The Estate Law of Singapore Part 1.

Question: John age 30 and Amy age 25 are husband and wife. Very loving couple indeed because one day they decided to celebrate their 10th wedding anniversary in Venice. Of they flew from Changi Airport to Venice. However the airplane crash landed somewhere over Asia due to engine malfunction. No one survived the crash. John had 1 million dollar in his Singapore bank account, 300,000 sum assured upon death from his insurance account, a Condo in his name but not Amy's and finally a Volvo S80. He and Amy died without any Children but both their parents are their only surviving kin. He got no will. In this instances, by law and by right who should get all this assets?

Answer: The law assume John died first before Amy even if the plane exploded in a ball of fiery. So automatically upon Jon death, all the assets goes to Amy, his wife. Again the law assume Amy died a few moments later. Now since all the assets was Amy a few moment ago, the assets now goes to Amy next of kin, her parents. So in the above scenario where both of them died in an airplane crash. John parents get nothing while Amy parents get EVERYTHING. Thats the Estate Law of Singapore Part 1.