I am the Karta of the HUF. Father is no longer alive. I have one married sister and mother is still alive. I want to disolve the HUF and/or create my own HUF and transfer all the wealth from current to my HUF.
What is the simplest manner to do so and what are some of the tax implications one will have to face in this including risks etc. Partition has been suggested but tax implications seem high.
Also if the HUF continues what are the married sisters rights under this for perpetuity. Is it better to keep the current HUF going or for the sake of simplicity and to ensure no future issues is it better to dissolve it know amicably?
