By Stephen Mok, Financial Consultant, IPP Financial Advisers Pte Ltd
Within a short span of 6 months, 2 female relatives of mine had been diagnosed with cancer. Both are in their early sixties. One had cancer of the womb and the other had bone cancer.
The first one was a simple factory worker, staying in a 3-room flat while the second was a multi-millionaire business woman, staying in District 9. Both were expected to live for a few months as they were at the fourth stage of cancer. They did not detect the cancer cells earlier due to ignorance and refused to go for medical checkups.
1) The first relative was warded at Kandang Kerbau Women and Children’s Hospital (a government restructured hospital) and underwent chemotherapy after the doctors confirmed the presence of the cancer cells. She went in and out of the hospital many times for check ups, scans, medication and counseling.
Unfortunately she suffered a stroke after a week of chemotherapy and became bedridden. She could not move the right side of her body. She lost all her hair and her weight fell quickly till she looked like some malnourished refugee in some third world country.
Finally, she passed away 2-weeks ago in her own home with her family beside her as she did not want to die at the hospital. Her husband and 3 children were devastated with her sudden death and gave her a grand Chinese funeral with cost them more than $30,000! They were initially expecting the cost to be around $10,000. Emotions ran high and whatever the funeral directors proposed, they agreed. Cost was not an issue since they wanted the best for her in her after life. A huge paper 3-storey mansion, a paper Mercedes car, a male and female paper servant doll plus billions of dollars worth of Hell paper notes were burnt in one night to give her a comfortable after-life.
2) The second relative (the multi-millionaire) was warded at Gleneagles Hospital 3 days ago, with 4 medical specialists attending to her and giving her the best present day medical science can offer. She shuttled between Gleneagles Hospital and Mt Elizabeth Hospital to seek treatment and advice from the best in the medical field. Money is not a concern at all but death is still expected to take her away very soon.
Death is a respecter of no one, whether rich or poor. As Plato, the philosopher said, “There is no certainty than the certainty of death and there is no certainty than the moment and timing of death” Death is certain but no one knows the moment and timing of death.
Since we know that death is certain, why don’t we plan for it just like the way we plan for a holiday this December? By planning, I mean we should instruct our next of kin, by way of a will, the desires of our hearts after we leave this world. We should not let them squabble, quarrel and even take legal action to enforce what they think was our desire.
As an independent financial planner, not only do I plan for the living benefits of a person, I can also help plan the wealth distribution of a person after death.
If you want a smooth transition and transfer of your financial assets to all your loved ones with minimal delay, you can start by getting a lawyer to draft a will and I can help you arrange how your financial assets can be distributed to the proper beneficiaries.
If you want a no obligation discussion, please contact me for advice.
IPP Financial Advisers Pte Ltd
Tel: +65 6309-0128
Fax: +65 6309-0129
Mobile: +65 9001-1082