Be an informed Smart Wealth Owner
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This document provides essential information about writing wills in India, emphasizing that a will on plain paper with two witnesses is legal and registration is not mandatory. It highlights the importance of having a will for the distribution of assets to avoid legal complications and explains the roles of nominees and joint ownership. The document also mentions that will writing is becoming easier in India, similar to practices in developed countries, and offers resources for further information.
Be an informed Smart Wealth Owner
- 1. z Be an Informed Wealth Owner Get Your Myths Clarified About WILL
- 2. z Do You Know § In India a WILL written on Plain Paper with Two Witnesses is 100% Legal … NO stamp paper is required.
- 3. z Do You Know § Registration of a WILL is NOT Mandatory in India, very few individuals get their Will registered
- 4. z Do You Know § Even a Single Asset Like a House, Insurance Policy, Bank Account, Demat Account ….. require a WILL to clearly instruct family for Distribution of asset to avoid any misunderstanding, disputes, legal case, de-bonding.
- 5. z Do You Know § If WILL is not available, all assets has to be distributed as per succession laws by legal process. For Example – for a Hindu Male > all assets distributed equally to Living Mother, Souse, all Sons, all daughters (including Married)
- 6. z Do You Know § If there is No-Will - Transfer of High Value Assets like Flat, Demat Account could be a full of hassle – a Succession Certificate is insisted which is issued by Court, it takes 6 months time and cost about Rs. 1 Lac
- 7. z Do You Know § A Nominee is just a Trustee and can not be an Owner of asset. Nominee has to give Asset to Legal Hiers as per WILL or as per Succession Laws (if there is no WILL)
- 8. z Do You Know § For Joint Assets like Flat, Demat or Bank Account – all joint owners has rights and no single person can claim 100% ownership even if he / she has invested for full value of asset hence even a spouse has to write a separate WILL
- 9. z Do You Know § NRI can save ’inheritance tax’ in their residence country if they make a separate WILL as per Indian laws for all assets based in India
- 10. z Do You Know § Smart Planning for business succession of shop, factory, company, firms etc. can allow Your Family a huge future wealth continuously for many years to come
- 11. z Do You Know § No One Here Know His / Her “Date of Expiry” hence Many of Us Get Life Insurance, so Why second thought for writing a WILL
- 12. z Do You Know § WILL writing is common like mediclaim policy in all developed countries. WILL is a part of Financial Planning includes Earning Wealth, Managing Wealth, Multiplying Wealth and Succession Planning of Wealth.
- 13. z Do You Know § Writing a WILL in India is now become hassle-free like US, UK, Canada, Australia. Now write a WILL online in 30 minutes – no call, no visits, at your time, at your place, 100% confidential, 100% Legal.
- 14. z Do You Know § Succession Planning includes ..... § > writing a Will or Joint Will § > creation of Family Trust
- 15. z Do You Know § You can get FREE FAQ eBook in 12 Indian languages to know basic Q & A about WILL subject, visit….. www.willjini.com
- 16. z Know More § www.willjini.com § Mumbai, India § Email – support@willjini.com § Contact – 8767404044 § (022) 26839651-52-53