Wills

Privileged Wills for defence personnel, a shield for their legacy

Despite existing for nearly a century, Privileged Wills remain a little-known legal right within the armed forces ecosystem.

How to create a living will and plan for end-of-life medical decisions with clarity

Living wills outline medical preferences for when individuals can't make decisions. The Supreme Court has simplified guidelines for creating and enforcing living wills, promoting autonomy and dignity in end-of-life care

What to do if your Will is challenged and how to protect your financial legacy

Writing a Will is crucial for succession planning, allowing assets to be bequeathed to chosen beneficiaries. Seek professional advice to ensure a well-drafted Will that minimises disputes and challenges.

Planning to write your will? Avoid these common mistakes

Writing a will requires careful consideration to avoid common mistakes that can lead to disputes and invalidation; consulting a professional can ensure a clear and effective will

Why setting up a family trust scores over making a will in estate planning

A family trust is a vital tool for estate and succession planning, offering flexibility, asset protection, and tax benefits. It helps avoid probate, ensures smooth wealth transfer, and safeguards assets from unforeseen liabilities.

Preparing a will online? Understand the process and its pitfalls

Online wills - pros and cons: These are convenient and affordable, but may not be suitable for complex estates or unique circumstances.

Careful, NRIs: This is how to ensure your power of attorney is a tool, not a trap

The challenges NRIs, among others, face in managing their affairs in India can be addressed by granting a PoA but there are precautions one must take

Inheritance planning: Why you must talk legacy with loved ones

When you’re ready to discuss your estate plan with your family, careful preparation is key. Be transparent about your intentions and ensure that your loved ones understand the rationale behind your decisions.

Why writing a Will is crucial for your estate planning

As per a recent Supreme Court ruling, nomination is a discharge of the company to give assets to a person till the legal heirs are established and ownership is eventually transferred. These two processes are different.

How family trusts can help senior citizens and their NRI children manage properties in India

Legacy planning for families with NRI children presents unique challenges, particularly with substantial real estate involved. While a private family trust can be an effective solution, it also comes with its own set of limitations and risks.

All you need to know how to ensure tax-efficient inheritance

Most people equate estate planning with writing and registering a will, but that is just one part. For larger estates, you must create family trust structures, assign Power of Attorney to the right member, and also engage in succession planning.

Gift deed or will: How should you leave your assets behind?

Unlike a Will, the Gift Deed is effective immediately on execution. In contrast the Will comes into force only on death of the testator. Both methods exist to help you pass on your assets; you need to choose your method wisely.

Estate planning: How to navigate the emotional journey of passing on your assets

It is often the anticipation of having to deal with emotional discomfort that discourages many families from devising an estate plan. It is important to recognise these emotions and deal with them constructively instead of leaving them unattended.

Plan to write your Will? Here’s the data you need to collect before you begin

In case of immovable property, details such as full address, plot/survey number, names of all the joint owners and area, especially in the case of land must be mentioned in the Will.

Uttarakhand’s Uniform Civil Code: What it means for succession, marriage, divorce and live-in relationships | Simply Save

Last week, Uttarakhand became the first state in India to pass a Uniform Civil Code Bill. In a conversation with Moneycontrol, Shri Venkatesh, Founding Partner at SKV Law Offices talks about how the bill is set to bring changes in matters of succession, marriage and divorce, among others, for the state’s residents.

There is a way: How fraudulent wills can be detected

In the case of suspicious circumstances, such as undue influence, fraud or coercion, the onus of proving the will’s authenticity falls on the propounder (often the beneficiary) of the will. In some cases, even if the will is not challenged but the circumstances give rise to doubts, the onus of satisfying a court’s suspicions lies on the executor of the will

Property rights: How does Uttarakhand’s Uniform Civil Code move the needle?

By introducing uniformity in laws related to marriage, divorce, and inheritance of property across religious communities, Uttarakhand’s Uniform Civil Code proposes to bring gender equality in the state.

Sebi proposes to make nominations in financial assets simpler

The regulator has suggested making nomination facilities for demat accounts and mutual fund investments better, facilitating easier transmission of financial assets after an investor’s demise

Children settled abroad? Here is how to Will your assets

Bequeathing your assets to children who are settled abroad is tough, if you have a lot of physical assets like property, gold or silver. You should consolidate them as your kids may find it difficult to dispose them later.

How rich young Indians can write an effective, fool-proof Will

A Will not only serves as a guide to caring for their children financially but also allows young parents to spell out specific wishes about preferred guardians, educational options, religious upbringing and so on that can affect children’s well-being.

How debts can resurface after demise and become a headache for heirs

A businessman’s personal assets might be protected if s/he takes a business loan, but if there is evidence of cheating or if the amount is disputed or contested in court, the personal assets can be liquidated to pay off the debt. This takes precedence before legal heirs can claim their rightful share.