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From Advice to Accountability: Legal Insights for Advisers on Wills
As estate planning grows more complex, the role of financial advisers with regards to wills is becoming increasingly critical - and legally sensitive.
In a thought-provoking Defender of Wills session hosted by the Singapore College of Insurance brought together financial advisers and estate planning professionals for a deep dive into the legal, ethical, and procedural responsibilities involved in will execution. From legal risks to courtroom realities, the event equipped attendees with essential knowledge to navigate one of the most overlooked, but high-stakes areas of advisory work.
Expertly led by:
Low Seow Ling, with decades of experience in estate disputes, mental capacity issues, and family law, Seow Ling delivered practical case-based insights that highlighted the real-world consequences of improper advice or actions relating to wills.
Key takeaways from the session:
Execution Matters:
The Will must be signed by the testator in the presence of two witnesses - who must not be beneficiaries. Mistakes here can render the Will invalid.
Your Role as a Witness is Legal, Not Ceremonial:
Financial advisers acting as witnesses must ensure:
- The testator signs voluntarily and understands the Will's contents.
- They themselves do not benefit from the Will directly or indirectly.
- They can testify credibly to the process if called upon years later.
Mental Capacity & Suspicious Circumstances:
Advisers should be vigilant and look out for red flags – coercion, confusion, or undue influence. Your notes and recollections may become crucial evidence to prove that the testator had full capacity when executing the will.
Cross-Examination Can Be Brutal:
Cases like “Premavathy v Dr. Premalatha” show that poor documentation or vague testimony can fatally undermine a Will’s validity - even if intentions were genuine.
Documentation is Your Best Defense:
Maintain clear, contemporaneous records of:
- Parties present
- Who explained the Will
- Language used
- Any relationships involved
- The physical setup during signing
Professional Liability is Real:
Your actions, even if well-intentioned - can lead to serious legal and financial consequences. Know your insurance coverage, and ensure best practices are followed every time.
This session was a powerful reminder that financial advisers are not just facilitators - but potential witnesses in legal suits. Professionalism, neutrality, and legal awareness are essential to protect both client’s intent and adviser’s credibility.
A heartfelt thank you to Low Seow Ling for her exceptional insights, and to all who attended and contributed to the success of this session.
We look forward to welcoming you to future SCI events.
Stay informed on upcoming programmes, events, and sessions: www.scicollege.edu.sg/events
