Will or testament is a legal document by which a person, the testator, expresses his wishes as to how his property(ies) is to be distributed at death, and names one or more persons, the executor, to manage the estate until its final distribution.
Law of WILL is very important to understand so that beneficiary does not face legal complication.
the present power point presentation deals with the subject transfer of property act section 41 which talks about ostensible ownership. The ppt will be very helpful in understanding the topic and covers the relevant case laws for the same in a summarized way in 8 slides.
Maintenance is known as Nafaqa and included Food, Cloth and Residence and it have been pointed out that it should include expenditure education of children.
Primary obligation of maintenance arises out of marriage- wife and children
Muslim man is bound to maintain his wife as long as she is faithful to him and obeys his reasonable orders.
No maintenance in irregular marriages and after divorce but in context of divorce SC have laid down decisions.
the present power point presentation deals with the subject transfer of property act section 41 which talks about ostensible ownership. The ppt will be very helpful in understanding the topic and covers the relevant case laws for the same in a summarized way in 8 slides.
Maintenance is known as Nafaqa and included Food, Cloth and Residence and it have been pointed out that it should include expenditure education of children.
Primary obligation of maintenance arises out of marriage- wife and children
Muslim man is bound to maintain his wife as long as she is faithful to him and obeys his reasonable orders.
No maintenance in irregular marriages and after divorce but in context of divorce SC have laid down decisions.
Know the difference between Judgement and decree as per CPC.
Helpful for students and law professionals.
You can also visit my YouTube channel: CS Bhuwan Taragi –The law talks
You can connect me on:
Telegram: https://t.me/TheLawTalks
Facebook Page: The Law Talks
LinkedIn: https://www.linkedin.com/in/csBhuwanTaragi
Instagram: the_law_talks
Podcast: https://anchor.fm/thelawtalks
You can watch these Company law topics as well:
Audit committee: https://youtu.be/3oRgCc5uZ-4
Related party transaction: https://youtu.be/p7pf8iW-gTk
Sweat equity shares: https://youtu.be/7vY59DdlPrE
Types of Directors: https://youtu.be/COWYEcZ-0Qo
Loan to Directors: https://youtu.be/oAcOSQJwNgY
Holding and subsidiary definition: https://youtu.be/_ttqn39IjNE
Director Identification no. : https://youtu.be/AGty3SqbOMM
Difference between MOA & AOA: https://youtu.be/TmnRc2TRxTw
Annual General Meeting: https://youtu.be/0Jxtegi2IGg
Requirement of MGT-14: https://youtu.be/6kYdXpbDABM
#CPC #llb #lawclass #reference #review #revision #civilprocedurecode #section113 #lawtopic #legalupdate #lawcollage #rajasthanuniversity #ccs #mdu #du #lawfaculty #clatexams #lawentenrance #legalknowledge #legal #lawupdate #llbexams #ll.bexams #lawexamination #llb3year #lawrevision #short #advocate #lawyer #lawpractise #courtprocedure #ICSI #CS #CA #ICAI #ICWAI #CMA #LAW #Companysecretary
The TN Land Reforms (Fixation of Ceiling on land) Act, 1961.pptxRoshiniSundarrasu
The Slide Share is about, The Tamil Nadu Land Reforms (Fixation of ceiling on land) Act, 1961 which will help the Tamil Nadu based Law students to learn Land Laws more efficiently with respect to exam point of view.
jurisprudence topic possession detailed ppt which help to learn this topic easily by a minimum time by any person who study law. person easily download this ppt to read and to teach also.
The TPA Act has not defined this term. It only says that, “immovable property” does not includes standing timber, growing crops or grass.
However section 3(25) of the general clause act, 1897 defines the term “immovable property” as-
immovable property shall include land, benefit to arise out of land, and things attached to land or permanently fastened to anything attached to the Earth.
Global role of ca in the whole gamut of succession and transfer of asset incl...CA. (Dr.) Rajkumar Adukia
The article gives insight about will document and execution of same. The author believes that the chartered accountant in the capacity of an executor can better assist with the process of working through the planning of the estate along with administration from an accounting and taxation perspective once the estate commences.
Being appointed as, and accepting the role of an executor typically comes with many responsibilities, however a chartered accountant with their expert knowledge in finance are able to ace the role as an executor of the estate distribution made in the form of will by the testator
Know the difference between Judgement and decree as per CPC.
Helpful for students and law professionals.
You can also visit my YouTube channel: CS Bhuwan Taragi –The law talks
You can connect me on:
Telegram: https://t.me/TheLawTalks
Facebook Page: The Law Talks
LinkedIn: https://www.linkedin.com/in/csBhuwanTaragi
Instagram: the_law_talks
Podcast: https://anchor.fm/thelawtalks
You can watch these Company law topics as well:
Audit committee: https://youtu.be/3oRgCc5uZ-4
Related party transaction: https://youtu.be/p7pf8iW-gTk
Sweat equity shares: https://youtu.be/7vY59DdlPrE
Types of Directors: https://youtu.be/COWYEcZ-0Qo
Loan to Directors: https://youtu.be/oAcOSQJwNgY
Holding and subsidiary definition: https://youtu.be/_ttqn39IjNE
Director Identification no. : https://youtu.be/AGty3SqbOMM
Difference between MOA & AOA: https://youtu.be/TmnRc2TRxTw
Annual General Meeting: https://youtu.be/0Jxtegi2IGg
Requirement of MGT-14: https://youtu.be/6kYdXpbDABM
#CPC #llb #lawclass #reference #review #revision #civilprocedurecode #section113 #lawtopic #legalupdate #lawcollage #rajasthanuniversity #ccs #mdu #du #lawfaculty #clatexams #lawentenrance #legalknowledge #legal #lawupdate #llbexams #ll.bexams #lawexamination #llb3year #lawrevision #short #advocate #lawyer #lawpractise #courtprocedure #ICSI #CS #CA #ICAI #ICWAI #CMA #LAW #Companysecretary
The TN Land Reforms (Fixation of Ceiling on land) Act, 1961.pptxRoshiniSundarrasu
The Slide Share is about, The Tamil Nadu Land Reforms (Fixation of ceiling on land) Act, 1961 which will help the Tamil Nadu based Law students to learn Land Laws more efficiently with respect to exam point of view.
jurisprudence topic possession detailed ppt which help to learn this topic easily by a minimum time by any person who study law. person easily download this ppt to read and to teach also.
The TPA Act has not defined this term. It only says that, “immovable property” does not includes standing timber, growing crops or grass.
However section 3(25) of the general clause act, 1897 defines the term “immovable property” as-
immovable property shall include land, benefit to arise out of land, and things attached to land or permanently fastened to anything attached to the Earth.
Global role of ca in the whole gamut of succession and transfer of asset incl...CA. (Dr.) Rajkumar Adukia
The article gives insight about will document and execution of same. The author believes that the chartered accountant in the capacity of an executor can better assist with the process of working through the planning of the estate along with administration from an accounting and taxation perspective once the estate commences.
Being appointed as, and accepting the role of an executor typically comes with many responsibilities, however a chartered accountant with their expert knowledge in finance are able to ace the role as an executor of the estate distribution made in the form of will by the testator
This Guide is intended to help every Hindu whether living in India or outside India to prepare a Will. While the primary focus is on Indian law, it also takes into account essentials of international private law. Written in simple language free of legalese, it gives an overview of Wills for an educated Hindu without any legal knowledge.
A chapter gives legal aspects of executing Advance Medical Directives (Living Will) as per March 2018 judgment of Supreme Court of India. A Sample of Advance Medical Directives is also included.
The contract specifies who should inherit your properties in the event of your death. A will is a written document that expresses the wishes of a deceased person, including appointing guardians for minor children and bequeathing objects and cash properties to families, and charities. Only after one's death does a will become alive.
In this presentation, I discuss the concept of wills, types, and capacity to make wills. I conclude on the formalities of writing a will and how to alter a will. I make references to the Wills Act 1971, Act 360
Creating a life worth living and a Legacy worth Leaving
Estate planning is not only about the money, wealth distribution, but it is also much more than that. It is more important how the intellectual, spiritual and human asset accumulated to be passed on. It is how you want your legacy to be. Will is the documents capturing your wise legal and financial decisions which provides direction as to how you wish your assets to be distributed upon your death.
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Appointment of Liquidator: A qualified professional is appointed to oversee the winding-up process. They are responsible for selling assets, paying off debts, and distributing any remaining funds.
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Distribution to Shareholders: If there are any remaining funds after all debts are settled, they are distributed to shareholders according to their ownership stake.
Dissolution: Once all claims are settled and distributions made, the company is officially dissolved and removed from the business register.
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Employees: Employees will likely lose their jobs during the winding-up process.
Creditors: Creditors may not recover their debts in full, especially if the company is insolvent.
Shareholders: Shareholders may not receive any payout if the company's debts exceed its assets.
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2. WHAT IS WILL?
Will or testament is a legal document by which a person, the
testator, expresses his wishes as to how his property(ies) is to be
distributed at death, and names one or more persons, the
executor, to manage the estate until its final distribution.
Will mainly aims at:
Wishes of the testator
Disposition of property
Primary characteristics of Will:
Takes effect after the death of testator
Revocable during the lifetime of testator
3. LAWS IN INDIA
A will made by a Hindu, Buddhist, Sikh or Jain is governed by the
provisions of the Indian Succession Act, 1925.
However Mohammedan are not governed by the Indian
Succession Act, 1925 and they can dispose their property
according to Muslim Law.
Statues:
Indian Succession Act, 1925
Hindu Law (Hindus Personal Law)
Muslim Law (Muslims Personal Law)
Indian Registration Act, 1908
4. ADVANTAGES OF WILL
Avoidance of any family dispute by clear disposition of property
Fraudulent persons can be excluded
Help reduce the amount of Inheritance Tax
Special responsibilities can be catered towards any needy family
member
Special provision can be made for any non family member
Laws of inheritance and succession are complicated
5. KINDS OF WILLS
Privileged Wills
Persons who can make a privileged Will are the following:
(a) Soldier / airman employed in an expedition or engaged in actual warfare;
and
(b) mariner at sea.
Privileged Will is a special Will made in extraordinary circumstances
like war or dangerous expedition.
Unprivileged Wills
Every person who is not entitled to make a privileged Will can only
make an unprivileged Will.
6. WHO CAN MAKE A WILL?
Every person who is of sound mind and major
Person who is willing to write a Will without any influence,
coercion or pressure.
Persons who are deaf or dumb or blind, if they are able to know
what they do by it..
A person who is ordinarily insane may make a Will during an
interval in which he is of sound mind.
Prisoners and Aliens
7. WHO CANNOT MAKE A WILL?
Corporate bodies
Person who is intoxicated or ill to a level that he cannot understand
the terms of Will
Minor
8. FOR WHOM THE WILL CAN BE MADE?
Any person capable of holding property can be a beneficiary/legatee
under a Will
Like a minor, lunatic, a corporation and other juristic person can be
a legatee.
Sections 112 to 117 of ‘Indian Succession Act, 1925’ put some
restrictions on the disposition of property by Will in certain case
If the minor person has been named as legatee by a testator then a
guardian should be appointed by the testator himself to manage
the bequeathed property.
Where there is no beneficiary of Will in existence at the time of
testator's death.
9. WHAT PROPERTIES COVERED
BY WILLS?
Any movable or immovable property can be disposed off by a will by
its owner, that property must be a self acquired property of that
person and it should not be an ancestral property of the testator.
If the testator has acquired his share in the ancestral property, then
he can make a Will for his share.
Indian laws do not recognize spousal rights on property. So, a
husband has no right to make a Will about the property of his wife
and vice versa.
10. KEY INGREDIENTS OF A WILL
Testator Details
Declaration In The Beginning
Details of Property and Documents
Details of ownership By The Testator
Beneficiary Details
Desires to be carried into effect after his / her death
Appointment of Guardian, in case of minor
Executor of the Will
Revocation of previous Will, if any
Signature and date
Numbering of paragraphs and pages
Two or more Attesting Witness
11. CODICIL TO THE WILL
Few changes in the Will
Without changing or altering the entire Will
Can be altered and revoked
12. REVOCATION OF WILL
Will can be revoked, during the lifetime of testator when he is
competent, in following manner:
By execution of subsequent/new Will
By writing and declaring an intention to revoke previous Will
By registration of new Will
By destruction of old Will
In case of marriage of a Parsi or Christian testator, his/her Will
stands revoked (however, this does not apply to Hindus, Sikhs,
Jains and Buddhists)
13. REGISTRATION OF WILL
As per Registration Act, 1908, Registration of Will is not compulsory,
its optional.
In case of a registered Will, all subsequent alterations or
modifications (Codicils) should also be registered.
Advantages of Registration of Will:
Security of Will is enhanced as it is inaccessible to the general public
If registered and not contested, then Probate need not be obtained.
No time limit for registration
Strong legal evidence about the execution of Will
Reduces chances of any challenge against the execution of Will
14. PLACE OF MAKING THE WILL
Indian courts give importance to the intentions of the testator.
A Hindu living in any part of the world but having Indian domicile
may execute a Will at any place in the world under the laws of India
for bequeathing his / her immovable properties in India and
movable properties in every part of the globe.
It may also be pointed out that the witnesses attesting a Will under
Indian laws need not be Indian citizens or Indian residents.
15. PROBATE OF A WILL
It is the copy of the will which is given to the executor together with a
certificate granted under the seal of the court and signed, by one of
the registrars, certifying that the will has been proved.
The application for probate shall be made by petition along with copy
of last Will and testament of the deceased to the court of competent
jurisdiction.
The copy of the will and grant of administration of the testator’s
estate together, form the probate.
The probate court (whether it is the District Court or High Court) has
been granted and conferred with exclusive jurisdiction to grant
probate of a Will of the deceased.
16. WHERE PROBATE IS COMPULSORY?
Wills that are made in the areas of West Bengal, Bihar, Orissa,
Assam and within the local limits of the ordinary original civil
jurisdiction of the High Courts of Madras and Bombay.
Wills that are made outside these territories but where the
property is situated in these territories also require a probate.
The Indian Succession Act also mentions that a probate is only
required for Wills made by Hindu Buddhist, Sikh or Jains. Thus,
no probate is required for Wills made by Muslims.
17. WILL UNDER MUSLIM LAW
A Will under Mohammedan Law is called as Wasiyat, which means a
moral exhortation or a declaration in compliance with moral duty of
every Muslim to make arrangements for the distribution of his estate
or property.
Under Muslim law, the testamentary right i.e. the right to transfer the
properties through will, is restricted in two ways:
i. There is a restriction upon the quantity of property bequeathed.
ii. In respect of the person (legatee) to whom the property is given.