Serious and important topic but real funny situations arise when there is a Will or no Will.
One can find lot of non-cooperation among the heirs for reasons of their own or egos. Alternayely, decades- long-lost heirs turn up at the doorstep to claim their share of inheritance. A friend of mine goes further and says even buried corpses stand up to claim their share.
Heard of a case where disentitled and ousted legal heirs are left dumbstruck as they expected to inherit anyway just because they happened to be heirs. Then begins the planning to find ways and means to negotiate with beneficiary/beneficiaries or face the challenge!
Will or no Will, complications are bound to arise. However, a properly executed Will with reasons specified by testator to oust certain or all all heirs is vital and will surely make it difficult to be challenged.
I know a case where equal 6 shares of a tiny apt bequeathed to 6 legal heirs by a loving mother, 4 yrs on and the heirs continue to not co-operate due to reasons of ego and mistrust inspite of 2 heirs passing away in the interim period and several more heirs coming in. Even one heir is enough to make life difficult.
Will six keys and 6 locks solve the problem?
Instances of property fights are endless. Last wishes of the testator take the backseat!
Sorry the comment is so long but then the article started it.
Thanks for such inspirational topics entwined with your humour as usual.
Indeed informative and brings out the need why a person should make a will. Making a will does not mean death is imminent. Secondly, a will made is revocable always by the person making the will (testator). Good advice, Pras.
An interesting read, Prasanna. I didn't know about the earlier Estate Tax of 85%, which might have left inheritors feeling it was not worth inheriting anything. And thank you for helping me make a will. We Indians talk about death but generally don't make a will.
Estate Duty Act was brought by TTK to tax the estate of his rival Sivaramakrishnan of Simsons, as was the general perception in those days.
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Another quote is "If there is a will I want to be in it"
Serious and important topic but real funny situations arise when there is a Will or no Will.
One can find lot of non-cooperation among the heirs for reasons of their own or egos. Alternayely, decades- long-lost heirs turn up at the doorstep to claim their share of inheritance. A friend of mine goes further and says even buried corpses stand up to claim their share.
Heard of a case where disentitled and ousted legal heirs are left dumbstruck as they expected to inherit anyway just because they happened to be heirs. Then begins the planning to find ways and means to negotiate with beneficiary/beneficiaries or face the challenge!
Will or no Will, complications are bound to arise. However, a properly executed Will with reasons specified by testator to oust certain or all all heirs is vital and will surely make it difficult to be challenged.
I know a case where equal 6 shares of a tiny apt bequeathed to 6 legal heirs by a loving mother, 4 yrs on and the heirs continue to not co-operate due to reasons of ego and mistrust inspite of 2 heirs passing away in the interim period and several more heirs coming in. Even one heir is enough to make life difficult.
Will six keys and 6 locks solve the problem?
Instances of property fights are endless. Last wishes of the testator take the backseat!
Sorry the comment is so long but then the article started it.
Thanks for such inspirational topics entwined with your humour as usual.
Excellent observations and thanks for sharing your perspectives and some real-life instances.
Good will ensures no ill will! Thanks for driving the point home Pras.
Cryptic yet a powerful comment.
Indeed informative and brings out the need why a person should make a will. Making a will does not mean death is imminent. Secondly, a will made is revocable always by the person making the will (testator). Good advice, Pras.
Thank you Atul
An interesting read, Prasanna. I didn't know about the earlier Estate Tax of 85%, which might have left inheritors feeling it was not worth inheriting anything. And thank you for helping me make a will. We Indians talk about death but generally don't make a will.
Thank you Lakshmi.