SGX eases intestate claims for Central Depository assets under $5,000

The agency removed the legal documentation requirement.

From 22 November, the process for intestate claims on assets held with the Central Depository, valued at $5,000 or less, will no longer require next-of-kin to obtain legal documentation for deceased family members who did not leave a will.

According to the Singapore Exchange, obtaining legal documentation can sometimes cost more than the value of assets held with the CDP.

SGX, the Monetary Authority of Singapore (MAS), and the Public Trustee’s Office (PTO) collaborated to simplify the process for intestate claims with the CDP.

To minimise risks of abuse or disputes in small-value claims, applicants must secure consent from all beneficiaries and adhere to the conditions set out by the agencies before submitting their application to the CDP.

Conditions include obtaining a signed consent from next-of-kin entitled under intestate laws. The nearest living relative, determined by hierarchy (spouse, children, parents, siblings, or others), must provide consent if the applicant is not the closest.

There should be no disputes, the applicant must hold a CDP account, and documents like the death certificate must be verified via video call or in-person appointments.

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