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Single Mum with 3 young children, owns a HDB property and with no financial support from ex-husband.

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Due to HDB regulations, inheriting an HDB property with minor children can be complex. Minors (under 21) can only inherit the property with HDB's approval. If approval is denied, the property must be sold, leaving the children without a home. This raises concerns about the children's living arrangements and the management of sale proceeds in the event of the sole owner's death.

 

4 KEY AREAS TO CONSIDER

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  1. Shelter of the children.
    Having a property as a sole owner with minor inheritors might be tricky due to the rules and regulations that have been set out by the HDB act. Generally, inheritors that are minor (below 21 years old) are unable to inherit the property. Therefore, the property has to be sold off and will leave the children with no shelter. In the event of death, where shall the children stay?
     

  2. Guardian of the children.
    Since the father of these children is still alive, the father will be the natural guardian of them and shall provide shelter and protection to them. However, assuming that the father has financial issues like debt etc and is unable to provide security and financial support, would you want to seek other family members to be the guardian of the children?
     

  3. Welfare & education of the children.
    As parents, we would want to provide the best education for our children right? By having a trusted caregiver and guardian of the children, their welfare will be guaranteed and their education will be the top priority in their life. Don’t you think so?
     

  4. Trusted person to manage her children’s finances.
    In this tricky situation, usually the surviving father would want to request to handover the children’s share from the inheritance and manage the children’s finances as he is the one taking care of them. However, if he has financial issues like debt etc, do you trust him to hold and manage the children’s finances?

 

As a conclusion, doing estate planning will provide:

  1. Confidence that the surviving children will be taken care of.

  2. Certainty that all plans are compliance with the civil law and syariah law (for Muslims)

  3. Clarity that all parties understand your last wishes and prevent any dispute and confusion among the family

 
 
 
 
 
 
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