bhavyakjain
TF Select
ello
In light of recent case of Atul Subhash, I am curious to know about mechanisms to protect personal assets against any creditors, marital disputes, succession disputes, or any such liabilities.
I am currently unmarried and have no debt apart from monthly credit card bills.
I am a salaried person. I don't have any inheritance at the moment. I only have movable assets (cash, bank accounts, FDs, EPF, PPF, bonds and stocks) in my name at the moment.
1. I am planning to draft a will myself to outline my wishes for how my assets should uld be handled after my passing. It will include stuff like donating some part to my stated entities and division of assets among people (mostly myf amily members). How do I ensure my will will be respected and adhered to? How do I protect against any future claims/disputes by any family members or any legal heirs or anybody else contesting this will ? Alsos eeking protection against Indian Inheritance Act, Hindu Succession Acta nd any other such laws.
2. During my lifetime, how do I protect my assets against any creditors or claimants or disputes (marital or otherwise), including any other scenarios, such as bankruptcy, government seizing, property disputes, marital disputes, marital claims or alimony, division of assets, etc? Also seeking protection against Indian Marriage Act, Hindu Marriage Act, Section 498AI PC, and any other such laws.
I am looking for any methods or financial instruments or mechanisms for these cases. Please feel free to add in any other cases relevant to this post which I might have missed.
Note :
1. I am seeking this in general and not just specific to me. With more and more such instances of misuse of laws and fraud coming to light, I am sure it would help many more people.
2. Please refrain from unhelpful comments like “You don't enough wealth or assets to worry about such stuff”. For any person, whatever they own, no matter how small, is important for them,
3. The intent is not to commit any fraud or illegal intent. Asking solely for protection against any fraud or misuse of laws against me.
4. The intent is not to cheat or get out of any valid tax liability or such.
5. It would be really helpful if the solutions recommended are cheap and accessible to most people. Rich people anyways have plenty of these options available. It's the poor and middle class people who are most vulnerable.
Thanks for your suggestions and help.
In light of recent case of Atul Subhash, I am curious to know about mechanisms to protect personal assets against any creditors, marital disputes, succession disputes, or any such liabilities.
I am currently unmarried and have no debt apart from monthly credit card bills.
I am a salaried person. I don't have any inheritance at the moment. I only have movable assets (cash, bank accounts, FDs, EPF, PPF, bonds and stocks) in my name at the moment.
1. I am planning to draft a will myself to outline my wishes for how my assets should uld be handled after my passing. It will include stuff like donating some part to my stated entities and division of assets among people (mostly myf amily members). How do I ensure my will will be respected and adhered to? How do I protect against any future claims/disputes by any family members or any legal heirs or anybody else contesting this will ? Alsos eeking protection against Indian Inheritance Act, Hindu Succession Acta nd any other such laws.
2. During my lifetime, how do I protect my assets against any creditors or claimants or disputes (marital or otherwise), including any other scenarios, such as bankruptcy, government seizing, property disputes, marital disputes, marital claims or alimony, division of assets, etc? Also seeking protection against Indian Marriage Act, Hindu Marriage Act, Section 498AI PC, and any other such laws.
I am looking for any methods or financial instruments or mechanisms for these cases. Please feel free to add in any other cases relevant to this post which I might have missed.
Note :
1. I am seeking this in general and not just specific to me. With more and more such instances of misuse of laws and fraud coming to light, I am sure it would help many more people.
2. Please refrain from unhelpful comments like “You don't enough wealth or assets to worry about such stuff”. For any person, whatever they own, no matter how small, is important for them,
3. The intent is not to commit any fraud or illegal intent. Asking solely for protection against any fraud or misuse of laws against me.
4. The intent is not to cheat or get out of any valid tax liability or such.
5. It would be really helpful if the solutions recommended are cheap and accessible to most people. Rich people anyways have plenty of these options available. It's the poor and middle class people who are most vulnerable.
Thanks for your suggestions and help.
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