What legal mechanisms can parents consider in estate planning to protect the financial interests of their children with special needs? Estate planning goes beyond simply drafting a will; it allows you to plan comprehensively for your child’s future, including their financial security and care. This process is crucial for families with special needs children to … Read more
That’s where a conditional will—one that lets you define how, when and under what circumstances your wealth is passed on—can make all the difference. Families are increasingly using such wills to ensure their plans hold firm even when life takes an expected turn. Conditional wills As the same suggests, a conditional or contingent will takes … Read more
The date of acquisition for the property inherited by you from your father will be the date on which your father had purchased the property. The cost and date of acquisition for a capital asset acquired under a will or as a gift, will be the cost and the date for which, and on which, … Read more
I’m in my 50s and looking to draft my Will. I expect to inherit some assets from my parents, which may include their flat and financial holdings, after their passing. Can I include these future assets in my Will now, or will I need to make a new Will after I inherit them? —Name withheld … Read more
Securing our family’s future is topmost priority for most of us. Alongside taking insurance policies and making investments, there is a crucial step in this—estate and succession planning to ensure our family inherits our assets without delays, hardship, or confusion. Yet, this aspect is often neglected due to the anxiety and discomfort arising from contemplating … Read more
My brother-in-law passed away in a hospital last year. Before his death, he gave oral instructions on how he wanted his assets divided and asked me to carry out his wishes. He did not leave behind a written will. Now, his mother is claiming a share of his assets, which my sister is contesting based … Read more
What are the key differences between a springing power of attorney, which becomes effective upon incapacity, and a current power of attorney, effective immediately? What important factors should one consider when deciding on which type would best protect one’s assets and meet the estate planning goals? —Name withheld on request One should carefully consider the differences between … Read more
How do legal frameworks governing testamentary and intestate succession differ from the role of a nominee in temporarily managing assets until the rightful successor is determined? What should I consider to ensure my estate plan is legally sound, minimises administrative burdens, and prevents potential disputes among heirs? -Name withheld on request One needs to understand … Read more
Most people fear the idea of estate planning or laugh it off thinking they are immortal. Estate planning is about ensuring your loved ones or a third party get access to your assets in a manner that you would want them to. Estate planning at its core is about putting arrangements in place for how … Read more
I have been asked to sign as a witness for my friend’s will. In this legal role, what are the implications and responsibilities that come with being a witness to a will? Are there specific legal obligations or requirements that I should be aware of? —Name withheld on request A will is an instrument of … Read more