Fifteen years ago, senior citizens (citizens aged 60 years and above), were provided the benefit of statutory protection for certain vital rights under the Maintenance and Welfare of Parents and Senior Citizens Act, 2007 (Senior Citizens Act). These rights included the right to reclaim property gifted or transferred to children or heirs.
Continue Reading Senior Citizens: Supreme Court clarifies position on reclaiming conditional gift
A probate is a certificate granted by the court in respect of a Will, which proves the validity of the Will and grants rights to the executor to administer the estate of the deceased testator in the manner set out in the Will. Post the demise of the testator, the executors named in the Will can apply to the jurisdictional court to seek a probate to establish the authenticity of the Will.
Continue Reading Probate Requirement in Delhi & Around
Charitable organisations, irrespective of the scale of their activities, seek and accept donations in various forms. Predictably, payment and receipt of donations, susceptible as they may be to misuse, are subject to regulation in India, and there are multiple legal complexities that need to be navigated through in connection with these.
In this article, we identify some questions that donee organisations must consider when accepting charitable donations in order to suitably address various legal issues and formalities applicable.
Continue Reading Receiving charitable donations? What you should think about.
The complex nature of estate and succession planning requires careful assessment of myriad considerations, such as the nature of estate (composition and location), family type (nuclear, joint or hybrid), and potential cost outlay (taxation and stamp duty) in order to achieve the objectives in an efficient manner.
However, while determining the costs associated with planning, an oft-overlooked factor is the court fees that may be payable when the components of the succession plan are set into motion post demise. If not evaluated when devising the estate plan, court fees might come as a rude shock to heirs seeking to implement the succession plan of a deceased family member.
Continue Reading The Estate and Succession Planning Consideration That (Almost) No One Discusses
In these uncertain times of a global pandemic, there is increased interest in succession planning, including through Wills, and understandably so. Yet, there are considerable practical and legal challenges involved in making a Will during social distancing, isolation or quarantine. In this blog post, we discuss these challenges in the Indian context and suggest potential solutions. While it may not be possible to find foolproof solutions, and unfortunately technology is not yet an ally, there are some measures that may help to overcome prevalent complications in creation of Wills.
Continue Reading Wills In The Time Of Corona: Challenges And Solutions
Trusts are recognised internationally as favoured vehicles for estate and succession planning. Although most private asset-holding trusts are created during the lifetime of the creator (settlor), there is another category of trusts called testamentary trusts. As the term suggests, testamentary trusts (also known as ‘Will-trusts’ in certain jurisdictions) are formed through testamentary instruments such as a Will, and which take effect only upon the death of the creator. This post seeks to provide an overview of the Indian law on testamentary trusts, and offer insights into their creation, function and utility.
Continue Reading Testamentary Trusts – Overview And Insights
When one is about to get married, there are myriad thoughts crossing one’s mind all at once – from meticulous planning of the upcoming nuptials, to mundane but practical matters such as updating official documents, to creating social media hashtags. A wedding is after all a momentous occasion in a person’s life, and planning is key. It might be safe to say, however, that the thought of how marriage will impact one’s inheritance rights and succession planning in anticipation are usually not top of the list.
In this blog, we discuss this important but rarely discussed topic – the effect of marriage on inheritance rights and planning in anticipation of marriage. As this is a vast topic and issues vary depending on the facts of each case, we have discussed some of the key issues and limited the discussion in this post to Hindus.
Continue Reading Wedding (Succession) Planning: Analysing Impact of Marriage on Inheritance Rights of Hindus