules Of Survivorship
3 pages

In this lecture, we provide slides on the concepts of Testamentary Trust, Transfers Using Will Substitutes and Rules Of Survivorship.


In this lecture, we explain about CPF Nominations, Nomination Of Insurance Nominees and also the Differences between Trust Nominations and Revocable Nominations.

3 pages

In this lecture, we provide slides on CPF Nominations, Nomination Of Insurance Nominees and the Differences between Trust Nominations and Revocable Nominations.


In this lecture, we discuss about the ways of Executing your Estate Plan and also the various Expenses Incurred in an Estate Transfer.

2 pages

In this lecture, we provide slides on Executing your Estate Plan and also Expenses Incurred in an Estate Transfer.


In this lecture, we provide details about the Lasting Power Of Attorney (LPA). The consequences of having or not having an LPA are explained, and the LPA Process as well.

To apply for an LPA, visit

3 pages

In this lecture, we provide slides on the Lasting Power Of Attorney (LPA), including the consequences or having or not having an LPA and the LPA Process.


When You Should Review Your Estate Plan

    Life stages and circumstances change.

    New members in the family who are not included in the estate plan.

    Your assets may have increased or decreased significantly.

    If you change your name or anyone mentioned in the Will changes his name.

    If an executor or trustee dies or becomes incapable of carrying out his duties owing to ill-health.

    If a beneficiary dies.

Protecting your mortgage

If you want to ensure that your home loan is paid off in the event of your death, you could consider a mortgage reducing term insurance

Section 3: Conclusion

In this lecture, we consider 3 scenarios for a family. Considered here are:

  • How to calculate Net Estate value
  • How to disburse an amount of money
  • Options when concerned about dying or losing mental capacity
7 pages

In this lecture, we provide slides related to the Case Studies in the previous lecture.


In this lecture, we summarise and conclude this e-learning module.


This lecture contains links to additional resources where you can learn more about money matters pertaining specially to Singaporeans.

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Instructor Biography

Institute for Financial Literacy, Unbiased Financial Education Courses

The MoneySENSE-Singapore Polytechnic Institute for Financial Literacy is a collaboration between MoneySENSE, the national financial education programme in Singapore and Singapore Polytechnic.

MoneySENSE is spearheaded by the public-sector Financial Education Steering Committee which comprises representatives from the Ministry of Health, Ministry of Social and Family Development, Ministry of Education, Ministry of Manpower, Central Provident Fund Board, Monetary Authority of Singapore, National Library Board and People’s Association.

Our financial education courses cover basic money management, financial planning and investment know-how.

Instructor Biography

Ferris Wee, Financial Literacy Trainer

Ferris Wee

BA (Hons) Business and Finance

Ferris Wee is a qualified Financial Planner, and through his previous workplace, a global financial services company, he has helped more than one hundred clients with his clear process in reviewing their financial needs. Specifically, he has helped clients to identify their goals and ensure that they make the right choices to meet those goals today, tomorrow and in the years to come.

Ferris is passionate about leading people beyond financial breakthroughs, and has conducted financial literacy training in Singapore and Indonesia, as well as sports camp training for youths in India. Ferris is also an experienced financial counselor, helping many people manage their budget to meet their financial responsibilities.

Ferris is a Certified Will Writer, and has provided Professional Will writing, estate planning and custody services. He is also an Associate Estate Planning Practitioner.

Prior to his career in financial planning, Ferris was with the Republic of Singapore Air Force working on budgeting, logistics, maintenance and overseeing safety issues. For his strong leadership qualities, Ferris received the Outstanding Safety Warrior Award.

Ferris has a BA (2nd Class Upper Honours) specializing in Business and Finance. He also holds industry certifications in M5, M8, M8A, M9, M9A, HI, BCP and PGI.

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