How to protect your portfolio against sudden incapacity
Spent years growing your wealth? Don't leave it in legal limbo if life takes an unexpected turn. Discover smart ways to safeguard your assets for those who matter most.
You can have enough money and still leave your family unable to touch it and if an illness or accident takes away your ability to make decisions, assets held in your sole name can be out of reach of the people who need them most. For many people who plan carefully for retirement, this is the gap they never think to close.
In this episode of Money Hacks, a podcast from The Business Times, Howie Lim speaks with Vince Koh, relationship manager at PhillipCapital, about the legal instruments that protect a financial plan, and how they fit together.
Why listen
- What happens without a Lasting Power of Attorney Koh explains why family members may have no legal authority over a portfolio in your sole name. The alternative is the court deputyship process, which he says can take three to four months, meaning a stranger to you may be chosen to act for you.
- Four instruments, one plan A Lasting Power of Attorney works while you are alive, while a will, a CPF nomination and an insurance nomination take effect after you die. Koh explains why insurance nominations can release funds to families faster than probate.
- Where wealthier investors face more risk A leveraged portfolio that needs a top-up can be liquidated while you cannot act. Private equity funds with long lock-ups can also baffle a proxy who has never handled them.
- Choosing the right person Trust is not enough, Koh says. You also need the willingness, time and financial knowledge to deal with banks, insurers and brokers on your behalf.
This is a practical checklist for anyone whose wealth plan stops at investing. Listen now.
Discover more episodes at bt.sg/podcasts. Got feedback? Email us at btpodcasts@sph.com.sg.
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Written and hosted by: Howie Lim (howielim@sph.com.sg)
With Vince Koh, relationship manager at PhillipCapital
Edited by: Howie Lim & Claressa Monteiro
Produced by: Howie Lim & Chai Pei Chieh
A podcast by BT Podcasts, The Business Times, SPH Media
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ABOUT THE PODCAST
Money Hacks is a crisp, weekly podcast hosted by Howie Lim. Every Monday, it unpacks personal finance strategies and investing insights through conversations with expert guests. Whether it’s navigating employee perks, finding resilient sectors, or exploring value-based investing, listeners get actionable financial wisdom without the waffle.
