25 March 2019

Foo Soon Yien

Cancellation of one’s Dependant’s Pass by an estranged spouse in the midst of ongoing divorce proceedings is one’s greatest worry. This article discusses the various ways you can go about reinstating your Dependant’s Pass and your rights in such circumstances.

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Post date. Edit this to change the date post was posted. Does not show up on published site. 25/3/2019

21 March 2019

Dharma Sadasivan

The Payment Services Act 2019 ("PSA") combines the 2006 Payment Systems (Oversight) Act ("PS(O)A") and the 1979 Money-Changing and Remittance Businesses Act ("MCRBA"), and aims to unify payment services regulation under a coherent and comprehensive regulatory framework.

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Post date. Edit this to change the date post was posted. Does not show up on published site. 21/3/2019

08 February 2019

Foo Soon Yien

The rule in Saunders v Vautier permits a beneficiary to terminate a trust if the beneficiary is of adult age, of sound mind and compels the trustees to transfer the legal estate to the beneficiary, thereby terminating the trust. This may be problematic as a testator may wish for the beneficiary’s share in his estate to be held on trust until a beneficiary attains an age, beyond majority. If the will is inadequately drafted, it may fail to achieve the testator’s true intention. 

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Post date. Edit this to change the date post was posted. Does not show up on published site. 8/2/2019

21 January 2019

Dharma Sadasivan

​As the legal industry becomes increasingly digitized, will-writing has emerged as a popular target for disruption. This centuries-old tradition of dictating how estate assets are to be distributed to beneficiaries through careful and bespoke drafting is now giving way to online automated document generation.

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Post date. Edit this to change the date post was posted. Does not show up on published site. 21/1/2019

19 December 2018

Dharma Sadasivan

*Updated 11 March 2019 

​Singapore's financial regulatory agency – the Monetary Authority of Singapore ("MAS") – released "A Guide to Digital Token Offerings" (the "Guide") on 30 November 2018.
 
The Guide is the primary piece of regulatory guidance by the MAS that focuses on the application of Singapore's existing financial regulatory framework to digital token issuance (in certain contexts, digital token issuances may be referred to as "initial coin offerings" or "ICOs").

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Post date. Edit this to change the date post was posted. Does not show up on published site. 19/12/2018

14 December 2018

Foo Soon Yien

​In the administration of an estate, disputes may arise between the executor and the beneficiaries. While some disputes may be resolved by agreements between the parties, others may result in the delay of the administration of the estate. If an agreement cannot be reached and the dispute persists, the question is if it is appropriate for an executor of an estate to commence an action seeking orders or directions from the court to finalise the administration of the estate.

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Post date. Edit this to change the date post was posted. Does not show up on published site. 14/12/2018

13 December 2018

Foo Soon Yien

Y, a mother of five children, added one of her children X’s name into her sole named bank account, thus converting the account into a joint account (“the Joint Account”).
 
When Y added X’s name into her sole named bank account, the Authorisation Form contained this clause:
 
“In the event of death, the rule of survivorship shall apply to the Joint Account and the Bank shall be authorised to dispose of the balance in the Joint Account as the property of or to the order of the survivor(s)…”
 
Y subsequently passed away intestate. The main issue arising from this fact scenario was whether, upon the death of Y, the monies in the joint account belonged to the Estate of Y or to X by the right of survivorship.

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Post date. Edit this to change the date post was posted. Does not show up on published site. 13/12/2018