TAX PLANNING VIA WILL
Plan tax-friendly distribution of properties to reap valuable tax savings for your family!
Through execution of a Will, a person can ensure that useful tax planning benefits are availed of by his legal heirs after his death. It is common to see a testator wishing to distribute his properties amongst close members of his family.
When a father executes a Will, he may want to distribute his properties amongst his children. At such a time, the father should also keep in mind their taxable income and wealth. If the children have taxable income or wealth attracting tax at a high bracket, distribution of assets to them would further increase their income-tax and wealth-tax liabilities.
In such a case, if the father distributes such properties under the Will to his daughter in laws, sons’ HUFs or grandchildren, whose taxable income and wealth are either below taxable or in a comparatively low tax bracket, this would be extremely useful from the point of view of tax planning. (more…)
YOUR WILL IS SIMPLE, BUT SO IMPORTANT!
Execution of Your Will should figure
on the top of Your New Year Resolutions!
The importance of executing a Will has yet not been appreciated to its fullest extent in the Indian society. It is, therefore, not surprising to come across several cases where in pursuance to the death of an individual, there are several family disputes and practical problems in the absence of the Will by the deceased. The execution of a Will is very simple and at the same time non-execution of the same can create several difficulties. (more…)
Ensure Smooth Passing Over of Your Immovable Properties
Keep A Joint Holder Or Make A Nomination
And Direct A Clear Bequest Under Your Will!
Model Draft of a Simple Will
MODEL DRAFT OF SIMPLE WILL
LAST WILL AND TESTAMENT OF ________________________
I, _____________________, aged about ___ years, resident of __________ _______________________________________________________________ do hereby declare that this is my Last Will and Testament.
Tax Planning via Will
Your Will Can Be Strategically Designed To
Reap Valuable Tax Savings For Your Family
How Important is Your Will?
Remember That Executing Your Will Is Very Simple
But Its Absence Can Create A Host Of Difficulties!
