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Wills made by NRIs in different countries for their assets ensure that the assets are distributed according to the individual's wishes, as other countries have different laws when it comes to inheritance.

Making a Will for NRIs

The Process of Making a Will for NRIs

Making a will is an important legal process for Non-Resident Indians (NRIs) living in different countries, as it allows them to transfer their property and assets to members of their family living in India. The Hindu Succession Act of 1956 is the law in India governing the inheritance of property in the Hindu community. The Act provides the legal framework for wills made by NRIs. The Act enables NRIs to make a will for their Hindu ancestral property in India, even if they are living abroad. However, such a will is required to be registered in the court of the concerned district in India. The Act also lays down certain norms for the execution of the Will.

Also Read: Things to keep in mind while writing a will!

NRIs should make separate wills for assets in different countries for several reasons, such as:

  1. Laws: Different countries have different laws and regulations for inheritance matters. For example, India has its own Inheritance Law, which dictates how assets are to be distributed upon the death of a person. In the same way, other countries also have their own set of laws regarding inheritance.
  2. Taxes: The taxes applicable to inheritance differ from country to country. To ensure that the correct amount of taxes is paid on the assets in each country, NRIs should create separate Wills. It will also help avoid disputes with the respective countries' tax authorities.
  3. Language: Different countries have different official languages. Thus, a will written in English may not be legally valid in a country where the official language is not English. Therefore, to ensure that the Will is legally correct in all countries, should create separate Wills for each country in the respective language.
  4. Execution of Wills: Different countries have different processes for executing a will. For example, the Will must be registered in India at the local sub-registrar's office. However, this process may not be applicable in other countries.

What is the process of making a will?

These are a few common steps that one should keep in mind while creating a will in India as per personal laws:

  1. Collect the Necessary Documents: To make a valid will in India, you must have certain documents. These documents include proof of identity such as a valid passport, a witness who can swear that the Will is valid, and a certificate from a notary public.
  2. Make the Will: After you have collected the necessary documents, you can make the Will. You can make the Will by hand or using an online will-making service. If you are making the Will by hand, use clear language and include all the necessary details.
  3. Sign the Will: You must sign the Will in the presence of two witnesses and a notary public. The witnesses need to sign the Will as well. The notary public will certify the Will and provide a stamp of authentication.
  4. Store the Will Safely: You should store it safely once signed and certified. Ensure that only you know the location of the Will and that it is stored securely.
  5. Update the Will: You should periodically update it to reflect your current wishes. You should also review the Will when you have significant life changes, such as marriage, divorce, or a birth or death in the family.

Also ReadWhy should women have a will?

NRIs should make separate wills for assets in different countries because they have other laws relating to inheritance and wills. In addition, making individual wills for assets in foreign countries allows NRIs to ensure that their assets are distributed according to their wishes in each country.

Disclaimer: This article is intended for general information purposes only and should not be construed as investment or legal advice. You should separately obtain independent advice when making decisions in these areas.

The Process of Making a Will for NRIs

Making a will is an important legal process for Non-Resident Indians (NRIs) living in different countries, as it allows them to transfer their property and assets to members of their family living in India. The Hindu Succession Act of 1956 is the law in India governing the inheritance of property in the Hindu community. The Act provides the legal framework for wills made by NRIs. The Act enables NRIs to make a will for their Hindu ancestral property in India, even if they are living abroad. However, such a will is required to be registered in the court of the concerned district in India. The Act also lays down certain norms for the execution of the Will.

Also Read: Things to keep in mind while writing a will!

NRIs should make separate wills for assets in different countries for several reasons, such as:

  1. Laws: Different countries have different laws and regulations for inheritance matters. For example, India has its own Inheritance Law, which dictates how assets are to be distributed upon the death of a person. In the same way, other countries also have their own set of laws regarding inheritance.
  2. Taxes: The taxes applicable to inheritance differ from country to country. To ensure that the correct amount of taxes is paid on the assets in each country, NRIs should create separate Wills. It will also help avoid disputes with the respective countries' tax authorities.
  3. Language: Different countries have different official languages. Thus, a will written in English may not be legally valid in a country where the official language is not English. Therefore, to ensure that the Will is legally correct in all countries, should create separate Wills for each country in the respective language.
  4. Execution of Wills: Different countries have different processes for executing a will. For example, the Will must be registered in India at the local sub-registrar's office. However, this process may not be applicable in other countries.

What is the process of making a will?

These are a few common steps that one should keep in mind while creating a will in India as per personal laws:

  1. Collect the Necessary Documents: To make a valid will in India, you must have certain documents. These documents include proof of identity such as a valid passport, a witness who can swear that the Will is valid, and a certificate from a notary public.
  2. Make the Will: After you have collected the necessary documents, you can make the Will. You can make the Will by hand or using an online will-making service. If you are making the Will by hand, use clear language and include all the necessary details.
  3. Sign the Will: You must sign the Will in the presence of two witnesses and a notary public. The witnesses need to sign the Will as well. The notary public will certify the Will and provide a stamp of authentication.
  4. Store the Will Safely: You should store it safely once signed and certified. Ensure that only you know the location of the Will and that it is stored securely.
  5. Update the Will: You should periodically update it to reflect your current wishes. You should also review the Will when you have significant life changes, such as marriage, divorce, or a birth or death in the family.

Also ReadWhy should women have a will?

NRIs should make separate wills for assets in different countries because they have other laws relating to inheritance and wills. In addition, making individual wills for assets in foreign countries allows NRIs to ensure that their assets are distributed according to their wishes in each country.

Disclaimer: This article is intended for general information purposes only and should not be construed as investment or legal advice. You should separately obtain independent advice when making decisions in these areas.