WEALTH GIVING-ESTATE PLANNING Dong Mei had nominated her mother as nominee for her CPF monies before her marriage. Dong Mei does not have a will. Feng Hao is planning to have his will revised. Feng Hao's existing will contains the following provisions: . I hereby disinherit my brother Zhen Hao. He will not receive any bequests, devises, or inheritances from my estate. I hope that my coin collection will be given to my nephew I hereby give my Toyota(SKG 2367) to my niece, Yen Yen I hereby give Chao Chao $100,000 Since the will was executed, the Toyota was destroyed in an accident and Dong Mei learned about Chao Chao. Chao Chao had threatened to expose some past indiscretions by Feng Hao if he was not provided for in his will. Question 3 WEALTH GIVING - ESTATE PLANNING (34 marks) 3(a)(i) Compare the differences in distribution of estate under the Will and Intestate Succession Act. (6 marks) 3(a)(ii) Dong Mei wishes to pass her money in her CPF Ordinary and Special Account to her mother her demise. You are to explain to Dong Mei on how she can realise her wishes. (4 marks) upon 3(b)(i) Feng Hao is very certain that when he becomes a bankrupt, his assets listed below are protected from creditors. You are to advise Feng Hao accordingly about these: (8 marks) i. The money in his Supplementary Retirement Scheme ii. The $220,000 in his CPF Investment Scheme Ordinary Account iii. His Whole Life Policy with sum assured of $250,000 iv. His residential home and investment properties 3(b)(ii) Identify the actions that Feng Hao should take to avoid estate planning pitfalls when Feng Hao amends his will. (8 marks) 3(c) Describe four (4) potential estate planning issues that Feng Hao's family members would encounter in the event of his sudden death. (8 marks) WEALTH GIVING-ESTATE PLANNING Dong Mei had nominated her mother as nominee for her CPF monies before her marriage. Dong Mei does not have a will. Feng Hao is planning to have his will revised. Feng Hao's existing will contains the following provisions: . I hereby disinherit my brother Zhen Hao. He will not receive any bequests, devises, or inheritances from my estate. I hope that my coin collection will be given to my nephew I hereby give my Toyota(SKG 2367) to my niece, Yen Yen I hereby give Chao Chao $100,000 Since the will was executed, the Toyota was destroyed in an accident and Dong Mei learned about Chao Chao. Chao Chao had threatened to expose some past indiscretions by Feng Hao if he was not provided for in his will. Question 3 WEALTH GIVING - ESTATE PLANNING (34 marks) 3(a)(i) Compare the differences in distribution of estate under the Will and Intestate Succession Act. (6 marks) 3(a)(ii) Dong Mei wishes to pass her money in her CPF Ordinary and Special Account to her mother her demise. You are to explain to Dong Mei on how she can realise her wishes. (4 marks) upon 3(b)(i) Feng Hao is very certain that when he becomes a bankrupt, his assets listed below are protected from creditors. You are to advise Feng Hao accordingly about these: (8 marks) i. The money in his Supplementary Retirement Scheme ii. The $220,000 in his CPF Investment Scheme Ordinary Account iii. His Whole Life Policy with sum assured of $250,000 iv. His residential home and investment properties 3(b)(ii) Identify the actions that Feng Hao should take to avoid estate planning pitfalls when Feng Hao amends his will. (8 marks) 3(c) Describe four (4) potential estate planning issues that Feng Hao's family members would encounter in the event of his sudden death. (8 marks)