Why and how often should I update my will and estate plan? A Will makes succession less complicated and simpler. However many family members do fight and challenge Wills. As per Estate planning experts, this is mainly because of loop holes, overlaps or contradictions in the document arising due to people failing to revise and update their Will periodically. Since Assets and properties increase or decrease with the passage of time, it is a good idea to review the document […]
Category: WILL and Estate Planning
How Often Should I update my WILL
Importance of making a Will
Do you want to leave your wealth and let your loved one’s fight with each other to get their shares? We guess not! If you nominated someone in all the financial products you bought and thought that it will be passed to them legally without any issues, you are having a misconception. You need to create a Will to distribute your wealth in the manner you want to. What is a Will? A Will can be made by anyone above […]
What legal matters are to be considered before writing a Will?
According to the Indian Law, “Will is the legal declaration of a person’s intention which he wishes to be performed after his death and once the Will is made by the testator it can only be revoke during his lifetime.” A person cannot give his ancestors property in the form of a Will but he can make a Will only of his Self-Acquired property . A Will regulates the succession and provides for succession as declared by the testator. The statutory […]
Is your WILL in place. What’s your excuse!
1. I do not really have significant assets The real question is whether you have dependents and are these assets significant for them? If you do have dependents, then making sure that they have easy and unfettered access to your assets is critical. A Will in this situation becomes imperative.