Writing A Will and Estate Planning

Writing a will has been on my mind for a long time, since Baby 1 arrived. But I've never got down to doing it. Now, with Baby 3, I find it even more compelling to do so.

Though I am not considered rich, if anything happens to me, my insurance, personal assets, my existing property all add to about $3-4M, they can be considered millionaires.

How should I apportion the assets so that they do not rely on the inheritance and become bummers?

Can I have a will that set out two scenarios - in the event only I passes on, and in the event that both my hubby and I passes on. [touch wood].

Should I set up a irrevocable trust? Can the shares that I have in CDP be transferred to the 3 of them? If not, how best to manage that? They are minors, and so SGX will not allow them to have individual accounts.

Should I set up a family investment company now and managed it as a company? What are the roles of executors? If I am clueless, how would my appointed executor know what to do? It is also not easy to find an executor who is  financially savvy enough to be able to execute my will according to my wishes, someone who is trustworthy and reliable to take care of such a sum of money and over at least the next two decades. I'll also need to find a trusted guardian to take care of the children. Wonder if I can designate two, in case one migrates or passes on before my kids grow up.

I wonder how does the other family structure this? I've been googling the internet but there aren't many articles on estate planning written in Singapore context.