LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

StockMarket Guru (StockMarket)     02 October 2012

How to make a solid will

Hello,

Sir i want to make a solid WILL and have two son,i want the wealth should be distributed equally among the son,Check the below property i possess..

Flat in mumbai present cost around 5 lakh
Bank FD in bank of india around 2 lakh and cooperative bank  around 1 lakh, duration 3 and 5 years
Village land 2.5 acre
Village Home

So how the wealth should be distributed?in percentage wise or ratio wise, what would be in the case of bank FD money?

Bank FD duration is 3 and 5 years,if the duration get lapsed whatever mention in the WILL is not valid or what?i dont want the will to be alter it must be permanent.

Sir there would be no issue when my son claiming for the money in the bank FD after the death?Bank manager will not ask for any succession,letter of administration certificate etc to claim?

Sir ji i want to make a solid will so that there would be no issue in claiming the money in the FD.

If the WILL is not registered then there would be no issue at all in the future?



Learning

 10 Replies

DAULAT DILBAUG (Problems related to money marriage matters.-dostnaye@gmail.com)     02 October 2012

You are a self declared STOCK MARKET GURU and stuck up in small problem,.

Make a private trust of the properties and make your sons beneficiaries.

But  GURUJI you should pay legal fees since it is specialiesed job.

StockMarket Guru (StockMarket)     02 October 2012

Iam not a big bull guru sir ji,i want to make the WILL myself only need the services of lawyer when they required,i think its not compulsory to get the WILL registered,it can be write in the plain paper also,no need of stamp paper..

Sir while writing a WILL,testator has to name executor,is it compulsory?or we can make one of the family member as the executor.

Sir there is huge confusion how the wealth should be distributed,in case of flat it should be distrubuted in percentage wise % or in cash wise?

Regarding bank FD?percentage wise or cash wise

 

 

 

 

 

 

StockMarket Guru (StockMarket)     02 October 2012

Please check the first message again regarding wealth distribution...

DAULAT DILBAUG (Problems related to money marriage matters.-dostnaye@gmail.com)     02 October 2012

Try to find a SUPER GURU for answers.

StockMarket Guru (StockMarket)     02 October 2012

Thanks a ton,but i would like to know one thing does there is any hefty charges,charge on the value of the property,i come to know from the lawyer that they charge 5-6% on the value of property for making a WILL.

After the death of the testator the members mention in the WILL has no issue in sharing the wealth or they have to approach the lawyer or court.

Does executor is compulsory?

 

 

 

 

 

StockMarket Guru (StockMarket)     03 October 2012

Iam from Mumbai and i come to know from the internet that probate is compulsory for immovable property located at mumbai,chennai,delhi and kolkatta.

But probate will come into the role when the WILL maker or testator expired,the executor of the WILL has to apporach the court for the probate and thereafter court will grant the executor the probate.

 

If the WILL is made without executor then we have to approach court for the letter of administration,iam not sure whether iam correct or not.

 

I would like to know one thing can i make one of the member(owner after the death of the testator) of the WILL,the executor of the WILL?is it possible..

If the immovale property is around 8 lakhs then how much i have to pay for the probate in Mumbai?

 

 

 

 

 

StockMarket Guru (StockMarket)     03 October 2012

No court fees was payable in case the Will is administered by the Woman Executor

 

IS THIS TRUE?

StockMarket Guru (StockMarket)     03 October 2012

I have 1 daughter who is married and one son,i want to make a WILL in my son name,does i have to obtain NOC from the daughter,is it compulsory?

Is it compulsory to take affidavit from other children whose name are not mention in the WILL that they know about execution of WILL in your favour and shall have no objection to the WILL, as a precaution.

 


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register