Your legacy plan decides who is going to pay

BY 2029, private wealth in Asia is projected to reach US$99 trillion and more than six in 10 of the region’s wealthy will be at least 60 years old, according to a 2025 report by UOB Private Bank, Boston Consulting Group and the National University of Singapore Business School.

Singapore sits at the centre of this transition. By 2030, one in four Singaporeans will be over 65.

Yet, the typical legacy plan in many Singapore homes is this: There’s a will somewhere, a flat in joint ownership, and a Central Provident Fund (CPF) nomination to one’s spouse.