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Jayanta Bandyopadhyay   19 January 2022

Registered will in favour of minor grand children

My relative is having lic pension income, sponsored by employer plus FDs.

Due to family dispute , being widower, he is not comfortable with married son and daughters but wants to pass on property to grand children, now at 6 years old, after his death.

How he could make will, get it registered in Jharkhand. What about legal guardian, till children attain majority, in case he dies before that triggering event.

Kindly guide him.



 6 Replies

Real Soul.... (LEGAL)     19 January 2022

As simple let him  make the will stste all the facts and etail the property to be willed, make an executor and register the will. He can also appoint nominees with insurance or other financail intitutions .

He should mention in the will that amounts should be passed to the his nominated minors when they attain majority not before that

Make and nominate any trustworthy perosn  as  an executor in the will and inform him too about will .

Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 )     19 January 2022

nominee who is under the legal age that is 18 years of age is known as a minor nominee. The life insured/policyholder can choose to nominate a person who is under the age of 18.

Jayanta Bandyopadhyay   19 January 2022

Sir

 

How to deal with appointment of executor pending children reaching adulthood. When own family members are not trusted one , can bank be made the authority to hold the amount in trusteeship capacity, until they become major. Because of family dispute, independent neighbour's may not risk taking the role.

Aryan Raj   19 January 2022

In response to your query,

Indian Succession Act, 1925- “Will” means the legal declaration of the intention of a testator with respect to his property which he desires to be carried into effect after his death.

And when you are making a will on a minor's name it is necessary to appoint a guardian for the child and mention about the same in the will according to the Hindu Minority and Guardianship Act, 1956.

You should advise your friend to make at least a basic Will to cope with his estate and grandchild's guardianship. It is necessary to name a guardian for the child in this Will. Guardians take on a fiduciary role since they are in charge of a child's finances and welfare until he or she reaches the age of 18. A parent is regarded as a minor's natural protector (subject to rules under personal law). However, a guardian may be appointed by the last surviving parent's Will (testamentary guardian), or by a court order in the absence of a Will (appointed by court).

Regards,

Aryan Raj 

Jayanta Bandyopadhyay   19 January 2022

Here, parents and parental aunts family of 2 kids  are not trustworthy and dependable. Hence Grandfather is puzzled with future uncertainty. Grandmother passed away. Kids are around 4 to 7 years old.

Shashi Dhara   22 January 2022

Write gift deed to grand children.


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