Comments on: Why make a will?

By: Suresh

Suresh — Sat, 04 Aug 2012 02:57:12 +0000

An eye opener for many people like me.

By: Ankur

Ankur — Wed, 01 Aug 2012 14:45:53 +0000

Subra, I am of 44 years age. I had the intention of making will since quite some time but did not do due to probably laziness (many other good things to spend time on). Your this post and couple of other articles around same time did finally push me. I registered my will today. Writing in to say thank you!!

By: Rajeev

Rajeev — Mon, 23 Jul 2012 04:43:55 +0000

It is very essential to make a will. Wife’s in India normally outlive their husbands. They get sheltered from finantial activities even if they are earning. Most transactions and activities are done by their husbands.

Best to leave all property and money to either or survivor between husband and wife with full right to do whatsoever the survivor wants. At the same time lay down a specific wish how to share the remaining property between the children after the death of both parents.

Wife should eb made aware of the total investments and made a joint owner of as many as possible.

It is not wise to keep things un clear and believe in your children’s good & supportive nature alone. Things can go wrong and do go wrong.

The last thing you need is that your end of days are spent with money wories or of your children fighting umong themselves for the scraps.

Regards

By: Banyan Financial Advisors

Banyan Financial Advisors — Fri, 20 Jul 2012 12:56:39 +0000

Hats off Subra – you have explained the importance of a will in the most simple form of language. Often people confuse Nomination with Will and in most cases, they don’t have any of the both. While a Will overrides a Nomination, the importance of Nomination should not be ignored in context of a Will. In most cases, a nominee and the beneficiary in a Will may be the same person. However, a Nomination shall ensure that the funds are transferred to the nominee without the requirement of court proceedings.

Regards
BanyanFA

By: bharat shah

bharat shah — Fri, 20 Jul 2012 07:01:09 +0000

fortunately i have habit of making wills from age of 35-37, not of mine, but spouse and other family members , as necessary, though frankly not having holding much wealth, thanks to shri a.n . shanbhag’s ‘in the wonderland of investment’. but i never get them registered, as i understand , it is not mandatory to do so.if wrong, kindly correct. moreover , i like to understand the meaning of ‘mutation’ in the following advice about its execution:

As per sec.57 of Indian Succession Act if the will is executed only at metro cities like bombay,madras and calcutta,the probate is required,otherwise probate is not required.
As rightly said will has to be probated if executed in Presidency towns, U can go for mutation basing on inheritance by will.

By: subra

subra — Fri, 20 Jul 2012 03:33:13 +0000

let me add. This is a real life story. I knew the man, know his son (he is a little younger than me) and know the kid daughter (she is about 22 years younger than me and was literally on the roads -abandoned by the brother….

God bless

By: subra

subra — Fri, 20 Jul 2012 03:30:12 +0000

such a person should sleep with the front door open, right? if a door is being shut to keep the thief out – is it not a negative thought that a thief will come? emotions cannot be conquered with reason, cannot help such emotional fools.

By: nix

nix — Fri, 20 Jul 2012 02:49:07 +0000

totally agree with you. My friend told his dad to make a will, but he is shouting at him telling you dont want me to have long life? What kind of logic is this?..He just wants to explain him making a will would ensure no confusion later on.He just doesnt understand, he feels if he makes a WILL he will die..people like him are very emotional regarding making WILL etc.