Specimen Draft of a Last Will and Testament under Indian Law
Legal Note:There is no prescribed statutory format for a Will under Indian law. A Will may be executed in any language and may be either handwritten or typed. Legal or technical language is not mandatory, provided that the document clearly conveys the unambiguous testamentary intent of the testator. A lawyer’s assistance, though advisable in complex…
Read article How to write a Wills under the Indian Succession Act, 1925?
The term “Will” is defined under Section 2(h) of the Indian Succession Act, 1925, as a legal declaration made in writing by a person, referred to as the Testator, whereby the testator specifies the manner in which his or her assets and properties are to be distributed upon their demise. A Will has overriding effect…
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Understanding the Various Types of Life and General Insurance
This article offers you the details of different types of life insurance policies, as well as general (non-life) policies like Property Insurance, Liability Insurance, Motor Insurance, Health Insurance, Travel Insurance Marine Insurance, cargo, etc. Insurance contracts can be broadly classified into two categories based on the nature of the insured risk viz. life insurance and…
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DFS advises banks to invoke personal guarantees and initiate IBC proceedings against the guarantors whenever possible
According to the sources with direct knowledge of the matter, the Department of Financial Services (DFS) has written a letter to Chairmen and heads of the banks on August 26, asking them to consider setting up of an IT system to collate such data, The IBC code amendment 2019 allows creditor to permits file insolvency…
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Unlocking Financial Potential: The Importance and Benefits of Wealth Management
The Importance of Wealth Management Wealth management goes beyond traditional financial advisory services. It represents a comprehensive and strategic approach to managing an individual’s or family’s financial life. Here’s why wealth management is essential: 1. Customized Financial StrategiesWealth management provides tailored financial plans that align closely with an individual’s unique goals, risk profile, and circumstances.…
Comprehensive Overview of Wealth Management Products and Services
Wealth management offers a comprehensive suite of financial services designed specifically for high-net-worth individuals (HNWIs). It encompasses strategic investment management, tax optimization, estate planning, retirement preparedness, and risk mitigation. A clear understanding of these services empowers individuals to make informed financial decisions, fostering long-term wealth creation and security. Investment Management Investment management forms the cornerstone…
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