a) If Hindu male dies, then widow, mother and children get equal share (Sec. 8 Hindu Succession Act)

b) If Hindu female dies then husband and children get equally (Sec. 15 Hindu Succession Act)

Me: To avoid dispute, write will.

Where there is a WILL,

there is a way …

Without a will to indicate your wish, the court steps in & distribute your property according to the law.

If you have no apparent heirs & die without a WILL, its even possible that the state may claim your estate.

Raj: Yes uncle. l have read about succession dispute of Birlas & Lodhas.

Can you tell me about it ?

Me: It was Priyamvada Birla case.

The facts are not yet establised.

They were childless couple.

The husband died 14 years ago.

It seems nobody from the Birla family was close to Priyamvada over last 15-20 years.

Lodha was running the show for.the last 15 years & he became the trusted man of Priyamvada Birla.

Raj: So , WILL is for the rich.

Me: Not necessary. What a will ensures is that whatever assets you have will be given to family members or other beneficiaries you designate.

Raj: o.k.. but uncle, if I am correct many die without WILL.

Me: True . 80% Indians die without WILL.

Raj: Uncle , what is INTESTATE ?

Me: INTESTATE means without making a WILL.

If you die ‘intestate’ & have no family , as told you earlier all your wealth imcluding property will go to the state. If you have heirs, then the assets are shared according to the laws applicable to intestate succession.

The Hindu succession Act 1956 covers succession for Hindus & the Indian succession Act 1925 is general law that deals with succession in India.

Raj: O.k. how does it act ?

Me: Your next of kin would have to apply to the courts for partition of your estate.

To do so, they seek professional legal advice.

This can be expensive. The cost would come from your estate so it would reduce the value of your estate.

Raj: oh ok..

Me: Not having WILL can also delay the process.

Bank accounts will be frozen.

And this may also accumulates interest on any unpaid debts you may have.

Raj: Uncle , its all confusing. Please tell me in detail about Hindu succession Act. & Indian succession Act.

Me: A WILL is like the last wishes of a man.

It supersedes inheritance laws , but for the property which is SOLELY owned by the deceased.

Raj: Oh ! What about inherited assets ?

Me: they are disposed of in accordance with the applicable succession law.

Raj: So , a WILL is a legal document that clearly states the intention of the person who owns wealth and how he wish to dispose it after his death . Right ?

Me: Right.

Raj: How does the law define the WILL.?

Me: huummm..

A WILL definded under Section 2(h) of THE “INDIAN SUCCESSION ACT, 1925” , means the legal declaration of the intention of a person with respect to his property which he desires to be carried into effect after his death.

The person making the WILL is called the TESTATOR & the person or the entities benefitting under the WILL are called BENIFICIARIES.

Raj: WOW !!