We are presenting below the Handbook on Succession Process and a Guide to the Family to Handle the Assets of a Deceased Person
Of late I am getting many queries from the family of our friends, who left us for heavenly abode.
Apart from the shock and grief, they are at a loss to understand how to manage the various financial assets left by the deceased.
There is not a single source of reference to guide them as to how to proceed further in managing the financial assets of various classes.
The family is left in a lurch without knowing the entitlements to the family from the Government, Organization served by the deceased, Pensioneligibility, Claims due on the insurance policies, Role of the nominee, income tax implications of inheritance, etc.
If the deceased is a serving employee or a pensioner, to know about the various entitlements to the family including family pension or retirement benefits they have to seek the help of others to know their entitlements.
To obviate these difficulties, we have prepared a Handbook on the Successionprocess and a guide to the family of the deceased in managing the financial assets left by the individual.
You can get our Bank Nifty option tip for tomorrow or Intraday stock tip here and make money on a daily basis.
In this Write up we have covered the following topics chapter-wise.
Chapter 1.
Tips to Make the Succession process Simple
Chapter 2. Entitlements to the Spouse and Legal heirs.
Chapter 3. Family Pension- Eligibility
Chapter 4: Bank accounts and Deposit accounts in the name of the deceased.
Chapter 5. Various Type of Accounts in the name of the deceased- SCSS, PMVVY, PPF, Tax Saver Deposit, etc
Chapter 6. Nomination- Various Asset Classes.
Chapter 7. Transfer of Title-Immovable and Movable Properties.
Chapter 8. Income Tax Implications- On Inheritance, Compensation, Gratuity, Duty of Legal heirs in Tax Compliance.
Chapter 9. Claims and Definition of Legal heirs.
Chapter 10. Characteristics of a Will and Common Legal Terms.
Chapter 11. A Check List for Legal heir/s.
Annexure I - Important Medical Information Format.
Annexure-II -Important RBI guidelines on Bank Accounts.
The basic idea is to help and prepare the next of kin of the deceased as how to handle different classes of assets and certain financial transactions.
We have uploaded the file here for the benefit of our friends.
Hope the Handbook is informative and serves its purpose!
Pray God for Good health and happiness all around ….
You
should Trade Less But Trade Accurately & this is Achieved with our Tip.
