Everything you need to know about writing a will
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The document provides information on writing a will. It explains that a will ensures wealth is transferred according to one's wishes to avoid family disputes. It discusses important aspects of writing a will like declaring sound mental state, listing assets, naming beneficiaries and proportions, signing and witnessing. It also notes that while not mandatory, registering the will adds legal validity. The document recommends involving experts for complex asset distributions to avoid potential legal issues with the will.
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Everything you need to know about writing a will
- 1. From Research Desk VALUE PLUS - The Family Office KNOWLEDGE PLUS For Wealth Plus+ 05th October 2013
- 2. Hot Topic Of The Week Know All About- Writing A Will Knowledge Plus for Wealth +
- 3. Last week at the Financial Markets!!! • SENSEX up by 188 points (0.96%) and closed to 19915 at end of the week. • (FIIs) remained net buyers in equity with net inflow of Rs. 384.6 crore and net seller in debt segment with net outflow of Rs. 3060.3 crore. News Impact • HSBC India Services PMI remain at 44.6 in September, lowest in over 4 years. • Being a leading indicator, it indicates that GDP growth may reduce • RBI may reduce the rate to support growth. • Due to weakness in economy rupee may depreciate. • Current account deficit will widen. • Govt to restart disinvestment programme in October’13 • Liquidity will reduce from the system • RBI may take action to release liquidity. • Banking sector will benefit from RBI action. Knowledge Plus for Wealth +
- 4. Last week at the Financial Markets!!! Price Performance of Different Asset Class Market remains choppy because of absence of US economy data. Knowledge Plus for Wealth +
- 5. Next Week in the Financial Markets...? • Index of Industrial Production (IIP) data for the month of August 2013, which is due for release on October 11. • Developments with reference to shutdown of the U.S. Government. • HSBC Manufacturing PMI to be released on October 1, 2013 followed by HSBC Services PMI on October 4, 2013 Knowledge Plus for Wealth +
- 6. Hot Topic Of The Week Know All About- Writing A Will Knowledge Plus for Wealth +
- 7. Introduction • Will is also the part of the wealth distribution stage. • But the complexity in the financial lives of the HNI’s is comparatively more, so it requires writing a will at an early stage. • If will is prepared, then it is the ultimate source of truth. • It is not necessary to have a will on a stamp paper. • Can be changed at any given point of time. New one will supersede all the previous ones. Knowledge Plus for Wealth +
- 8. Why A Will • Ensures that wealth is transferred to people you choose • Interests of the weak or of minors are provided for • Wealth is distributed without family disputes • Wealth is transferred to trusted people who will respect what you have accomplished • A will does not only distribute wealth; it can also offer responsibilities like appointing a guardian for your minor child etc. • If a person dies without a will, the law of succession applies based on the religion of the deceased. Knowledge Plus for Wealth +
- 9. How To Write A Will • Declaration that you are making this will in your full senses and free from any kind of pressure. • Details of Property and Documents • Details of ownership : At the end of the will, you should mention who should own your assets items and in what proportion, after you have gone. • Signing the Will • Witness • Appointing an Executor Knowledge Plus for Wealth +
- 10. Checkpoints • Witness should be young and not the beneficiary in any form. • Date the will. • Ensure complete safety of the will. • Write in your own handwriting & sign the Will on every page and number it so that there is no scope of addition or deletion. • Register the Will even though it is not mandatory. • In HUF you can only will assets of your share. Knowledge Plus for Wealth +
- 11. Role of Experts • “Do-it-yourself” wills often do not contain all the necessary components as required by law and many times ruled as invalid by courts. • Avoids ambiguous language that may result in lengthy legal battles . • Ensures that there are no mistakes.. • Legal validity and authenticity. • When the asset size is large and more complexity is involved, then to avoid problems you may even require forms trusts. Knowledge Plus for Wealth +
- 12. Research Desk @ VALUE PLUS - The Family Office Office: (0265 -2324600,6629800) Email: info@valueplusinv.com Website: www.valueplusinv.com Knowledge Plus for Wealth +