Your Estate Plan in One Page

The capacity to manage risk... is the boundary between modern times and the past. (Peter Bernstein, "Against the Gods". An estate plan is that idea applied to the one certainty — and its uncertain timing.)

Estate planning sounds like something for the old or the wealthy. It is neither. It is simply writing down, in advance, two things: who makes decisions if you cannot, and who receives what when you are gone. Done early, it is short, cheap, and a kindness to the people left behind.

1. Say who decides if you lose capacity. A Lasting Power of Attorney names someone you trust to manage your money and care if illness or accident takes your decision-making. Without it, your family must apply to court — slower and costlier.

2. Say who receives your CPF. Your Central Provident Fund savings do not pass under a will. A free CPF nomination sends them straight to the people you choose.

3. Say who receives your insurance. A nomination on each life policy routes the payout directly, without waiting on the rest of your estate.

4. Write a will for everything else. Property, bank accounts, and investments in your sole name pass under a valid will. No will means the law decides the shares for you.

5. Note your medical wishes. An Advance Medical Directive records, in advance, whether you want extraordinary treatment if terminally ill and unconscious.

These five fit on one page. Most people can complete them in a few afternoons, and they cost little. The hard part is starting — so start with the one that protects the people who depend on you most.

Illustrative example: the five documents, in order

The flow shows the sequence — capacity first, then the three "who receives what" pieces, then your medical wishes. Each is a separate document with a separate job; together they form a complete plan. You do not need to finish all five at once, but a plan missing any one leaves a gap the law or a court will fill for you.