The following article was first published in the Mint newspaper on 12th September, 2023. The same was written by our Private Client team at Cyril Amarchand Mangaldas, who frequently publish their comments and opinions in the Mint. The online version of the article can be found here.Continue Reading Is it possible to sell any property after registering it as gift deed?
The following article was first published in the Mint newspaper on 15th August, 2023. The same was written by our Private Client team at Cyril Amarchand Mangaldas, who frequently publish their comments and opinions in the Mint. The online version of the article can be found here.
—Name withheld on requestContinue Reading Is there a tax-friendly method for dividing my mother’s property?
The following article was first published in the Mint newspaper on 08th August, 2023. The same was written by our Private Client team at Cyril Amarchand Mangaldas, who frequently publish their comments and opinions in the Mint. The online version of the article can be found here.
—Saranya NTContinue Reading Can a married woman set up a HUF with just her parents?
The following article was first published in the Mint newspaper on 30th May, 2023. The same was written by our Private Client team at Cyril Amarchand Mangaldas, who frequently publish their comments and opinions in the Mint. The online version of the article can be found here.
I have a son (17) and daughter (21). My daughter plans to go abroad for two years. I have two queries: i) How much money can I send her in a year, and can it be every month or does it have to be once a year? ii) I have created a private trust for the benefit of my children. Can I send the money through a private trust?
—Name withheld on requestContinue Reading How to send money to your adult children living abroad
The following article was first published in the Mint newspaper on 29th March, 2023. The same was written by our Private Client team at Cyril Amarchand Mangaldas, who frequently publish their comments and opinions in the Mint. The online version of the article can be found here.
What is a living will? Is it any different from a regular will?
—Name withheld on request
A living will is a written legal document that individuals can execute during their lifetime, whereby they can specify whether they shall or shall not be given medical treatment in the future if they become terminally ill. It does not deal with the disposal of any property, either during one’s lifetime or after death. On the other hand, a last will and testament is a formal, legal declaration of the intention of individuals with respect to their property which they desire to be carried into effect after their death—strict formalities apply to its execution and implementation.Continue Reading What is a living will and how is it different from a regular will?
The following article was first published in the Mint newspaper on 14th February, 2023. The same was written by our Private Client team at Cyril Amarchand Mangaldas, who frequently publish their comments and opinions in the Mint. The online version of the article can be found here.
A woman sold her share of the ancestral property in 1960. Can her three children, all of whom were born after the sale, have any claim in the ancestral property?
—Name withheld on requestContinue Reading Can children claim rights over property that has been sold?
The following article was first published in the Mint newspaper on 17th January, 2023. The same was written by our Private Client team at Cyril Amarchand Mangaldas, who frequently publish their comments and opinions in the Mint. The online version of the article can be found here.
‘Should I write a will or form a trust to distribute my assets?’, mentioned setting up a trust with a daughter as trustee and adding one more person as trustee and beneficiary. As far as I know, a trustee cannot be the beneficiary. Please confirm if this is correct.
—Dinesh HariaContinue Reading Can trustee also be a beneficiary while setting up a trust in India?
The following article was first published in the Mint newspaper on 7th December, 2022. The same was written by our Private Client team at Cyril Amarchand Mangaldas, who frequently publish their comments and opinions in the Mint. The online version of the article can be found here.
I want to transfer certain shares from my elder brother’s HUF (Hindu undivided family) account to my individual account as he is more than 75 years old now. I am not a member of his HUF. What is the legal procedure to transfer these stocks?
—Name withheld on requestContinue Reading What is the legal procedure to transfer shares from my brother’s HUF account?
The following article was first published in the Mint newspaper on 8th November, 2022. The same was written by our Private Client team at Cyril Amarchand Mangaldas, who frequently publish their comments and opinions in the Mint. The online version of the article can be found here.
I had prepared a will in 2019 and got it registered. Now, I need to make some changes to it and include some additional items. Can I get the original will deed modified and get it registered again?
—Name withheld on requestContinue Reading How do I make changes to a will that was registered 3 years ago?
The following article was first published in the Mint newspaper on 1st November, 2022. The same was written by our Private Client team at Cyril Amarchand Mangaldas, who frequently publish their comments and opinions in the Mint. The online version of the article can be found here.
I am 76 years old and hence want to write a will. I have two houses worth ₹2 crore. We are living in one of the houses and the other is rented for ₹75,000 per month. We also booked a shop having a resale value of ₹1 crore. I have ₹1.6 crore in mutual funds and ₹65 lakh in shares.
I have a wife and a daughter. I want all my assets to be given to my wife and thereafter to a trust that should decide on monthly distribution of income from the assets to my daughter and grandson. Thereby, I want to ensure that the assets generate wealth without being misused by anyone. Please guide me on how I should go about setting up a trust.
—Name withheld on requestContinue Reading Should I write a will or form a trust to distribute my assets?