A family member of a deceased Customer should notify BullionStar of the Customer's demise promptly and provide a copy of the death certificate. BullionStar will then cease all account activities until a personal representative is appointed.
The family member(s) of the deceased Customer should obtain from a Singapore court either (a) a Grant of Probate (if the deceased Customer left a will), or (b) a Grant of Letters of Administration (if the deceased Customer did not leave a will) (“Grant”). If a Grant has been obtained overseas, the family member(s) may obtain a Resealing of Foreign Grant from a Singapore court. These are often done with the help of a lawyer in Singapore.
The personal representative appointed by the Grant must then provide us with a certified true copy of the (1) Grant (or Reseal of Foreign Grant) and (2) identification document of every appointed personal representative.
It is important that the Customer’s name and address on the account will match the same information on the Grant. Therefore, the Customer should ensure that his/her BullionStar account bears the full name and address stated on his/her primary identification document. A mismatch of these information can result in expenses and delays for the personal representative.
For a trust account held in the name of a deceased trustee, the succeeding trustee should provide us with a copy of his/her identification document and documentary evidence that he/she has replaced the deceased trustee. The documentary evidence can be a copy of a recent statement of the existing bank account of the trust reflecting the same account number and the name of the succeeding trustee as trustee of the account.
Once we have verified the documents and information, we will immediately permit the personal representative to access the account. A processing fee of SGD 500, or 1.5 % of the value of the bullion stored under the account, whichever the higher, applies.
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