S1E7: Tips on legacy planning and setting up trusts: Invest Talk

Synopsis: Every first and third Monday of the month, get our tips on working smarter, getting ahead in your career and investing like a pro with ST's business correspondents and editors. Host Lee Su Shyan - associate editor at The Straits Times - offers you an extra edge in managing your hard-earned money. In this episode, find out what to take into consideration as you manage the funds that you are passing onto the next generation. There are issues such as tax as well as how to structure the income payouts so that the beneficiaries cannot spend all the money in one go. Trusts are a structure where you can leave your instructions and they will be carried out. Lee Su Shyan hosts her expert guest Mr Lee Chiwi, chief executive at PreceptsGroup International. Highlights (click/tap above): 2:00 What’s important as you start on estate planning 5:10 Why and how a trust can come in useful for very young beneficiaries 6:11 With more Singaporeans leaving larger amounts in their CPF accounts upon their demise, why it may make sense to do a nomination of CPF funds into a simple trust to avoid issues 8:06 How taxes may be an issue when it comes to estate planning; example of a beneficiary becoming a newly-wed and looking to buy his first home 10:30 Trusts for special needs individuals Register for ST's Head Start newsletter:  https://str.sg/stnewsletters Produced by: Lee Su Shyan ([email protected]), Ernest Luis, Eden Soh and Teo Tong Kai Edited by: Teo Tong Kai Follow ST's new Your Money & Career Podcast channel here: Channel: https://str.sg/wB2m Apple Podcasts: https://str.sg/wuN3 Spotify: https://str.sg/wBr9 Google Podcasts: https://str.sg/wVpX SPH Awedio app: https://www.awedio.sg/ Read Lee Su Shyan's articles: https://str.sg/wuQs Website: http://str.sg/stpodcasts Feedback to: [email protected] --- Discover more ST podcast channels: In Your Opinion: https://str.sg/w7Qt Asian Insider: https://str.sg/JWa7 Health Check: https://str.sg/JWaN Green Pulse: https://str.sg/JWaf Your Money & Career: https://str.sg/wB2m ST Sports Talk: https://str.sg/JWRE #PopVultures: https://str.sg/JWad Music Lab: https://str.sg/w9TX Discover ST Podcasts: http://str.sg/stpodcasts Discover BT Podcasts: https://bt.sg/pcPL --- Special edition series: The Unsolved Mysteries of South-east Asia (5 eps): https://str.sg/wuZ2 Invisible Asia (9 eps): https://str.sg/wuZn Stop Scams (10 eps): https://str.sg/wuZB Singapore's War On Covid (5 eps): https://str.sg/wuJa --- Follow our shows then, if you like short, practical podcasts! Do note: All analyses, opinions, recommendations and other information in this podcast are for your general information only. You should not rely on them in making any decision. Please consult a fully qualified financial adviser or professional expert for independent advice and verification. To the fullest extent permitted by law, SPH Media shall not be liable for any loss arising from the use of or reliance on any analyses, opinions, recommendations and other information in this podcast. SPH Media accepts no responsibility or liability whatsoever that may result or arise from the products, services or information of any third parties. #moneycareerSee omnystudio.com/listener for privacy information.