QUOTE(jutamind @ Sep 13 2014, 09:22 PM)
been reading all 35 pages of this thread. as a summary, there are 2 ways of investing in SG stocks:
1. opening SG savings account and trading account (popular ones DBS/DBS Vickers or Stanchart) - which is the way elea88 and gark are using
2. trade via Msia stock broking firm - which i think AVFAN is using
been contemplating of investing in SG stocks, not just REITs, but ETF/unit trust as well....what would be the differentiation factors to choose either option 1 or 2?
Besides, if we go for option 1, what happens if we pass away? looking at will planning aspect as well....
This is procedure for DBS BANK AC HOLDERS.
Upon the demise of an account holder, all her personal and joint accounts will be frozen upon receipt of the notice of death. Account balances form part of the deceased’s estate and will be managed by the appointed executors (if a Will is available) or administrators.
If a Will is available, a Grant of Probate must be submitted for the release of balances to the appointed executors. If a Will is not available, administrators must be appointed and the Grant of Letters of Administration must be presented for the release of balances to the administrators. The Grant of Probate or Grant of Letters of Administration must be issued and/or re-sealed in the Singapore courts.
Where the personal account(s) of the deceased is/are to be closed, the appointed executors/administrators are to complete the “Authorisation for Closure of Account” form.
However, the Bank can allow the release of ‘small amounts’ provided under the ABS guidelines for intestate cases (without leaving a Will), depending on the type of accounts and the account balances.
To close the account and apply for the release of the credit balances, please provide the following documents at our branch:
1) Original death certificate of the deceased
2) Original Grant of Probate or Letters of Administration sealed in Singapore (For foreigner account holder if the Grant is extracted from a Commonwealth country, it has to be resealed by the Singapore High Court)
3) Identity documents of the appointed executors/administrators
4) Authorisation for Closure of Account to be signed by the appointed executors/administrators
If the account has more than one administrator, the signature requirement is defaulted to jointly. That is, all the administrators would have to be present to make withdrawal or close the account.
The funds can be released via the following options:
- Cash
- Cashier’s Order (A fee will be charged if the Cashier's Order is payable to a third party)
- Crediting to another DBS/POSB Account
Sep 8 2014, 05:00 PM
"8% yield, low gearing, cheap debt, avg tenancy 6.x yrs..."! 
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