Estate Planning Basics
Estate planning is a system of interconnected tools — not just a will. This guide covers what makes a will valid (witnesses, registration, regular updates), the crucial and widely misunderstood distinction between a nominee (who courts have held to generally act as a trustee, not an automatic owner) and a will-based beneficiary, how joint “Either or Survivor” accounts provide liquidity without replacing the will, the role of Power of Attorney during your lifetime, when trusts become useful, the often-overlooked area of digital assets, what happens if you die without a will (intestate succession under laws like the Hindu Succession Act), and the regional probate requirement that applies specifically to immovable property in Mumbai, Kolkata, and Chennai.