Financial planning: Why end-of-life planning is crucial and how to do it
What went wrong? The will was written by the husband, indicating that his wife would inherit everything if she survived him, and that the property would be given away in charity if she did not, after his lifetime. When the will was read to the family, the heirs pointed out that she had inherited the wealth from him as per the will, but that there was no will written by her in which she indicated giving away the wealth to charity. His will had specified charity only if she predeceased him.
The lawyers seem to agree with this interpretation. The will includes prime property worth several crores in Mumbai and the heirs are unwilling to let go, even if many were not on talking terms with the couple when they were alive. Getting good quality legal help in these matters remains a challenge. A longtime lawyer friend had apparently told the woman that she should will him the properties and that he would settle all dues and donate the money. The sensible lady had spurned the offer.
Family courts hear thousands of cases relating to property disputes. There are different sets of laws applicable to different communities. Case laws, judgments and interpretations vary widely as to who has the right to wealth that has been left behind. Intestate death, where there is no will and direction from the deceased about who will get what, is even more complicated. Even if there is a will and testamentary directive about what should happen after death, the path to distribution of wealth after one’s lifetime is strewn with obstacles.
C
