What Is Estate Planning?
Estate planning is the process of determining how the wealth of an individual is to be preserved, managed, and distributed among the beneficiaries; after the death of an individual.
Making a WILL for NRIs having assets in India is of paramount importance as there have been lots of instances where various assets of the NRIs lie unclaimed and unattended due to a lack of knowledge about their presence or ownership to the legal heirs of the NRIs. A WILL shall have a detailed mention of all the assets owned by the individual and it shall be very useful to track and claim the assets.
What Is The Need For Will In Estate Planning?
It is important to note that Estate Planning is no longer just for the retirees or the wealthy elites; as it is impossible to predict how long will we live, as uncertainties are part of life and any illness or accident could happen to people of all ages. Estate Planning is therefore essential in creating a well-laid-out plan for the distribution of the individual’s assets in an event of his death.
Writing a WILL is the most important part of Estate planning. A WILL is a legal document created for the sole purpose of how the individual’s assets should be handled and bequeathed after the death of the person who has prepared the WILL. The WILL contains the last wishes of an individual; along with the instructions for the Executor and the Beneficiaries for how should the wishes to be fulfilled after the demise of the person who has prepared the WILL. A properly written Will would ensure that there are no family disputes regarding the assets and would also ensure that all the dependents of the deceased are taken care of in his absence.
Why Ashutosh NRI Services For Estate Planning?
We at Ashutosh NRI Services have been advising NRIs for more than 60+ years on matters relating to Estate Planning. Our qualified and expert team will discuss with you in detail various matters that will enable us to make your Will in the way it is intended to be. Our team will ensure that your Will is made according to all the rules under the Indian Succession Act. We follow a process driven approach to ensure that the Will is made efficiently and in the right manner.
The first and foremost step is to have a detailed discussion with you regarding your wishes for your Will. We will collect information about all your assets and how you wish to distribute those assets after your death.
Based on our discussion and the details collected, we shall start to draft a WILL. At the time of drafting a WILL, we shall consider the following points: Your medical condition at the time of preparation of the WILL, Provision for executors/witnesses, Details of all the assets. The draft will be prepared keeping in mind all the rules laid out for WILL Making as per the Indian Succession Act.
Once we have completed making a draft of your proposed will, we will send the draft to you for your reading. Any changes if possible will be made right away. There can be some changes that cannot be made for which appropriate legal reasons would be given.
Once we have received your final go-ahead, we will begin the process of getting the will signed, stamped & notarized. All the necessary rules would be followed to ensure that your Will becomes a legally binding document.
Our Aim :
Our aim is to become your one-stop solution for all your financial needs. Through our expert and qualified team, we try to give you the best advice regarding your investments & taxation. We also keep ourselves updated with all the activities happening in the world of finance. We aim to provide you with Quality & Unbiased consulting to secure your goals and future needs. We at Ashutosh Financial Services, are committed to continuously providing financial services to our investors to the best of our ability.