Oct 06, 2021 10:13 AM IST
In 2018, the Supreme Court accepted the concept of Living Wills and held that the right to die with dignity is a fundamental right under the contours of the Indian constitution
- Oct 01, 2021 02:49 PM IST
Many of us hesitate in drafting a Will and making nominations. But the onset of Covid-19 has shown that life is uncertain. Inaugurating an initiative of the Association of Registered Investment Advisers (ARIA) to help stranded people cope with succession planning upon losing their loved ones to Covid-19, KV Kamath shared his views on the importance of timely planning your will.
- He stressed upon the need to make nominations in our existing as well as new investments
- Kamath also stressed upon the need to have standardisation of forms and processes required in succession planning
Who is KV Kamath?
KV Kamath was the former Managing Director and CEO of ICICI Bank and then its Chairman from 2009-15. He was also the Chairman of Infosys between 2011 and 2015. He came back to India last year from Shanghai where he served close to five years as the chief of the New Development Bank of BRICS countries.
- Sep 08, 2021 09:03 AM IST
A well-kept inventory of your financial assets helps in smooth succession planning. It also prevents leakage, later
- Sep 03, 2021 09:04 AM IST
It is important to keep a record of your finances and your key advisors around you. In case of any unfortunate eventuality, your assets can be passed on smoothly to loved ones
- Aug 06, 2021 10:57 AM IST
While a DIY approach may help save some costs, one should adopt this route only when one is sure that their situation is pretty straight forward and would not put the beneficiaries of the Will to any inconvenience
- Jul 09, 2021 08:47 AM IST
COVID-19 and its death trail have highlighted the importance of Will more than ever before. Partition of assets when a deceased has not left a Will behind, can be acrimonious
- Jun 24, 2021 10:18 AM IST
Writing a Will is an extremely important activity, and it is highly advisable to take proper guidance from an experienced professional
- Jun 23, 2021 10:51 AM IST
A good estate plan not only addresses your current needs, but also assesses all possible tools considering your unique circumstances
- Jun 09, 2021 10:51 AM IST
You should keep reviewing your Will periodically. It must factor situations such as birth, death, marriage of a family member, purchase of new assets and legislative changes
- May 27, 2021 11:03 AM IST
In the absence of a Will, intestacy laws will ascertain how your assets are passed on, which may go against the interests of your loved ones
- May 18, 2021 10:07 AM IST
Spouses must plan for paying alimony. Those who receive a sudden gush of cash settlement must wait and invest the amount carefully.
- May 12, 2021 09:46 AM IST
Millennials have witnessed their parents losing jobs or taking pay cuts. They have consequently woken up to the fact that traditional methods of financial planning may not provide an adequate buffer
- May 11, 2021 10:00 AM IST
Marriages can break-up despite years of togetherness, like Bill and Melinda Gates'. Maintaining separate bank accounts and investments, with proper nomination help in untangling assets.
- May 06, 2021 10:38 AM IST
If you do not have an estate plan in place, the distribution of your assets would done according to the government’s intestate succession laws
- May 04, 2021 10:46 AM IST
Checking bank account entries, mutual fund and insurance statements of the deceased can give an idea of their assets and liabilities
- May 04, 2021 09:45 AM IST
While the rich get their investing and spending habits spot on, they tend to go slow on transferring their assets.
- Mar 31, 2021 10:48 AM IST
Aside from thinking of death when it comes to making a Will, many of us procrastinate on our estate planning because we think it could lead to a family feud later. Ironically, not leaving a Will behind can lead to a family feud later.
- Mar 25, 2021 11:41 AM IST
With the increase in the number of expatriates globally, a large number of individuals now own assets across multiple jurisdictions. As succession laws differ across countries, formulating a comprehensive estate plan is a critical decision for individuals
- Mar 17, 2021 09:41 AM IST
Even probates granted by high courts are unnecessarily put to further scrutiny by RTAs, thus delaying transfer shares to legal beneficiaries
- Mar 08, 2021 09:27 AM IST
Presently, the law does not provide superior rights to a woman's natal home in relation to her property
- Jan 05, 2021 10:20 AM IST
A Will works for smaller families with simple inheritance objectives, is cost-effective and easy to draft and modify for the testator. Through a Trust, you can achieve advanced and tailor-made estate-planning objectives
- Dec 30, 2020 10:31 AM IST
Missing or incomplete documents could lead to delay and perhaps avoidable legal costs
- Dec 22, 2020 10:32 AM IST
Write a Will. It is important. It not only protects the legal heirs, but also gives the deceased the full authority and charge over his or her assets
- Oct 12, 2020 10:18 AM IST
To save stamp duty and time, some transfer properties through gift deeds. But parents must ensure that gift deeds are water-tight
- Sep 07, 2020 11:43 AM IST
Financial advisors recommend that you share a copy of your Will with your heirs in your lifetime