The country in which a person is, or is presumed to be permanently resident; the place of a person's permanent home. To determine a deceased's place of domicile, you may consult a lawyer.
The person appointed under the Will to manage the assets belonging to the estate of a dead person is known as an Executor. If there is no Will, the legal representative who administers the estate is known as an administrator.
Grant of Representation
- Grant of Probate
It is a Court order authorising the persons named in the deceased's Will to administer his estate according to his Will.
- Grant of Letters of Administration
It is a court order authorising the person(s) named in it to administer the estate of a deceased person according to the law. This applies in the event a person dies without a Will or the named executors do not want to prove the Will. For more details on obtaining a Grant of Probate/Letters of Administration, refer to the Subordinate Courts website on How to apply for probate and Letters of Administration?
Net Asset Method
Total Assets less Total Liabilities including Goodwill. Goodwill is the average of the three years (nearest to date of death) of Net Profits Before Tax.
Private Limited Shares
Shares not traded in any Stock Exchange.
The legal process by which a deceased's assets are administered.
Public Listed Shares
Shares listed on the Stock Exchange of Singapore or the Stock Exchanges of foreign countries.