Declaration And Nomination Form

Declaration And Nomination Form Template for Singapore

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Key Requirements PROMPT example:

"I need a Declaration And Nomination Form for my insurance policy with AIA Singapore, designating my two adult children as equal beneficiaries, with my sister as a contingent nominee in case neither child survives me."

Document background

The Declaration And Nomination Form is a crucial document in Singapore's estate planning framework, designed to facilitate the smooth transfer of assets to intended beneficiaries. This document is commonly used for insurance policies and CPF nominations, allowing policy owners to specify how their benefits should be distributed upon their death. The form must be completed in accordance with Singapore's Insurance Act and related regulations, requiring proper witnessing and precise details of both the declarant and nominees. It provides a legally binding method to ensure assets are distributed according to the declarant's wishes, bypassing the need for probate.

Suggested Sections

1. Declarant Details: Personal information of the person making the declaration including NRIC/Passport number, address, and contact details

2. Declaration Statement: Formal statement of the nomination being made, including declarant's confirmation of sound mind and voluntary action

3. Nominee Details: Information about nominated beneficiaries including full names, NRIC/Passport numbers, addresses, and relationship to declarant

4. Share Distribution: Specification of how benefits are to be distributed among nominees, including percentages or amounts

5. Witness Statement: Attestation by witnesses confirming the declarant's identity and mental capacity

Optional Sections

1. Trustee Appointment: Used when nominees are minors or when trust arrangements are desired, including trustee details and powers

2. Contingent Nominees: Used when alternative beneficiaries need to be specified in case primary nominees predecease the declarant

3. Revocation of Previous Nominations: Used when replacing existing nominations, including details of previous nominations being revoked

Suggested Schedules

1. Schedule of Assets: Details of insurance policies or assets being nominated, including policy numbers and insurance companies

2. Identification Documents: Copies of relevant ID documents for declarant and nominees to be attached as supporting documentation

3. Witness Identification: Details and identification of witnesses, including their NRIC/Passport numbers and contact information

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok��˰� | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Insurance
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Financial Services
Estate Planning

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Customer Service
Claims
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Relevant Roles

Insurance Agent
Financial Advisor
Estate Planner
Wealth Manager
Trust Officer

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Authors

Alex Denne

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