A will is a legal document that specifies how a person’s assets and belongings should be distributed after their death. It allows the individual, known as the testator, to ensure their wealth is passed on according to their wishes rather than being distributed as per default inheritance laws. A will can cover various assets, including…
To address such scenarios, the Securities and Exchange Board of India (Sebi) has rolled out revamped rules that allow nominees to manage the accounts of physically incapacitated investors without requiring a power of attorney (POA). Announced on 10 January, these rules aim to provide families with a financial safety net. However, experts warn of limitations…
Preserving family wealth and ensuring business continuity across generations is intricate and involves legal, financial, and strategic considerations. Recent survey insights reveal a growing appreciation among affluent Indian families for the importance of this essential endeavour. Succession planning: An imperative Succession planning is not merely about deciding who inherits what; it is a multi-layered process…
Securing our family’s future is topmost priority for most of us. Alongside taking insurance policies and making investments, there is a crucial step in this—estate and succession planning to ensure our family inherits our assets without delays, hardship, or confusion. Yet, this aspect is often neglected due to the anxiety and discomfort arising from contemplating…
MUMBAI : Raj went through a divorce five years ago and is now remarried to Anita (who is also divorced from her husband). Raj has two children from his previous marriage and one from his new marriage. Anita has one child from her previous marriage as well. Raj hasn’t formally adopted the child of Anita’s…
My brother-in-law passed away in a hospital last year. Before his death, he gave oral instructions on how he wanted his assets divided and asked me to carry out his wishes. He did not leave behind a written will. Now, his mother is claiming a share of his assets, which my sister is contesting based…
