On 19 September 2025, SMA hosted an exclusive Succession Planning Talk at the AIA Wealth Centre, generously sponsored by Precepts Trustee and RISE (representative of AIA). Forty-five SMA Members and their guests attended, keen to learn how they can prepare for the unexpected while protecting their respective practices, assets and legacy.
The talk underscored the importance of forward planning, with speakers sharing practical strategies such as the use of standby trusts to ensure seamless clinic succession, minimise disruption and provide peace of mind. The highlight of the evening was a series of real-life case studies, which brought the topic to life and illustrated the complexities of succession planning in practice. These examples offered relatable scenarios, sparked lively discussion and gave participants a clearer sense of how to structure their own succession plans.
The session also addressed pressing questions faced by many practitioners, such as what would happen to their clinics in the event of their unexpected passing, and whether a clinic could be passed on to non-doctor children and have its operations continued with an engaged medical professional.
Beyond the insights, the evening was also a chance for fellowship. Guests enjoyed a buffet dinner, a unique sake tasting experience and the opportunity to reconnect with colleagues they had not seen in some time. The blend of practical learning and warm camaraderie made the event both thought-provoking and enjoyable.
In response to overwhelmingly positive feedback and special requests, a rerun is planned for January 2026 for those who could not attend this session. Members who wish to reserve a spot may email joanneng@sma.org.sg.
SMA extends its heartfelt thanks to Precepts Trustee and AIA for their generous support. Their contributions made it possible for Members to gain valuable knowledge, practical insights and fresh perspectives on succession planning and legacy protection.
"Planning for the future, protecting your legacy" by Bruce Lam