Getty ImagesOur panel of experts will answer questions related to any aspect of personal finance. If you have a query, mail it to us right away.
These are a set of queries raised by ET Wealth readers, which have been answered by our panel of experts.
Income Tax Guide
Income Tax Slabs FY 2025-26Income Tax Calculator 2025New Income Tax Bill 2025
I’m a Hindu and need legal advice on drafting my will. I own two ancestral properties inherited from my grandmother and mother. I want my wife to be the sole and absolute owner of these after my death, with no claim from my sons or their legal heirs. I’ve received conflicting suggestions. One says a clear will is enough to exclude my sons, another recommends notarised NOCs from them, and a third suggests a relinquishment deed in favour of my wife. I need clear guidance on the most effective way to ensure my wife inherits these properties
Rajat Dutta Founder & Initiator, Inheritance Needs Services: It is assumed that since you inherited the two ancestral properties from your grandmother and mother, the ownership has been legally transferred to your name and is reflected in the official records. While a will is the most straightforward way to pass on property, it can still be challenged. Its strength lies in how clearly and legally it is drafted. A clear title in your name is essential. You should create a legally sound will in simple language, clearly stating that both properties are to be inherited solely and absolutely by your wife. It’s also important to include a fallback plan in case your wife predeceases you—specify who should inherit the properties in that scenario. To strengthen your will, register it with the sub-registrar’s office. Also ensure standard formalities— include a doctor’s certificate and have two independent witnesses (with no benefit from the will), preferably younger than you, who are likely to outlive you.
Also read | I have a brother and a sister, but no family partition deed. How will my parents’ property be divided after their death?
My will has properties and bank accounts listed, and everything is in favour of my son. It is registered. Recently, I transferred one of the properties to my son’s name and closed one of my savings bank accounts. Is the existing will still valid?
Rajat Dutta Founder & Initiator, Inheritance Needs Services: A will allows the asset owner to document his/her wish, specifying how the wealth or assets owned by the testator (the person making the will) should be distributed among the named beneficiaries after his/her death. The list of assets mentioned at the time of signing may change over time, as the owner could gift, sell, or monetise them during lifetime. Therefore, upon the owner’s demise, only the assets existing on that date will be distributed in accordance with the directions in the will. In your case, the existing will would continue to be valid and there is no need for revising it, as long as it has the residual clause, which would take care of distribution of assets on date of demise, i.e. assets/wealth acquired from date of signing the will to assets as on date of demise.
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. Email ID: etwealth@timesgroup.com
aniltikotekar4sme.com 