๐ผHAVE YOU MADE YOUR WILL?๐ผ
This blog has been re-done as a 5-part series of posts. This was because the contents grew to cover a large number of topics possibly making it difficult to go through in one reading. The contents have been suitably arranged in a particular sequence.
An MS Word template for a Will is also given in the last part, Post 5 of 5
The complete indexed list of links is below.
Make your Will now – Part 1 of 5
Key terms in Making a Will- Nominations Beneficiaries Part 2 of 5
Drafting a Will - Guidelines and tips Part 3 of 5
Without a Will - Burdens on your loved ones after you pass -Part 4 of 5
Living Will or Advanced Medical Directives - Post 5 of 5
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Irs a very useful piece of writing.
ReplyDeleteEveryone needs to ensure smooth transition post death and it can only be done when alive.
I read in newspaper recently that some states are soon going to insist on the court process for certificate of inheritance due to too many frauds happening. I don't really have the details.
Thank you very much. Yes, there is a court process call a probate, but as of now, it is required only in Mumbai, Chennai and Kolkata. A probate will be required if there is a disagreement amongst the heirs about the distribution of estate. Otherwise, if the nominations are in place, and the will is clear, then a probate should not be required.
DeleteA probate will cost the heirs a lot in court fees, lawyer fees and court appearances. The last can be especially troublesome if they have to travel for each visit sometimes from abroad. It is therefore best to amicably decide on the distribution of your estate and then finalise the will.
Registering the will should help in reducing fraud.
It's a very useful article. Very elaborate information which will help people to understand the need and will inspire them to make a will. Last year we did it and had to face many questions like .....เคเคค्เคคा เคเคคเค्เคฏाเคค เคเคถाเคฒा เคेเคฒं ? เคคुเคฎ्เคนाเคฒा เคคเคฐ เคเคเค เคฎुเคฒเคी เคเคนे etc etc. But this article will help a lot of people and their misconceptions can be disspelled.
ReplyDeleteAbsolutely correct, there are many amongst us that feel the same way - that I have only one child and in any case, everything goes to him/her. The harsh reality hits when that only child tries to get everything transferred. One has to also keep in mind that the spouse should be the first beneficiary of the estate, and only after both are no more, should the child(ren) inherit.
DeleteA sequential listing of the heirs will ensure this, until you can redo the will in case of major changes.
Appreciate your comments. Please pass on to as many people as you can, I have often seen problems coming in the way of smooth transition in many cases.
Very well crafted and informative blog.
ReplyDeleteOnly one information and one input.
The doctor who filed a case in the SC and won the right of living for Indians is Dr Nikhil Datar, based at Malad, Mumbai.
He is a famous Gynaecologist who als jas fought and won many rights for Pregnant women.
And the input is, as per Maharashtra Co-operative Housing Society act, a nominee can be made only a temporary with only maintenance and upkeep rights of the flat.
The ownership goes to either as specified in the will of the deceased or as per the Heirship certificate issued by a competent Court.
Thank you for your comments, sir. I will update this information on the page too.
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