please click
https://economictimes.indiatimes.com/wealth/plan/avoid-these-8-mistakes-while-writing-a-will-to-ensure-your-assets-are-passed-onto-your-heirs/articleshow/63855623.cms
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Also , please try to get Will registered ( though not mandatory )and appoint Executor /s
All rulings are stating that ( particularly in Co-op Housing Flats etc ) that Nominee is only a Trustee on behalf of all the heirs , Further it has been ruled that Co-operative Societies cannot invent their own rules of Succession.Either the succession is Testamentary ( through Will )or Intestate ( Succession Laws ). No third option.
We went in to appeal in the High Court where our Appeal was upheld
https://economictimes.indiatimes.com/wealth/plan/avoid-these-8-mistakes-while-writing-a-will-to-ensure-your-assets-are-passed-onto-your-heirs/articleshow/63855623.cms
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While writing Will , please include these important points.
1 ) Where ever ( Testator ) made Nominations , the Nominee / s would be the sole heirs.
2 ) In case , any one of the legatees pre deceases( Testator ) in that case that share would not lapse but would , instead , devolve on the Legal heirs of that Legatee.
3 ) In case any asset , movable or immovable , is not mentioned here or is acquired afterwards would devolve on --------
Also , please try to get Will registered ( though not mandatory )and appoint Executor /s
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Must Make Will - Nominee Only Trustee in Most Cases
Nominee ( except in case of shares and most probably , now , in Insurance policies ( please recheck ) - is only a Trustee. Real owner is as per the Will.
It is very important to remember that , in case of Mutual Funds / Fixed Deposits , nominee is only a representative / Trustee on behalf of the heirs .
A Will or Natural succession in the absence of a Will would determine who would inherit the Mutual Funds.
Best is make a Will and write in it " THAT WHERE EVER I HAVE MADE NOMINATIONS OR THERE ARE JOINT HOLDERS THEN THOSE NOMINEE / S OR THE SURVIVING JOINT HOLDERS WOULD BE EXCLUSIVE BENEFICIARIES "
IN CASE THE NOMINEE PREDECEASES THE HOLDER THEN THE NOMINATION STANDS CANCELLED . IT DOES NOT PASS ON TO THE HEIRS OF THE NOMINEE.
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All rulings are stating that ( particularly in Co-op Housing Flats etc ) that Nominee is only a Trustee on behalf of all the heirs , Further it has been ruled that Co-operative Societies cannot invent their own rules of Succession.Either the succession is Testamentary ( through Will )or Intestate ( Succession Laws ). No third option.
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To the best of our knowledge ( please please Recheck ) Nominee or the surviving Joint Holders in case of Shares is
absolute owner( without reference to any Will / Natural Heirs. )'
absolute owner( without reference to any Will / Natural Heirs. )'
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In our one case , the Trial Court granted Probate on a Photostat copy of an Unregistered Will.
We went in to appeal in the High Court where our Appeal was upheld
CASE 2: ASHWANI KUMAR AGGARWAL vs. B.K. MITTAL (High Court of Delhi
Decided on July 03,2014)
ACT:INDIAN SUCCESSION ACT, 1925.
ACT:INDIAN SUCCESSION ACT, 1925.
BACKGROUND:If a Will is lost, what is the remedy available to the Heirs?
CASE BRIEF:“Section 237. Probate of copy or draft of lost Will-When a Will has been lost or mislaid post the testator’s death, or has been destroyed by wrong or accident and not by any act of the testator, and a copy or the draft of the Will has been preserved, probate may be granted of such copy or draft, limited until the original or a properly authenticated copy of it is produced.”.
for more , please click
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All Written Wills ( registered or not registered ) are , legally , categorised as UNPRIVILEGED Wills.
Privileged Wills ( even Oral ) are available only to soldiers.
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