Latest news with #LimFungPeen
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CNA
3 days ago
- Business
- CNA
Money Talks - Protecting yourself from property disputes
Money Talks Play Property disputes – especially among family members can lead to painful and costly legal battles. What can be done to avoid these conflicts before they escalate? Andrea Heng sits down with Lim Fung Peen, director and head of family and private wealth practice group at Yuen Law LLC.
CNA
3 days ago
- Business
- CNA
Money Talks Podcast: Protecting yourself from property disputes
Property disputes – especially among family members can lead to painful and costly legal battles. What can be done to avoid these conflicts before they escalate? Andrea Heng sits down with Lim Fung Peen, director and head of family and private wealth practice group at Yuen Law LLC. Here is an excerpt from the conversation: Andrea Heng, host: Let's go into the technical aspects of a property dispute. How are they first raised? What are the key steps you would take once that case lands on your desk? Lim Fung Peen, from Yuen Law LLC: So typically how things go in Singapore, mostly people will make inquiries at the law firm. They will write in an email and then say: 'This is the problem.' … So whatever the inquiry is, the proper thing to do is have a meetup and have a discussion, and discuss with the client their objectives. And also, what I would do is propose certain options. One of the first options is not to go to court … (but) … to advise the client of their rights. Because some people come with misconceptions of what they're entitled to. So some people need a reality check. So the first step is always to get advice and (an) assessment, and then your legal adviser can just tell you: 'This is the score. This is where you stand.' … So the first thing (would be) assessment, given the kind of options, one of the options could be to strengthen their case, gather more evidence. But finally, you reach a stage where again it's not go to court. It's to write a letter to the other side and … make a proposal. Say: 'Look, this is the situation. This is my stand. I think this is a fair proposal. I pay you this, or you pay me this, and we do this.' Andrea: So it's essentially mediation, up to a degree. So at what point then, does it end up in court? Fung Peen: It's not quite mediation. What we call it is negotiation. So you write a proposal letter and wait for the other side to respond. Most lawyers will actually go through this process of negotiation by letter. At least one round, two rounds. When that doesn't work and then we have to see. You mentioned mediation. In Family Justice Court and in the State Courts, there are court mediations which are free, which is very good. That means the court doesn't charge for it, but that's because I think our courts really believe in mediation. And since I've been in practice for 28 years, there's always been this, and it's been going from strength to strength. So I'm a firm believer in mediation because I think mediation is also a way for the mediator to give parties a reality check, because everyone thinks their case is bound to win.
