Will or revocable trust
Ashwin Mehta
(Querist) 25 February 2018
This query is : Open
I recently read an article where in it has been suggested to go for 'REVOCABLE TRUST" instead of usual "WILL" for transferring immovable assets to your own children.This type of Trust is considered as an alternate to WILL.These are formulated to avoid "PROBATE" as many a times to obtain a probate from competent court of that jurisdiction is cumbersome, mainly because the "Fees charged by certain advocates gets Proportional to the value of the assets". I overheard that in city like Mumbai and Delhi it goes upto 10% of the Market Value of the Property .!!!!!!!!!! Is this true ?? Please advise.
