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Sekar (Advisor)     01 July 2014

Separation of family assets

Dear Sir,

My grandfather had two sons   1. Murugan (75) & 2. Selvan (65) and one daughter Rama (60).     We,  Arasu  (48) & Sekaran (40) are the sons of  Mr. Murugan.  We also have 2 sisters.   My uncle Selvan has two sons, named  Ravi (32) and Rajan (28).  Rama (my aunt) got married long time back, but become widow 3 years back, now living with her 2 daughters (aged 40 and 35).

My father Murugan was the eldest son of my grand father.  My father has been in the family business (shop) from his age 10.  My father worked hard day and night, looked after the entire family.  The family members are aware of it. All the lands were purchased on my grandfather name.  My uncle (Selvan) was a drunkard, was not doing any work.  Hence, my father was taking care of all the family expenses of his family and my uncle’s family. My grand father also purchased some lands on my fathers’ name and some lands on my uncle’s name.   My grand father died 20 years back.  My father sold the lands which were on his name, for various purposes.  Similarly the lands on my uncle’s name were also sold for the marriage & new house construction purposes of their family.  Five years ago, the joint family was separated into two, but the assets were not separated.  My uncle was selling all the jewels of my aunt, hence my father postponed the asset separation, afraiding that he will sell the land.  My father planned to hand over the assets to his sons directly.  Due to drunk addict, my uncle died 3 years ago.  All the medical expenses & final ritual expenses were done by my father.

Now, the assets are in my grandfather name. My father wants to give equal share to my uncle’s son, but wants to give some cash amount to my aunt. But I told him that legally we have to give some assets to her, whether she claims it or not.   In 1983, my grand father has written a registered will, making the first 2 grand sons as the beneficiaries  (Me and my brother).   i.e as per this will,  Only my father knows about it.  He said that no need to bring the contents of will during the asset separation, because my brother Manian will raise issues.  Unfortunately Manian also came to know about it through other means, while selling other property.  Nobody else knows about it. Now, me and my father want to give share to my uncle family.  How to convince my brother on this? My brother might accept to give share to my uncle’s sons,  but not to the aunt.  We also have other 2 sisters (daughters of my father), asking for property, we will give from our father share.  How to go about separation of assets without spoiling the relationships of all the family members?


 

 

 



 1 Replies

Kumar Doab (FIN)     01 July 2014

The properties that are registered in the Name of Grandfather and been given away by WILL by the grandfather. These properties shall be passed on as per wish of the deceased as in WILL. The beneficiaries can pass these to anyone as they please. It is felt that properties in the name of father and uncle are sold or they/their legal heir are rightful owners and can pass the property as per their wish.


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