Estate Planning

Estate Planning (3)

Six months back, Praveen Hazare died in heart attack when he was 65 years old. He was staying in Thane with his spouse and two married sons. He had a flat in Mumbai and a flat in Navi Mumbai. He died without making a will. After his death, there were disputes for sharing of properties. The dispute has to be decided by the court as per the Succession Act which will take a very long time. This could have been avoided had he made a will.  

Akash is 14 years old, staying in Kharghar with his parents. He is in born differently-abled. He depends always on his mother for daily routines. His parents are spending around to Rs 20,000 per month on his treatment. They are worried for his future; what will happen to him if they are not there?

Like Akash’s parents, most are worried for their special children. The emotional support can be provided by the family but a permanent financial solution for the children during their life time is the biggest challenge in our society. During their life time, they can take care of their special child but who will take care him after them? 

Mr. Naren  is 45 years old and  staying with his family in Vashi. He is working in a textile company. He has a 2BHK  flat in Vashi, a 3 BHK flat in Pune and  2 acres land in Karjat.  Mr Naren has  made a Will to avoid future litigation between his children as a part of his estate planning. Initially he kept all his documents in bank lockers, for which he is paying locker charges of Rs 2500 pa. He finds it very inconvenient to visit the Bank every time to access to his documents. Further he has been told that he has to pay extra visits charge now. 

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