When tragedy strikes, the complexities of inheritance laws add another layer of hardship. This unexpected reality, often rooted in religious laws, underscores the importance of estate planning.
For instance, a young Muslim widow may be left with just a fraction of her husband's estate under Muslim inheritance law (Muslim Personal Law (Shariat) Application Act, 1937). Even if she had been named as the nominee of the deceased, she would receive just a quarter of her husband's wealth if she had no children—and much less if she had, with the rest going to his parents or siblings or even distant relatives.
Misconceptions
Under Muslim personal law, a widow would receive 25% of her husband's estate if they had no children, and the remainder would be distributed among his parents. If his parents have passed away, the remainder of her husband's estate would be allocated to his siblings or other relatives.
If the couple had children, the widow's share would be halved to 12.5% of her husband's estate, and the rest would be allocated to the children and her husband's parents. This reality comes as a shock as many families assume that a nominee would inherit the entire estate. In truth, inheritance laws override any nomination.
If the wife had died, her husband, under Muslim personal law, would inherit 50% of her estate if the couple didn't have children. If they had children, his share would shrink to 25%.
Impact on parents
Let's take the example of a Muslim male who is unmarried or widowed and without children. If he dies, his estate would be allotted to his parents, but his mother would receive only a one-third share. If his father had passed away, his mother would still receive only a one-third share, with the remaining two-thirds going to relatives.
Denne historien er fra November 22, 2024-utgaven av Mint Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra November 22, 2024-utgaven av Mint Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Why You Need To Sort Your Messed Up Sleep Schedule
For a healthy heart, having a fixed bed time is more crucial than the hours you sleep, claims a new study
Winter Likely To Be Mild With Fewer Cold Wave Days, Says IMD
Above-normal temperatures forecast over most of India from December to February
A little attention can build deep connections
To build a life filled with authentic relationships, be proactive, seek out like-minded people, and lend time and care to nurture your tribe
To master the deadlift, go the trap bar way
The trap bar may look clunky but it's a safe bet to practice a deadlift
Long live the revolution of life-altering AI technology
Synthetic biology could lead to several breakthroughs, including drugs that work much better on us
Mauritius is a strategic gateway for our collaboration with Africa
In Mauritius, India has a reliable and uniquely located partner that offers Indian businesses easy access to African markets
COP-29 cop-out: Clean power needs to gain further appeal
The world must help poor countries decarbonize their economies
Don't blame education gaps on policy settings
A divergence in public schooling might well have led India's economy to lag China's. But this should arguably be attributed more to complex social constraints than to any policy design
Our new political-economy consensus needs a rethink
The policies our parties agree upon are not reformist. The challenge is to chalk out an agenda that is
Honey, who shrank the chatbot? Even AI needs to count calories
Shrinkflation is old but what it's doing to artificial intelligence is new—if not all that surprising
