In the news was a man who drown in NUS’ swimming pool. The incident happened in 2007 and the deceased left behind his wife and the young children aged 3 and 6. The deceased widow tried to sue for $1m but failed even after appealing. The written judgment for the appeal was dated 9 January 2014. It took 7 years for the widow and her family to come to a closure. It must have been so tiring.
I infer that the deceased did not have a Will because his wife was called the administratrix of the Estate of the Deceased.
This unfortunate incident is a reminder to all parents the importance of financial planning. Financial planning is always preventive medicine. The reason why there are so few professional financial planning practitioners is because there is almost no demand by consumers for financial planning. You see, people do not act unless there is a problem. If you are ill, you see a doctor. However, if you have a financial problem, no financial planner can help because it is too late.
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