How to make a will in India , especially when one's children

PP (Querist) 23 October 2009 This query is : Resolved

SUB : How to make a will in India , especially when one's children are living abroad as NRI / citizens ?

Dear Sir ,
How to make a will document in India , especially when one's children are living abroad as overseas citizens ? In the present case , regarding making a will , division/distribution of property is not important but the transfer of property ( movable & immovable ) is important as the beneficiaries have become citizens of other countries . Can they get the assets transferred in their respective names in India , sell and then transfer the proceeds to their country of residence legally ? What will be the procedure , considering minimum payment of taxes , if any in India ? Thanks in anticipation .

PP

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Raj Kumar Makkad (Expert) 23 October 2009
I have replied the quarry very wekk elsewhere.

Sachin Bhatia (Expert) 23 October 2009
Repeated

Sachin Bhatia (Expert) 23 October 2009
Your children are living abroad as NRI are entitled to apply & get either Person of Indian Origin (PIO) card or the Overseas Citizen of India (OCI) card.
Under these schemes your children get reasonable benefits out of which they can own or buy immovable property in their name in India.

Guest (Expert) 26 November 2009
NANDKUMAR B.SAWANT.M.COM.LL.B.(MUMBAI),ADVOCATE
MOBILE.09325226691, 09271971251

e.mail.adv.nbsawant@yahoo.co.in
e.mail.nandkumarbs@sify.com

REGARDING THE WILL KINDLY NOTE THAT.

1.YOU MAY PREPARE A WILL AND MENTION THE BENEFICIARY AS YOUR SUCCESSOR TO THE SAID PROPERTY.
2.A WILL NEED NOT BE REGISTERED AND NO STAM IS REQUIRED FOR THE SAME.
3.A WILL IS A LEGAL DOCUMENT AND YOU CAN EXPRESS YOUR DESIRE AND NOMINATE ANY PERSON AS YOUR SUCCESSOR TO THE PROPERTY MENTIONED IN YOUR WILL.
4. YOU MAY PREPARE A WILL A WRITTEN DOCUMENT AND SIGN THE SAME IN PRESENCE OF TWO WITNESSES AND PREFERABLY ONE DOCTOR WHO CAN CERTIFY ABOUT YOUR GOOD HELTH AND CONSCIOUSNESS WHILE MAKING WILL.
5.IT IS ADVISIBLE TO GET IT PREPARED THROUGH EXPERT LAWYER AND MENTION ALL YOUR PROPERTY WITH CITY SURVEY NOS.AND EXACT LOCATIONS .AND ALSO CLEARLY MENTION THE NAME OF BENEFICIARY WHO CAN BE ANY PERSON INCLUDING YOUR SON,DAUGHTER OR ANY ONE ELSE.YOU CLEARLY MENTION HIS NAME AND ADDRESS.
6.YOU NEED NOT PAY ANY STAMP DUTY FOR REGISTRATION OF WILL AS IT IS NOT MANDATORY.
7 YOU MAY GET IT NOTORISED .THAT GOOD PROOF OF YOUR WILL AND WILL ALSO COST YOU LESS.

IN CASE YOU NEED ANY FURTHER HELP ,KINDLY SEND EXACT DETAILS OR CALL.WILL DEFINETELY HELP YOU
WITH BEST REGARDS TO YOU YOUR FAMILY AND FRIENDS .MAY GOD BLESS YOU

THANKING YOU

YOURS SINCERELY

NANDKUMAR B.SAWANT.M.COM.LL.B.(MUMBAI),ADVOCATE