TESTAMENTARY TRUST
Will vs Trust in estate planning: How conflicting documents can derail your wealth transfer and how to avoid it
The problem often is failing to update a will and a trust regularly to avoid conflicting provisions. A common situation is one where an individual executes a will and subsequently establishes a family trust, transferring some of the assets mentioned in the will to that trust, but never revisits the will.
Is Will registration mandatory? No, but two witnesses are required by law
Registration of Will is optional but at least two attesting witness in Will is mandatory; Know what the law says. This article explains it all.
Rs 10,000-crore question mark over Ratan Tata estate
A recent ruling by the charity commissioner has raised questions regarding Ratan Tata's decision to bequeath shares to two trusts. These shares were initially transferred to Naval Tata under defined family conditions. The ruling grants the Navajbai Ratan Tata Trust the power to take necessary actions, potentially addressing a breach of the original share transfer agreement. Discussions among the relevant parties may lead to a resolution of this matter.
Worried about future of your child with special needs? How making a trust can help your child when you are not around
For parents of children with special needs, a special needs trust offers a vital long-term plan for their child's care and financial security after they are gone. This trust ensures funds are managed by trustees for medical treatment, housing, education, and daily expenses, providing a structured support system beyond simple wealth transfer.
Should you go with public trust or private trust? Succession planning with trusts explained
If you are confused by personal finance terms, jargon and calculations, here’s a series to simplify and deconstruct these for you. In the 93rd part of this series, Riju Mehta explains how various types of trusts differ in their purpose and functioning.
Sir Ratan Tata Trust may get formal trust deed as Tata Trusts reviews governance structure
Tata Trusts is reviewing governance for the Sir Ratan Tata Trust. A new trust deed may be drafted. This follows discussions on trustee appointments. The Sir Ratan Tata Trust currently operates under a will. A new ordinance in Maharashtra impacts trustee tenures. This move aims for clearer governance and administration. The Sir Dorabji Tata Trust already has a formal deed.
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Probate no longer mandatory in these three metros: What repealing Section 213 means for wills and estates
By removing Section 213 and amending Section 370(1) of the Indian Succession Act, the recently passed Repealing and Amending Act, 2025 places the wills of a deceased Hindu, Jain, Sikh, Parsi, or Buddhist person in Mumbai, Kolkata and Chennai on par with those in the rest of the country.
Planning for a lifetime care: Smart estate strategies for parents of children with special needs
Parents of children with special needs must plan for their future care and finances. Trusts and wills offer a secure framework. Experts advise detailed planning for the child's needs and asset management. Appointing guardians and trustees is crucial. Proper documentation and regular updates ensure continuous support for the child's well-being.
Estate planning: What are conditional wills and why do people use them?
Conditional wills protect dependants and guide behaviour, but unclear wording increases scrutiny and disputes, making them a powerful, yet risky, estate planning tool. Learn which conditions are legally valid, when trusts work better than wills, and how to draft enforceable clauses that protect dependants without triggering disputes.
Is it better to distribute one’s assets during lifetime or after demise? Which succession tool is best suited to your needs?
Inheritance conflicts frequently occur in India as families navigate the complexities of passing on legacies. Although parents strive to create secure financial futures for their offspring, disputes over property can easily ensue. This piece delves into various asset distribution strategies like wills, gift deeds, trusts, and joint ownership arrangements.
The Inheritance of Loss: Inside the silent battles of queer heirs in India’s richest families
Wealthy Indian families are increasingly using inheritance to control their gay children, often coercing them into lavender marriages or disinheriting them. Despite legal advancements, succession laws fail to recognize queer relationships, leaving LGBT heirs vulnerable to exclusion and silenced by family pressures for image preservation.
Warren Buffett’s one must-do task for all parents before they die — here’s his advice
Warren Buffett will advice: Legendary investor Warren Buffett advises parents to let their children read their wills before signing. This transparency aims to prevent future family disputes by ensuring heirs understand the decisions and their responsibilities. Financial experts agree, emphasizing clear explanations, especially for unequal inheritances, to foster understanding and strengthen family bonds.
I have children from two marriages. How can I distribute my assets without legal disputes in future?
I have children from two marriages. I want to ensure that my assets are distributed fairly and without future legal disputes. What legal documents and steps should I put in place for a smooth succession?
Among 3 siblings, my father inherited a flat in Delhi. Being a single child, do I need a registered will for stress-free inheritance?
My father owns a flat in Delhi, inherited from my grandfather in the 1980s or 1990s. I’m his only child and he has three siblings. To inherit the flat, is a will necessary?
How to ensure that my flat is transferred to my wife and daughter after my death?
I own a flat in Mumbai. I want to ensure that in my absence it passes smoothly to my wife and daughter. I am planning to write a will for that. I want to know if gifting an equal share to both will ensure a smoother transition?
Ratan Tata put a ‘no-contest clause’ in his Will: Can this clause help prevent family disputes?
While the clause can act as a deterrent to frivolous challenging of the will, it is not legally binding and is not recognised by key succession Acts.
Sale of ancestral property: Can daughters and her descendants make rightful claims?
Our panel of experts will answer questions related to any aspect of personal finance. If you have a query, mail it to us right away.
Birla-Lodha Dispute: Calcutta HC clarifies power and scope of APL Committee
The Calcutta High Court, in the prolonged legal battle over Priyamvada Devi Birla's estate, ruled against granting full powers to the administrator pendente lite (APL) committee. The court clarified that the APL committee can only exercise powers held by Priyamvada Birla during her lifetime, focusing solely on her shares.
Billionaire Warren Buffett says he will have a ‘simple’ & public will
Warren Buffett, the world's ninth-richest person with a net worth of $120.8 billion, announced in a Thanksgiving letter that the disposition of his fortune to charitable causes after his death will be open to public scrutiny.
Warren Buffet donates Berkshire Hathaway shares to children's foundations at Thanksgiving
"My children, along with their father, have a common belief that dynastic wealth, though both legal and common in much of the world including the United States, is not desirable," Buffett said in the statement, adding that after his death, his children would act as trustees of a charitable trust that would inherit 99 per cent of his wealth.
My uncle doesn’t want to share grandfather's property. What can my mother do?
Assuming your mother is a Hindu, she has an equal right in her parents’ property as she is a class I legal heir.
Several Indian-origin persons charged in insider trading cases in US
In another action, the SEC alleges insider trading by investment banker Brijesh Goel, 37 and his friend Akshay Niranjan, 33, both of New York, who was a foreign exchange trader at a large financial institution.
Estate Planning: Your legacy is what matters the most.
To protect your legacy, you should be aware of estate planning
How to form a trust for a special needs child
Typically one or both parents of the special needs child are the settlers. They need to identify trustees who understand the child’s needs and will work in his best interests, besides being capable of managing the assets.
Estate planning via a will or a trust?
Many people who undertake estate planning go for a will, but there are other ways beyond writing a will. However, in most cases, a will leads to rivalry among beneficiaries. This can be avoided by setting up a trust.
High Court restrains Harsh Vardhan Lodha from holding office in MP Birla Group
The court also told Lodha not to draw any benefit from the assets of the MP Birla estate. The latter is expected to challenge the ruling before a divisional bench of the High Court early next week, people familiar with the development said.
Financial planning for a special child should be long term
Millions of children in India live with disabilities. Parents of children with special needs have to plan their finances carefully to secure their child’s future.
How to plan finances for a child with special needs
As Autism Day approaches, ET tells parents how to manage their finances to take care of their offspring with disability.
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