What assets can be administered using the Grant of Probate/Letters of Administration?
Except for CPF monies, all other assets of the deceased can be administered using the Grant of Probate/Letters of Administration and have to be included in the Schedule of Assets. Examples of assets which need to be included in the Schedule of Assets are HDB flats, condominiums, cars, stocks, insurance policies, and the monies in bank accounts.
If the asset is not included in the Schedule of Assets, the executor (in the case of a Grant of Probate) and the administrator (in the case of Letters of Administration) will not be able to administer the non-included asset. This is because financial institutions will not hand over the assets of the deceased if the said asset is not included in the Schedule of Assets.
CPF monies have to be administered by either the CPF Board or the Public Trustee after the death of a CPF member. If the CPF member had made a nomination while he was alive, the CPF Board will distribute the money in accordance to the directions in the nomination. If the CPF member did not make a nomination while he was alive, the CPF monies will be forwarded to the Public Trustee for distribution in accordance with the Intestate Succession Act.
Beneficiaries can also apply to the Public Trustee’s Office for the administration of the estate of deceased persons if the estate is less than S$50,000. In the case where the Public Trustee administers the estate, the Public Trustee performs the role in lieu of administrators and executors.
