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Memorandum Of Wishes
"I need a Memorandum of Wishes to provide guidance to my trustees about how to manage my family business interests and distribute assets among my three children, with specific emphasis on continuing our family's philanthropic activities in Singapore."
1. Introduction: Identifies the person making the wishes and establishes the non-binding nature of the document
2. Relationship to Will: Clarifies how this document relates to any existing Will and trust arrangements
3. Family Information: Details about family members and relationships relevant to the wishes
4. Asset Overview: General description of main assets covered by the wishes
5. Distribution Wishes: Detailed guidance on how assets should be distributed and managed
1. Personal Values and Principles: Used when testator wants to explain reasoning behind wishes and personal values to guide trustees
2. Guardian Guidance: Include when minor children are involved to provide guidance on their care and upbringing
3. Business Interests: Include when testator has business holdings to provide guidance on business continuation
4. Cultural Considerations: Include when specific cultural or religious practices should be observed in managing the estate
1. Asset Schedule: Detailed list of specific assets, their locations, and any special instructions
2. Family Tree: Visual representation of family relationships to aid trustees in understanding beneficiaries
3. Contact List: Important contacts for trustees including advisors, beneficiaries, and key family members
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