The views expressed in this article are based on my personal experiences and opinions, and do not constitute financial advice. Please do your own research or speak to a licensed financial adviser before making any investment decisions.
My mindset around death planning shifted after an acquaintance tragically passed away in a motorbike accident. She was of a particular religion – at least, that’s what my friends and I believed – yet her family held funeral rites that followed another faith. The incident made me realise the importance of making end-of-life plans, not just financially, but also with care for emotional and spiritual considerations.
In Singapore, although discussions around death and end-of-life planning are becoming normalised, the actual uptake of such planning is surprisingly low, with only around a fifth of Singapore residents having a made a Lasting Power of Attorney (LPA), based on a 2024 YouGov survey.1 The financial aspects of end-of-life planning, such as making CPF nominations, asset management and will writing, are often overlooked. The question is, can we really afford to ignore something that could so deeply impact the people we leave behind?
In this article, I’ll address this fundamental question and uncover how young adults in Singapore can take thoughtful, practical steps to prepare for death and mental incapacity.
• What is death planning?
• Why does it matter in your 20s?
• Getting started with death planning
• CPF nomination: What it does (and doesn’t)
• A will: When and how to write one
• Lasting Power of Attorney: How it protects you in the event of mental incapacity
• The peace of mind that comes from being prepared
What is death planning?
Death planning is more than just writing a will; it’s about easing the emotional and logistical burden on your loved ones by settling things like hospital bills and funeral arrangements in advance, so they don’t have to make sudden, difficult decisions in a time of grief.
It isn’t about being morbid but about being mindful. It’s about facing one of life’s certainties with courage, clarity and compassion, especially for those you’ll one day leave behind.
Here are three reasons why death planning is important, whether you’re in your 20s or 70s.
1. Life is unpredictable
Accidents, illnesses and sudden turns don’t wait for old age. Planning ahead is a sign of maturity. When you make decisions early in life, you ease the burden of chaos later.
2. It keeps you in control of things
From how your assets are distributed to how you'd like to be remembered, death planning gives you the final say. It ensures that your values, beliefs and wishes are honoured when you no longer have a voice.
3. Your loved ones shouldn't have to guess
Grief is already heavy. Without a plan, your family might also have to deal with urgent legal decisions, unpaid debts or even disagreements about what you’d have wanted. A clear plan spares them unnecessary heartache and gives them space to simply mourn and remember.
As author Mitch Albom once said, “Death ends a life, not a relationship”. Planning for death ensures that even in your absence, your love, foresight and care can bring guidance and comfort to the people who matter.
Why does it matter in your 20s?
According to a 2025 survey by the Singapore Management University, 81% of Singaporeans are open to discussing end-of-life matters but only 13% have actually documented their preferences2. This inaction carries consequences.
As of 2021, the Insolvency and Public Trustee’s Office holds over S$212 million in unclaimed funds, including CPF savings and insurance payouts that were never passed on because no clear instructions were left behind3. That’s why I believe death planning is a personal responsibility, especially as young adults. Without formal planning, decisions usually fall to the next-of-kin, which is typically your parents, if you’re a young adult.
However, if you're financially and emotionally independent or if you have elderly, sickly parents who do not have the mental capacity, you might prefer to appoint someone else to make medical or legal decisions on your behalf.
Whether it’s securing your CPF payouts, making your intentions legally known, or ensuring someone you trust can speak on your behalf if you lose capacity, these small steps can make a world of difference when it matters most.
Getting started with death planning
Making a CPF nomination, writing a will and setting up an LPA are three of the most important steps you can take to protect your future and the people you love. Here’s a quick guide to each one:
CPF nomination: What it does (and doesn't)
A CPF nomination is a formal instruction that tells the Central Provident Fund Board (CPF) who should receive your CPF savings upon your passing, and how much each nominee should get. Without a nomination, your CPF savings will be distributed according to Singapore’s intestacy laws, a process that usually takes six months and incurs an administration fee, that is deducted from your CPF savings before your eligible beneficiaries can receive them.
It is a way to ensure your savings go directly to the people you love, swiftly and without fuss. It’s not covered under your will, which means if you do not make a nomination, your CPF money gets distributed according to the law. That can mean months of waiting, legal costs and extra stress at a time when your family is already grieving.
Your invested CPF funds, however, are not part of the CPF funds that fall under the nomination when done up. This is because complexity rises when it comes to the management of these CPF invested funds as to whether nominated individuals are to hold it, sell it immediately or selling it at a certain period.
Your CPF savings might feel invisible now, quietly set aside from your paycheck each month, but over the years, they grow into something substantial. By the time you're in your 30s, your CPF could already hold $40,000 to $60,000 and for many Singaporeans in their 40s, it climbs past $200,000. Unless you make a CPF nomination, all of that could end up stuck in legal limbo.
You’ll be surprised how easy making a CPF nomination is. It takes less than 30 minutes and can be done online through the CPF Nomination Service, using your Singpass. All you need are your nominee’s full name and NRIC or FIN, along with two witnesses who aren’t beneficiaries to confirm your submission. You can also do it in person at any CPF Service Centre.
Will Writing: When and how to write one
Writing a will ensures the assets you’ve worked hard for go exactly where you intend. It isn’t just a legal checkbox; it’s a deliberate act of clarity. Whether it’s your digital assets like cryptocurrency, your first car or just a family heirloom, a will helps ensure your loved ones are taken care of, your wishes are honoured and disputes are avoided.
In Singapore, anyone aged 21 and above can write a legally valid will under the Wills Act, yet many delay it, thinking it's something only older people need to worry about. But life moves fast, and so should your plans. Just started your own side hustle? Moved out into your own place? Became a pawrent? These are all pivotal moments that should trigger one clear thought: I need to put my plans down in writing.
A will isn’t just for now. It’s part of a living, evolving financial plan. As your life changes, so should your will, and that’s why it helps to treat it like any other adulting task: something worth setting a reminder for. So, block out that calendar slot and put it on your to-do list.
Lasting Power of Attorney: How it protects you in the event of mental incapacity
By setting up an LPA, you legally appoint someone you trust to make decisions on your behalf, from managing your bank accounts to making critical healthcare choices. It gives you the assurance that your affairs will be handled with care and integrity, by someone who understands your wishes should you lose mental capacity.
While a CPF nomination and will are for setting clear instructions for after you’re gone, end-of-life planning also means preparing for the possibility that one day, you may no longer be able to make decisions for yourself due to illness or injury while still very much alive.
In Singapore, neurological diseases like dementia are the fifth leading cause of disability, but mental incapacity can also result from a stroke, traumatic brain injury or severe cognitive impairment after an accident. So, losing one’s cognitive abilities is not a distant or rare scenario. It’s something that could affect anyone, regardless of age, and when it does, the ability to make decisions independently can be lost overnight.
As lawyer Norhakim Md Shah, who has extensive experience with LPAs, urges: making an LPA can prevent problems before they arise. It’s a way to help the people around us avoid complicated situations that can result from our failure to prepare6.
That’s why planning ahead matters. It’s not just about finances. It’s about ensuring your wellbeing, dignity and values continue to be respected even if you can no longer express them.
Beyond legal safeguards, financial protection matters too. Solutions like Singlife Dementia Cover provide much-needed financial support in the event of a dementia diagnosis, helping to offset the cost of care and relieve the pressure on your loved ones, the people who may one day have to walk this path with you. If you’re unsure of what resources are available to you, Singlife CareCollab provides you with the tools to get started.
The peace of mind that comes from being prepared
Death is never an easy topic, but confronting it early can be one of the most empowering decisions you make. Planning ahead isn’t about dwelling on the inevitable, it’s about making sure your loved ones are met with clarity, not chaos. Even Madam Halimah acknowledges that legacy planning is sensitive and that the younger generation may find it difficult to broach the subject of death. As she said at a Silver Caregivers Cooperative symposium, “Conveying our last wishes, or communicating to our loved ones our preferences regarding funeral rites and religious traditions, is critical so that they have clarity.” 6
By taking a few simple but powerful steps like updating your CPF nomination, writing a will and clearly outlining your wishes, you create a smoother, kinder path for those left behind. You’ll help them bypass unnecessary legal hurdles, avoid administrative fees, and focus on what really matters: grieving, healing, and remembering.
Peace of mind doesn't come from avoiding these conversations. It comes from having them and making the decisions that follow. Death may be inevitable. Confusion, conflict and financial strain don’t have to be.
Notes
1. Source: YouGov, “Lasting Power of Attorney (LPA) to CPF nominees: How common is end-of-life planning in Singapore?”, accessed on 30 August 2025.
2. Source: Singapore Management University, “SMU survey: Majority of Singaporeans Delay End-of-Life Planning until it’s Too Late”, accessed on 30 August 2025.
3. Source: Ministry of Law, “Unclaimed Monies held by the Insolvency and Public Trustee’s Office”, accessed on 30 August 2025.
4.Source: Channel News Asia (CNA), Money Talks, “What exactly does a CPF nomination include?”, accessed 23 September 2025.
5. Source: Central Provision Fund (CPF), “CPF Nominations”, accessed on 30 August 2025.
6. Source: The Straits Times, “Seniors should initiate legacy planning to provide clarity for loved ones: Halimah Yacob”, accessed 15 September 2025
