huf assets

Querist : Anonymous (Querist) 25 January 2010 This query is : Resolved
I am born & brought up in maharashtra. I have three daughters & no son. my first daughter married in gujrat, second and third in maharashtra. after marriage of all daughters can i continue huf ? with only wife as member ? or what will be position of huf and who will be coparcenor? if i continue huf what will happen after my death. i have good amount of investments in shares/govt.securities etc. pl. guide

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A V Vishal (Expert) 25 January 2010
Only unmarried daughters can be co-parceners in a HUF. Your HUF will dissolve upon your death since there must be atleast two members to continue a HUF. Since all daughters are married and you don't have a son the HUF cannot continue. It is better to write a will to avoid legal tangles after your death.

Raj Kumar Makkad (Expert) 26 January 2010
HUF is still continuing even though your all 3 daughters have already been married but you couple are still its members.

Now after your death all 4 legal heirs of you (your wife and all 3 daughters( shall be equally entitled to inherit any property left by you in equal share and no will is required for that purpose. If you want equal share for them then leave the idea of making any will and if want any specific provision, then will can be made.

J K Agrawal (Expert) 26 January 2010
Female members are never member of HUF. It makes no difference of marriage or no marriage of daughter.

Sachin Bhatia (Expert) 26 January 2010
HUF is still continuing even though your all 3 daughters have married and after your death property left by you will be equally inherit by your wife and all 3 daughters.

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