I’m in my 50s and looking to draft my Will. I expect to inherit some assets from my parents, which may include their flat and financial holdings, after their passing. Can I include these future assets in my Will now, or will I need to make a new Will after I inherit them? —Name withheld … Read more
My sister converted to Christianity although my family is Hindu. In the event of my father’s or mother’s demise, how would the succession of assets happen if they did not create a will? —Name withheld on request In the event of the demise of your father or mother without leaving a will, the distribution of … Read more
My father died due to covid two years ago and he didn’t leave behind any will. My mother, who is in her seventies, has clearly mentioned that she doesn’t want to write a will either. A few years back, I bought a flat in Mumbai with my mother as a co-applicant. I have paid regular … Read more
The active involvement of women in estate planning has always been a grey area. While traditional perceptions are changing, there is still a mind block in the way of giving women a bigger say in estate planning. Let us go back to what the Hindu Succession Act, 1956, says about the property rights of women? … Read more
I inherited ₹20 lakh in cash and two house properties. Subsequently, I gifted ₹10 lakh in cash and one house to my maternal aunt residing in South Africa. Do I need to pay income tax on the entire inheritance, or only on the remaining amount after allocating my aunt’s share? Additionally, should I declare this … Read more