Hindu Succession Act 1956

Subscribe to Hindu Succession Act 1956
Siblings get estate in intestacy if parents pre-decease owner
Source: Livemint.com

The Private Client team at Cyril Amarchand Mangaldas shares their comments and opinions in an article in the  following Q&A which was published by the Mint Newspaper on 04th August, 2021 and the online edition of the same can be found here.

My elder brother and his wife died recently. They don’t have any children and have not left behind a Will. We were three brothers of whom now I am the sole survivor. We also have two sisters who are married. Now, who will be the successor to my late brother’s property, including movable and immovable assets?

—Name withheld on request

…
Continue Reading Siblings get estate in intestacy if parents pre-decease owner

In your Will, add a guardian for minor children
Image Source: Livemint.com

The Private Client team at Cyril Amarchand Mangaldas shares their comments and opinions in the  following article which was published by Livemint and the online edition of the same can be found here.

A disturbing trend from the second wave of covid is the increasing number of orphaned and vulnerable minor children across India. While some minors have lost both their parents, others are in a situation where their surviving parent is unable to take care of oneself or the family. Families are often confused and scared about what to do in such scenarios. Parents admitted to certain hospitals are being made to sign declarations about their children’s ‘custody’ if they do not survive.

…
Continue Reading In your Will, add a guardian for minor children

If your aunt wants to bequeath her house to your mother, she will have to execute a will

The Private Client team at Cyril Amarchand Mangaldas shares their comments and opinions shared in an article in the  following Q&A which was published by the Mint Newspaper on 18th February, 2021 and the online edition of the same can be found here.

My 70-year-old maternal aunt is unmarried and has a house in which she, my mother, younger brother and I have been staying together since 2002. The aunt is my maternal grandfather’s sister’s daughter. My mother has an elder brother too. My aunt inherited the house from her mother. What will be the status of the house when she passes away? Will my mother still have the right to stay in it? My mother and aunt have an “either survivor bank account” and locker, in which they keep their money and valuables. What will happen to that account in case of my aunt’s death?

—Name withheld on request

…
Continue Reading If your aunt wants to bequeath her house to your mother, she will have to execute a will

A daughter has an equal right to that of a son on ancestral property
Photo: iStock

The Private Client team at Cyril Amarchand Mangaldas shares their comments and opinions shared in an article in the  following Q&A which was published by the Mint Newspaper on 1st September, 2020 and the online edition of the same can be found here.

My husband has one brother and one sister. Due to some family issues between my mother-in-law and me, we are not in contact since 2013. In 2017, we came to know that my father-in-law has given all his retirement money to my brother-in-law to purchase a flat worth ₹24 lakh. My in-laws stayed in their ancestor property. Can we get a share in this ancestral property?

—Name withheld on request…
Continue Reading A daughter has an equal right to that of a son on ancestral property

Class I heirs of a woman dying intestate are her husband and children
Photo: iStock

The Private Client team at Cyril Amarchand Mangaldas shares their comments and opinions shared in an article in the  following Q&A which was published by the Mint Newspaper on 18th August, 2020 and the online edition of the same can be found here.

My father-in-law had a flat. After his death, the house was transferred in my mother-in-law’s name. He didn’t leave any will. After my mother-in-law dies, will the house be divided and given to their three children or can she give it to any one of them?

—Name withheld on request

…
Continue Reading Class I heirs of a woman dying intestate are her husband and children

Wife can manage late husband’s HUF if all coparceners are minors
Photo: istock

The Private Client team at Cyril Amarchand Mangaldas shares their comments and opinions shared in an article in the  following Q&A which was published by the Mint Newspaper on 22nd July, 2020 and the online edition of the same can be found here.

My late husband had mutual fund investments under Hindu Undivided Family (HUF). I have a son and daughter, who are minors. While some mutual funds have agreed that I can be the karta and are willing to let me liquidate investments, but two are saying I can’t be a karta. Can you explain?

—Swati Kesarkar

…
Continue Reading Wife can manage late husband’s HUF if all coparceners are minors

‘In terrorem clause’ is used to reduce chances of challenge to a Will
Photo: istock

The Private Client team at Cyril Amarchand Mangaldas shares their comments and opinions shared in an article in the  following Q&A which was published by the Mint Newspaper on 7th July, 2020 and the online edition of the same can be found here.

I live in the US. I have made a Trust deed before a notary in Texas, with my children as beneficiaries. The deed has a foregoing clause, which says claims filed by my heirs challenging the conveyance of my assets to my children will result in the forfeiting of the rights of the claimants if they fail to prove that the conveyance transactions were effected on the legal grounds of fraud, coercion etc. Is the foregoing clause valid in India?

—KB

…
Continue Reading ‘In terrorem clause’ is used to reduce chances of challenge to a Will

Covid -19 and succession planning

 Lawyers are generally very conservative – so it may sound a bit alarmist to hear us say “the world is ending!” At the time of writing, India is coming to grips with the terrifying ‘Severe Acute Respiratory Syndrome Coronavirus-2 (“COVID-19”)’ virus. There is something primal and scary about an airborne threat that can kill you – from something as simple as coming close to an infected person, or touching a door handle, etc. It makes us think about the fragility of life, and the need to protect our loved ones. Some people may believe the steps being taken at present are an overreaction – but are they?

As per the WHO, COVID-19 appears to target the elderly and individuals having underlying illnesses. The WHO mission to China found that 78% of the cases reported as of February 20, 2020 were in individuals between ages 30 and 69. In a matter of barely three months, COVID-19 has infected over 185,000 individuals, resulting in nearly 7,200 deaths, covering 157 countries and territories around the world. The Diamond Princess cruise ship harbored in Yokohama, Japan— was among the lone case involving an international vessel. In India, at the time of writing, 110+ individuals tested positive for the virus, with three fatalities. The virus knows no boundaries, gender or net worth, targeting poor and rich alike. Pandemics are an equalizer in society.

…
Continue Reading Estate & Succession Planning during the Coronavirus Pandemic

Wedding Succession Planning - Inheritance rights of Hindus

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