Sign up for ST InvestMe and unlock full access to exclusive insights and financial literacy courses today.

SINGAPORE – Although it is hard to stop troublemakers from dragging the whole family to court, there are some creative safeguards that you can put in place to ensure that they do not win.

In perhaps one of the wisest legacy planning decisions in recent years, a woman had the foresight to ring-fence her substantial wealth because she did not approve of her son’s choice of his spouse.

Without any planning, the assets that a son inherits from his deceased parent can still be shared with his spouse if the inheritance is mixed with marital assets or used in the marriage.

For instance, if a son inherits a property which is then used as the matrimonial home, his spouse will be able to get a share if the couple files for divorce.

In this case, the wealthy woman, who had properties worth over $50 million, created a trust for her two children, adding a special clause to bar the sale of her real estate until the 25th anniversary of her death.

Until then, her children were each permitted to withdraw only a sum not exceeding $10,000 per month from the estate.

Her decision to do so turned out to be a wise one because her son and his then wife filed for divorce a few years later and the inheritance was not included in the matrimonial pool for division.

The woman put a 25-year bar on the sale of her real estate because she probably figured that if the couple could stay together for that long, her son’s spouse deserved to get a share of the family’s assets.

The good news is that you do not need to be rich to make good legacy decisions.

You can also instruct your lawyer to include a similar time bar, even if you own only ...