Fatal Tampines crash: Give.Asia to hold $487k raised for orphaned boy until legal trust set up
The crowdfunding platform Give.Asia is holding over $487,000 raised for a six-year-old boy. The child was orphaned following a fatal crash in Tampines. The platform will safeguard the money until legal and financial arrangements are established. This measure ensures the funds are managed in the child's best interests. The platform responded to questions about how the money would be disbursed given the boy's age. The goal is to provide lasting financial security for the child as he grows up.
More than $461,000 raised for a six-year-old boy orphaned in the fatal Tampines crash will remain safeguarded until legal and financial arrangements are put in place to manage the funds in his best interests, crowdfunding platform Give.Asia said in a statement on Wednesday (Nov 4).The crowdfunding platform was responding to questions about how the funds, which have since risen to $487,000 on Thursday based on checks by AsiaOne, would be managed and disbursed, given the boy's young age.Give.Asia stressed that its primary focus is to ensure the overwhelming outpouring of community generosity translates into meaningful, lasting financial security for the child as he grows up.The boy's family shared their intention to establish a dedicated bank account in the child's name to reserve the funds collected for his upbringing, education, healthcare and long-term financial security, according to Give.Asia.