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  1. u/Varantain OP 1 7 hours ago
    There were some posts here previously suggesting the use of MyLegacy (like this one). Ironic how we can't trust our government to do this for us.
  2. u/sushisashimisushi 1 7 hours ago
    I feel like it’s more that nobody gives a damn about legacy planning and government doesn’t want to sustain a service that very few people are using
  3. u/outofpoint 1 7 hours ago
    The govt does already do it. That's called intestate law. If you dont like the way they distribute your assets, then you write a will.
  4. u/Varantain OP 1 7 hours ago
    The govt does already do it. That's called intestate law.
    Intestate law still requires an administrator to figure out what accounts the deceased has, which this service would have helped complement. Comparing apples to oranges.
  5. u/grandweapon 1 7 hours ago
    MyLegacy is more than that. You can write your funeral preferences (e.g. I had written a reminder that I had opted in for not just organ donation but whole body donation), and even account details and links to documents to help your spouse navigate things when you are gone. Really useful if you are the one managing most of your household's finances and bills. Instructions needs to be passed on to your NOK in a timely manner. By the time a will is executed, it may have been months or even years, depending on how complex it is. In the meantime, all your money is locked up, and your trading accounts, brokerages, old insurance policies, crypto wallets or whatever may not even be known to your family.
  6. u/tembusu17 1 7 hours ago
    The type of personal info stored is highly sensitive, and furthermore, it is all conveniently collected at one single place. The security risk is probably rated very high, and requires many safeguards for stronger protection. This means higher IT security compliance costs, while it is unclear how many people actually use it. I was contemplating using it until I got really uncomfortable assembling all my financial info, and wonder if I can deal with the worst case scenario of a data breach. Then I decided to just do it offline and tell family where to find the folder.
  7. u/grandweapon 1 7 hours ago
    It's gated behind SingPass, managed by GovTech. It's the same security as all the other information accessible via SingPass. If there is a breach, there are many other systems that are way more important and sensitive.
  8. u/overworkedengr 1 6 hours ago
    While you’re not wrong, that only applies if SingPass is the weak chain in the link. There could be vulnerabilities or bugs present in the LifeSG application or services.
  9. u/troublesome58 1 7 hours ago
    Damn. I didnt know this existed and I would have used it. Also good for storing email or phone pw etc that you only want your family to have after death
  10. u/grandweapon 1 7 hours ago
    What a shame. A casualty of GovTech's downsizing perhaps? Killing underused platforms even if they are really useful. I've shared MyLegacy with some friends and colleagues in the past, but nobody seems to have even heard about it. I had stored some of my bank details and other trading accounts and insurance details in there. Even login details for my emails and some other important accounts. Is there any alternative out there? An important one I have set up is Google Inactive Account Manager. After 6 months of inactivity of my Google account, Google will automatically give my wife access to the account.