Hi,
I am a financial planner. I wish to seek some advice for my clients who are senior citizens. They are originally Malayalee Catholics from Kottayam ( Kerala) who have settled in Delhi for over 40 years. They have only one female child who is married. They both desire that their assets go to this daughter and have requested me to help them make a suitable will. Can you please provide a format for a will for such a person?
Also, I wish to clarify the following-
1. Would the THE INDIAN SUCCESSION ACT, 1925 be applicable in their case?
2. Am I correct in understanding that the Travancore Cochin Succession Act is NOT applicable in this case or is it applicable if the couple do NOT make a will.
3. If they die BEFORE making a will, can their other relatives (siblings/nephews) claim a stake in their assets as they do NOT have a son and as the daughter was married off with a streedhan of approx 1lakh rupees + about 15 tolas of gold?
Please note the following –
- · 99% of their assets are SELF acquired as both the husband and wife are retired government employees.
- · The gentleman MAY get about 2 lakhs by way of a settlement of his ancestral property which was inherited by his father from his ancestors. I say MAY because he is yet to get it from his nephews who are not keen on giving it to him.
- · The lady (along with her sisters) got some very petty amount after the demise of her mother several years ago.
So i am keen to ensure that in such a situation, can their siblings or nephews claim a legal stake in their property (with or without their will).
