Services

Services

Will & Trust

  • To act as Trustee for High Net Worth Individuals (HNI) for managing their personal wealth and to pass on the same to their legal heirs as per will
  • To settle Family Trusts and act as a Trustee for beneficiaries

We at SBICTCL,

  • Do the drafting/execution of a Will and creation of a Family Trust, which provides greater clarity to the financial affairs of the family and facilitates smoother transfer of properties from generation to generation.
  • Through these facilities you can plan various family requirements like setting up funds for educational requirements of your kids, steady income for elders, and more organised and structured way of dealing with family wealth and financial requirements.
  • You can also better organise any charitable work in which you may be interested in, through the above facilities.

A WILL is the legal instrument in the form of written declaration that permits a person ("the Testator") to decide that how his/her estate will be managed and distributed after his/her death. A WILL should always be signed by the Testator and should be witnessed by two persons of sound mind. Section 59 of the Indian Succession Act provides that, any person who is above the age of 18 and having a testamentary capacity can make a WILL. A WILL allows to select a person or institution to whom the property/ assets should devolve on his/her death rather than allowing the state laws (Hindu Succession Act/Indian Succession Act) of deceased and distribution to choose the legal heirs, who, although blood relatives, might be people the Testator dislikes or with whom he is unacquainted. A WILL allows a person to decide which individual/s or institution/s could best serve as the executor of his estate, distributing the property fairly to the beneficiaries while protecting their interests, rather than allowing a court to appoint a stranger to serve as an administrator. By making a WILL Testator can choose who he/she wish to inherit his/her assets, rather than this decision being made by the laws of intestacy. A WILL is a written declaration of a person either it should be handwritten or typed; however a typed WILL is preferred. WILL can be made on a plain paper.