The Will Custody service ensures the safekeeping of your Will, giving you peace of mind and eliminating worries about tampering, misplacement, or loss. Our Will Custody service protects your Will, even if you change addresses or face other life events.
Why do I need the service? I can keep the Will on my own.
While you can keep your Will yourself, many people find that they misplace it over the years. Often, individuals lack a secure place to store this important document, or they hide it so well that no one knows where to find it after they pass away. Additionally, testators may become senile, ill, or simply forget to inform the right parties of the Will’s location.
Where will you keep my Will?
We store all our clients’ Wills with our trusted custody partner that specialises in data security. This ensures that your Will is kept in a secure and confidential environment. Thereby, guaranteeing that your Will can be easily retrieved when needed, providing you with a peace of mind.
How many types of Will Custody are there and what are the differences?
There are 2 types of Will Custody to suit your objectives:
- Annual Custody: $163.50 (GST included)
- Lifetime Custody: $1308 (GST included)
Both options come with an E-Custody card that you could forward to your Trusted persons to inform them that you have crafted your Will and safekept by PreceptsGroup.
What do I need to do if I need to retrieve my Will?
To retrieve your Original Will, complete a Will Retrieval Request Form from PreceptsGroup and send it via email, mail, or fax along with a copy of your NRIC for verification. They will retrieve your Will and inform you when your original Will is ready for collection at their office. If you are unable to collect it personally, you can authorise someone to do so on your behalf.
How do I know if my Will custody has expired?
For the Premium Lifetime Custody service, there is no expiry date, providing you with lifetime coverage.
For Annual Custody, PreceptsGroup will send you reminder letters as the expiry date approaches. The amount stated on the Custody Statement should be settled by the expiry date. PreceptsGroup offer a one-month grace period from the expiry date for you to decide whether to continue with the Custody service with Precepts or to retrieve the Will for your own safekeeping.
The Annual Custody service will renew automatically once the grace period ends. Any outstanding fees will accumulate, and the full amount must be paid before any retrieval or rewrite.
Please note that your Will remains under their Custody service should you request a retrieval without collecting the Will from our custody department. The Will Custody service only ceases when you have collected the Will and they have received an acknowledgement of receipt. The annual custody fees will renew automatically if the original Will remains uncollected.
Does PreceptsGroup keep Wills that are written by external parties?
Yes. they do keep Wills that are written by external parties and it will also come with an E-Custody card that you could forward to your Trusted persons to inform them that your Will is safekept by PreceptsGroup.