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In Case of Death
The administrators of a customer's estate should quickly inform BullionStar of the customer's death and provide a copy of the death certificate. BullionStar will then cease activities on the customer’s account until we have completed further verification.
The administrators should apply to a Singapore court to be appointed as the administrators over estate assets in Singapore. If the administrators have already obtained a Grant of Probate or Letters of Administration outside of Singapore, they should apply to the Singapore court for either a Reseal of the Foreign Grant, or a Grant of Probate (if the deceased Customer left a will) or Letters of Administration (if the deceased Customer did not leave a will) for the assets in Singapore (“Grant”). A lawyer in Singapore can help with these. The Law Society of Singapore publishes on their website (www.lawsociety.org.sg) a list of lawyers who can help with Trusts, Wills and Probate.
The appointed administrators must then provide us with a certified true copy of the (1) Grant (or Reseal of Foreign Grant) and (2) identifying document of each administrator. BullionStar will verify the customer’s particulars on the Grant against our records so it’s important that the Customer’s name and address on the BullionStar account matches those on his/her passport, identification card or driving license.
For trust accounts, the succeeding trustee should show us that he/she has replaced the deceased trustee. This can be a copy of a recent bank statement showing the succeeding trustee’s name and address, the name of the trust, and him/her as trustee for the trust account. We will also need to sight the identifying documents of the succeeding trustee.
Once the necessary documents and information have been verified, the administrators will be able to access the account. There will be a processing fee of SGD 500, or 1.5 % of the value of the bullion stored under the account, whichever is higher.