Have assets in India?
You can make a Will to allocate your Indian assets among your loved ones in the way you intend. Let’s decode some important aspects.
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Legal rule
When making a Will, follow the rules of the Indian Succession Act of 1925. After drafting the Will, get it signed by a minimum of two witnesses.
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Allocation
Allocate each of your Indian asset to specified individuals or entities. Don’t leave behind any property or investment as it might cause confusion.
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Foreign Wills
If you are making a Will outside India for assets within India, deposit the Will and prove it in an Indian court and grant a probate.
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Creating Trusts
You can create a Trust for foreign currency assets in India. The Trust should be approved under the Foreign Contributions Regulations Act, 1976
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Make the Will with a sane mind and without any coercion. You can also make changes to the Will, if needed, and get it updated.
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Create Indian assets with IDFC FIRST Bank’s NRI banking solutions. Invest in suitable avenues to plan your legacy.