The FinTech Hub
Source: Live Mint I am a 44-year-old man who recently decided to get married. I have inherited some property from my deceased father, which I want my younger sister to inherit upon my passing. Please advise whether my pre-existing will would be revoked if I get married and if I need to prepare a new…
Source: Live Mint Why is it important to plan the division of an estate in detail? -Name witheld Assessing assets and liabilities A comprehensive estate plan enables the efficient distribution of wealth. By clearly defining how assets will be allocated, individuals can prevent disputes among beneficiaries and ensure their wishes are honored. Read this |…
Source: Live Mint Receiving an inheritance can be complex, especially if it involves cross-border transfers. Diya (name changed), a 60-year-old woman, found herself in a difficult situation when her father passed away in February 2023. She had dual US and Norway citizenship and an Overseas Citizen of India (OCI) card, and had been living in…
Source: Live Mint I am a textile merchant and I want to plan my estate in a way that it protects my wife, parents, and daughter after my death. What are the different things I should look out for? Planning your estate ensures your assets are protected and your family’s future is secure. Here are…
Source: Live Mint What legal steps can my family take if someone challenges my will? -Name withheld on request Drafting a will is a time-tested and widely used method of succession planning, enabling individuals to transfer their assets to chosen beneficiaries in a manner they deem fit. A will allows you to clearly define the…
Source: Live Mint How do I plan the smooth transition and safety of the estate that I have accumulated over my lifetime? -Name withheld on request The initial step in estate planning involves a thorough assessment of one’s assets and liabilities. This entails cataloguing all properties, business interests, investments, bank accounts, and personal possessions that…
Source: Live Mint Estate planning is essential for ensuring the well-being of loved ones and safeguarding wealth for future generations. While many perceive it as a task for the wealthy, having a robust estate plan is crucial for anyone who wishes to secure their family’s future. Wills and private family trusts are two primary tools…
Source: Live Mint 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…
Source: Live Mint I want to prepare my will and donate everything to charity instead of leaving it to my children. I am 68 years old and a divorcee, with four children who are all well-off. Is there anything I should consider? —Name withheld on request We assume that the assets and properties owned by…
Source: Live Mint When tragedy strikes, the complexities of inheritance laws add another layer of hardship. This unexpected reality, often rooted in religious laws, underscores the importance of estate planning. For instance, a young Muslim widow may be left with just a fraction of her husband’s estate under Muslim inheritance law (Muslim Personal Law (Shariat)…
