Given the plethora of legal options available today, the absence of a Will is not an impediment to succession.
After retirement, Kumar, a financial consultant, and his wife, a school principal, pooled in most of their resources to invest in a small farmhouse. They invested the remaining amount as fixed deposits, shares, debentures, etc, in Kumar’s name. It seemed as if they had tied all loose ends, when a fatal heart attack claimed Kumar. While coping with unforeseen loss was harrowing, what was even more traumatic for Kumar’s wife was handling complex financial issues, as he had not left behind a Will.
Such situations are not very uncommon. A person dying without leaving a Will is described in law as ‘dying intestate’.
Intestate succession laws provide for the distribution of property when a person dies without leaving a valid Will, wherein the spouse and other legal heirs will receive shares in the estate according to the laws of descent, distribution and marital rights. In India, Hindus, Sikhs and Jains are covered under the Hindu Succession Act, 1956 and Indian Succession Act, 1925. While Muslims are governed by Muslim Law, Christians, Parsis and Jews are governed by the Indian Succession Act, 1925. The law provides for various ways to prove the legal heirs of the deceased and ensures successful distribution of property.
Legal Heir Certificate
Diese Geschichte stammt aus der November 2016-Ausgabe von Harmony - Celebrate Age.
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Diese Geschichte stammt aus der November 2016-Ausgabe von Harmony - Celebrate Age.
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