Best Estate Planning Companies in India

 

Estate Planning

The process of anticipating and arranging, during the person’s life, for the management and disposal of that person’s estate during their lifetime, unless and until the person becomes incapacitated or dying. This type of planning includes the bequest of assets to their respective heirs, in addition to minimizing gift, estate, generation-skipping transfer, and taxes.  

The process is ascertained to reduce or eliminate uncertainties over the administration of a probate and maximize the value of the estate by reducing taxes and other expenses.

Over and above, estate planning mostly depends on the estate owners’ goals. This planning sometimes might involve byzantine phases, or be simpler than expected goals, however, as I said; it all exclusively depends on the estate owners’ goals. In such circumstances, the estate planning is designated to guardians for minor children, while beneficiaries in the case of incapacity. Continue reading to know what the best estate planning companies are!  

Top estate plans are:

•    NexGen Transfer: one of the crucial situations after death is choosing the nominee for the assets you leave. It would be even worse if there is no legal Will in place. Ultimately, this might instigate serious disputes amongst family members over your estate and assets. Moreover, this generation is replete with avaricious people, who always want a bigger pie, no matter whether it could devastate the peace and happiness of the family or not. So in that case, an estate planning company like NexGen Transfer is exceptional, where they affirm how to write a will, and demonstrate the perception of trusts, and other estate planning issues. On the whole, NexGen Transfer with its specialized estate planning team has been working in this field for more than thirty years, in over 151 countries. They know how to carry out succession planning, inter generational wealth transfer, trusts, nominations, and wills. Estate planning companies are important if you want someone to determine how your asset can be preserved, managed, and distributed after your death, or the moment when yours become incapacitated. The whole planning involves making a will, which sets up trusts or makes charitable donations to limit estate taxes. They name an executor or beneficiaries and lastly carry out the funeral arrangements. Having that said, a will is a legal document that provides in-depth information about the person’s property and custody of their minor children after the person's death. Besides, writing a will, most major estate planning companies follow supreme succession planning steps, such as; 

•    Limits estate taxes by setting up trust accounts in the names of beneficiaries.

•    Establishes a guardian for the custody of minor children, if any. 

•    Creating or updating beneficiaries’ details on insurance, IRAs, and other important estate-related documents. 

•    Sets up funeral arrangements 

•    Establishes annual gifting to non-profit organizations and charities, to reduce the taxable estate. 

•    Sets up an estate law experienced power of attorney to direct other types of assets and investments of the individual. 

On the whole, NexGen Transfer renders a serviceable company, which is enclosed by well-experienced leading lawyers. Moreover, they organize complicated wills with the aid of qualified CA, Tax, and Financial planners, plus make sure the system is regularly updated and improved. In case of emergency, they provide clients a house call option for immediate response and solution. From rendering will & trust services to auditing estate, writing will and other legally necessary documents, protection to minor children (if any), trust-related services, bereavement advice,  power of attorney services, estate plan, estate planning advisory services.  

•    Khaitan & Co:  working for more than 100 years, Khaitan and Co has its expertise across every corner of the globe. They have been flung well on legal developments and trends lately, where actively publishing articles, creating client engagement, engaging with legal significance for the better understanding of legal policies in the case of will and trust. Each team assigned by Khaitan & Co is specialised to deliver each type of service. Speaking of which, they provide up-to-date services on banking & finance, capital markets, corporate related-subjects, privacy and protection, indirect as well as direct tax, dispute resolutions, and many more estate related concerns.  Lastly, they provide regular and latest services on drafting, safekeeping the estates, executorship, administration, probate, review & revision of the important documents, minor trusts, special care towards minor children and nominees, business value protection, credit protection, testamentary,  and many more. On the whole, this 100 year old estate planning company has been delivering an exceptional, flexible, responsive and knowledgeable team on ground to clients, when it comes to estate planning. 

•    Indian money: A good estate planner is defined on the basis of how righteous they are, in terms of inter gritty and ethics. Followed by, high proficiency in estate planning laws & documentation extent, a personality that people can lean on, both in times of personal and professional related issues. And especially, the ability to comprehend the needs of the individual and rendering prudent advice. Eventually, Indian Money is a full-on package of all these services. Since 2008, Indian Money has been providing free financial advice to clients prior to jumping to conclusions. They have a keen note of providing absolutely free and fair advice and also clear doubt on any kind of financial-related queries, such as insurance, mutual funds, loans, bank accounts, deposits, stocks or real estate properties. So having that said, Indian Money makes sure that you have prevented financial and legal grief to the assigned one, and helps the beneficiary reduce tax outgo on account of inheritance. They are always open for anyone who seeks a legal opinion, by teaching the importance of wills, trusts, and also about the forced heirship rule.

OVERVIEW: 

Death is inevitable, same as the estate planning has to be. Seeking legal opinions of a trust estate planning company could help you to legitimately understand the dynamic process of financial planning. Approaching an estate planner sooner is better than never, so what are you waiting for, decide how much of your estate, be it property, personal finance, assets, investments, you want to pass on to whom and how, after your demise. 

For more information visit us & call us at 9599445568.

Making a Will, Wills Online, Living Will - Draft of a Wills

 

Making a Will

With the rapid realization about succession forethought and the expansion of digital penetration, Indians have begun taking Online will creators’ services. Generating an Online will is comfortable, favorable, and is a low-priced alternative to employing a lawyer for the job. Making a will Online is undoubtedly cheaper and ensures the absolute privacy of the person who is writing the bill. It Is more like DIY, and besides it, there is a brief instruction from a group of legal professionals for drafting the will.

Making a Will Online – Living Will

Although there are numerous ways of handing over your wealth to the next generation, needless to say, Making a Will on an Online platform is safe and convenient. It imparts digital information regarding your financial assets, investments, property details, and to whom you wish to transfer all your property, money, and assets after your death. It is time-saving and highly secured. One can make a Living Will in just 45 minutes. Digital allows you to clear out differences and conflicts, moving ahead with the process. There is always a scope for editing and changing the will according to your desire hassle-free without hiring a lawyer for that.

Make a Will Online

Experts believe that making a will is extraordinarily vital and necessary. However, unlike developed countries, there is no coherent law in India which states a Living will be mandatory. Therefore, make a will online is far better than not making it! Online will is simple, secured, and flexible. The usage of the website and mobile phones, for that matter, is entirely safe. You need to pay an online fee of 2500- 3000 rupees through internet banking, debit card, and credit card. There is the emergence of Digital platforms that provides services for creating an Online will.

NexGen planners are encouraged by AFFM India to act as a partner for Financial Advisor planners on estate and proceeding planning matters. NexGen understands that thinking about drawing a will can make you anxious and skeptical regarding the whole process. Their expert members would briefly assist you regarding documentation of will, its importance, and other essential value-added services that clients can avail of to safeguard their dear ones’ future. They have an extensive range of will writing services, ensuring authenticity and solution-oriented results from their end.

Their members ensure the smooth process of passing on your assets smoothly and conveniently. They would look into the matter closely, study individual circumstances, and evaluate asset profile objectives. Based on the detailed evaluation, they would guide with useful advice and solution so that the asset would be transferred to an intended heir in a hassle-free manner. Our wide range of will writing services includes will validation, will drafting, registering wills, safekeeping, formalizing, and executorship services. We avail both online and offline services for will writing. So if you want to utilize our will drawing services at the comfort of your home, we are more than happy to assist you.

Indian Procedure of Outlining and Registering Wills Online

Wills Online

A will is an essential document that declares all the important intentions of a testator concerning how they want to dispose of their assets after their death. It is also a unilateral document that only take its effect after the death of the testator and defines informed decision regarding the way they want to distribute their wealth, property and all their assets.

If you are tired of researching ways and procedures to create wills online or if you have been continuously searching for prominent trusts in Mumbai, you have come to the right place. Registering a will online with the help of NextGen transfer will not only make the entire process seamless, but it will also make sure that your will is drafted, registered, executed, and administered with the utmost professionalism.

But first, let's understand what a will is and why is it so important to plan and create a will?

What is a will?

By definition, a will is a legal document that is a declaration by a person regarding the distribution of their assets and wealth after their death. A will is responsible to name all the individuals who will and are subjected to receive the possessions of the testator after their death. The individuals mentioned in the will can be family members, relatives, friends, or even colleagues who the testator trusts. The legal document that is, the will can be used, edited, or substituted by the testator (executing person) at any point while or during their lifetime.

A will can also act as a legal document that highlights the succession planning for a company or business as desired by the property holder. A will can also be easily modified to assist with the transfer of trust deed where you can easily decide who you wish to hand over the legal title of your beloved property. The receiver can only be a third party in the case of a trust deed. A third party can be a bank or even a title company that can handle the financials of the real estate property.

Why do I need to create a will?

Will planning is important as a legal document that can always act as a backup or an inventory of possessions that can be left behind by the deceased. Creating a will makes sure that none of your decisions related to your assets are tampered with. As the will is always kept in the safe custody of a registrar, the will cannot be destroyed or stolen. Registering a will online also makes sure that no other person than the testator and executor can access or examine the legal document without a written permission. Another advantage of registering a will online is that you can easily get professional help and assistance from online estate planning solutions service providers who can help you draft, register, execute, probate, and administer your will.

Why online will?

Most experts suggest people not write their own will or carry out a “DIY” while drafting their own will. It is not always advisable to draft and execute your own will because you might not have the appropriate expertise required to create a will. You may not be able to identify the things to be ignored or avoided. In case you draft a wrong will, you might end up in court and the will might not help you realize your goals. Here's what may happen in case you don't seek expert assistance for creating, outlining, and registering a will online from estate planning solutions service providers.

•    You might miss on the residuary clause
•    Wrong wills might drag you to the court, causing future problems
•    You may not be granted a probate
•    You might end up falling into certain legal implications
•    The will may not function as you desire and wish

How can NexGen help create trust deed and will online for proper succession planning?

NexGen being a leader in drafting and vetting wills and trusts deed shall be able to assist you with the help of their experienced lawyers in the dynamics of will creation. With a team of experts with years of experience, NextGen assembles the help of their in-house team of qualified chartered accountants, financial planners, and a panel of consultants to work on complex wills and trusts deed. NexGen also follows a straightforward but complex system that's unique to ensure that all of their Estate Planning Solutions and will, trust services are in tune with your requirements.

NexGen follows a more practical approach where they draw their solutions from their experiences with other clients and eradicate all possible risks and errors to ensure streamline will drafting and estate planning.

The process of outlining and registering wills online and the creation of the trust deed begins with the drafting. The latter process includes safekeeping, executing, probate, administration, review, and revision. For Trusts Deed, NexGen offers services including asset protection, life insurance, living trust, special child needs, business value protection, and the formation of several types of trusts.

Concluding, NexGen leads you throughout the complete registration process and offers guidance by accompanying you to the office of the sub-registrar. This ensures that your Will is registered safe and the process becomes hassle-free.

Trusts - Making a Wills - Revocable Living Trusts

Trusts & Wills

We are all aware of the terms “will” and “trusts.” much spoken about terms when it comes to state transfer and transfer of assets. However, only a couple of people understand the differences between the two. Talking in legal terms, both; a will and trusts are useful legal documents used as devices for estate planning and division, but they both serve different purposes. In some cases, a combination of a will and several trusts form a complete estate plan for a person who wishes to leave a lot behind to his family. Both the documents are used to transfer an estate to their heirs, but only one of them can skip probate. Nearly, everyone can benefit from both the types of estate planning but for some; the best tool can be a will based on their plan for their assets. Others may find trust to be better suited for their requirements.

What is a trust?

So, while spending your time to make a will online or preparing the draft of a will with the help of a service provider, you thought of power over your assets even after you die? Do you need to understand what trusts mean? While a will helps you decide and plan the division of your assets and properties, trusts, especially, a living revocable trust helps you exercise more control over your assets. With the guidance of a revocable living trust, you can still hold something asset and property, even after passing them over to your beneficiaries.

What is a living revocable trust?

A living revocable trust is a legal trust document that is created by a person and can be updated or edited over time. Unlike a legal will, the living revocable trust can be efficiently utilized to avoid probate. It can also protect the privacy of the owner of the trusts and the beneficiaries of the trusts. Apart from securing the privacy of the owner and the beneficiaries, living revocable trust also help minimize state taxes.

What is a will?

A will also termed as a testamentary document is a legal document that can be used to enforce responsibility and distribution over beneficiaries after you die. Based on a will, you can state the way you want to distribute your assets and properties after you die. Like trusts, will is an important document that can be used extensively for estate planning. Will works majorly in favor of children and family that’s left behind to help hold someone you trusts responsible for the guardianship. With the help of a will, you can also place your decision of estate transfer.

Revocable Living Trusts vs Wills

When people say, “you can’t take things when you go,” they certainly don’t mention the draft of a will or living revocable trusts that can help you control your assets even beyond your grave. Passing your wealth or your assets to a spouse or a partner is generally not a problem. However, the transfer becomes tedious when the assets are to be passed on to a subsequent generation. Financial planners, all across the globe, examine the method they should opt to transfer their assets to that children or grandchildren. This is where the difference between trusts and will come into the picture.

The first main difference between trusts and a will is that a will comes to effect only after you die. On the other hand, trusts take effect as soon as you draft and create it. A will is generally a document that directs the division of your property only at your death as it appoints a legal representative to carry out all your wishes plant for the beneficiaries. On the other hand, trusts legal decisions that help distribute the property even before death, at death, and afterward. A trust can instead be called a legal arrangement where a trustee (person holding the legal assets) gives away the legal property to a beneficiary or several beneficiaries.

Another significant difference that sets them both apart is that a will covers any property that is under your name. It will not protect the property that you hold in trust or a joint tenancy. A trust, however, covers the property that has been transferred to the trust. This means a property is supposed to be put in the name of the trusts to be included in a trust.

Last but not least, a will has to mandatory pass through probate. This means that the agreement written on a whale will be administered by the court to be considered valid for distribution. However, trusts pass outside of probate, which implies that a Court has nothing to do with the process of issuing the property to the beneficiaries.

Making the draft of a will or establishing a living revocable trust has its advantages and disadvantages. As mentioned above, a will can give you the ability name for your children, but trusts cannot do the same. On the other hand, trusts can be easily used to help you save taxes on your estate. The best way to learn which one to use and if or not to make a will online is to get in touch with an expert professional who can help you understand the difference between revocable living trust and wills.

For more information visit us & call us on 9599445568.

 

Need to Start From the Basics of Estate Planning

Estate Planning

Ever wondered what will happen to your family if anything happens to you? Ever thought about the hardships they would have to go through in such a case? Estate planning can help lower that burden. I am not saying that this certainly will happen, but being prepared is how you can protect your family. How you can do that? For that, you need to start from the basics of Estate Planning.

What is Estate Planning?

Estate Planning is the process of designation that will have the authority over your assets and handle your responsibilities after your death or incapacitation. Estate Planning will also provide your beneficiaries to receive these things in the most cost-effective way possible. The key question to ask yourself while Estate Planning is – “How do you want to distribute your assets and among whom when you die or become incapacitated?”

Estate Planning sure is very crucial for everyone, irrespective of the fact that they are rich or not. This secures your family’s future and enables them with the authority to make important decisions even when you are disabled or not around.

12 steps to the basics of Estate Planning

Make a will: Take a professional’s help and make a will. In a will you state how you want to distribute your property. Also, assign a guardian for your young children in case anything happens to you or the other parent.

Consider Trust services: Trust services provide solutions to your various problems linked with wealth management or child management.

Health care directives are your best friend in case of medical incapacitation. It is like a living will, you provide a power of attorney to a person who can take decisions in your place if you are medically not-in-condition to do so.

Assign a financial power of attorney: A financial power of attorney, also called agent or attorney-in-fact is a person who you assign the power to handle your finances if you become disabled in such a sense in which you are no longer able to take any such decisions.

Secure your children’s property: Assign an adult person as guardian to manage the money until your minor child becomes of age to inherit your property. You can choose any person you trust as a guardian.

Fill beneficiary forms: Filing beneficiary forms make your bank accounts and retirement plans “payable on death” automatically and allow the funds to skip the probate process.

Life insurance is also considerable: Whether you own a house or property or any other asset, having life insurance can protect your family after your death.

Gain knowledge about the Estate taxes in your country or states as it may vary according to the region.

Funeral expense coverage is important: Make your accounts in banks and deposit funds as ‘payable-at-death’ to pay for your funeral and related expenses.

Make your final arrangements: Make your end-of-life wishes known to your family and relatives related to organ donation or disposition of your body.

Protect your business: If you own a business and you are the sole owner you should consider a Succession Plan. If you have other partners you must have a Buyout Agreement.

Carefully store your documents: Documents such as your will, trusts, insurance plans, etc. are sensitive documents that should be protected and stored ina secure places like a vault or bank locker.

Estate planning as discussed above through these 12 points sure is very important for all. If you want to protect your family even after your death or incapacitation you must consider Estate Planning. There are a lot of good Estate Planning companies like the Nexgen Estate Planning Solutions Pvt. Ltd. Nexgen provides a verity of top-notch Estate Planning services and is one of the leading companies in India and a subsidiary of the global education board, AAFM.

For more information visit us & call 095994 45568.

Estate Planning - Power of Attorney

Estate Planning: A 12-Step Checklist of the Basics

Ever wondered what will happen to your family if anything happens to you? Ever thought about the hardships they would have to go through in such a case? Estate planning can help lower that burden. I am not saying that this certainly will happen, but being prepared is how you can protect your family. How you can do that? For that, you need to start from the basics of Estate Planning.

What is Estate Planning?

Estate Planning is the process of designation that will have the authority over your assets and handle your responsibilities after your death or incapacitation. Estate Planning will also provide your beneficiaries to receive these things in the most cost-effective way possible. The key question to ask yourself while Estate Planning is – “How do you want to distribute your assets and among whom when you die or become incapacitated?”

Estate Planning sure is very crucial for everyone, irrespective of the fact that they are rich or not. This secures your family’s future and enables them with the authority to make important decisions even when you are disabled or not around.

12 steps to the basics of Estate Planning

Make a will: Take a professional’s help and make a will. In a will you state how you want to distribute your property. Also, assign a guardian for your young children in case anything happens to you or the other parent.

Consider Trust services: Trust services provide solutions to your various problems linked with wealth management or child management.

Health care directives are your best friend in case of medical incapacitation. It is like a living will, you provide a power of attorney to a person who can take decisions in your place if you are medically not-in-condition to do so.

Assign a financial power of attorney: A financial power of attorney, also called agent or attorney-in-fact is a person who you assign the power to handle your finances if you become disabled in such a sense in which you are no longer able to take any such decisions.

Secure your children’s property: Assign an adult person as guardian to manage the money until your minor child becomes of age to inherit your property. You can choose any person you trust as a guardian.

Fill beneficiary forms: Filing beneficiary forms make your bank accounts and retirement plans “payable on death” automatically and allow the funds to skip the probate process.

Life insurance is also considerable: Whether you own a house or property or any other asset, having life insurance can protect your family after your death.

Gain knowledge about the Estate taxes in your country or states as it may vary according to the region.

Funeral expense coverage is important: Make your accounts in banks and deposit funds as ‘payable-at-death’ to pay for your funeral and related expenses.

Make your final arrangements: Make your end-of-life wishes known to your family and relatives related to organ donation or disposition of your body.

Protect your business: If you own a business and you are the sole owner you should consider a Succession Plan. If you have other partners you must have a Buyout Agreement.

Carefully store your documents: Documents such as your will, trusts, insurance plans, etc. are sensitive documents that should be protected and stored ina secure places like a vault or bank locker.

Estate planning as discussed above through these 12 points sure is very important for all. If you want to protect your family even after your death or incapacitation you must consider Estate Planning. There are a lot of good Estate Planning companies like the Nexgen Estate Planning Solutions Pvt. Ltd. Nexgen provides a verity of top-notch Estate Planning services and is one of the leading companies in India and a subsidiary of the global education board, AAFM.

For more information visit us & call 095994 45568.

What is a Trusts? How Does a Trust Work?

Trusts - Trusts Deed - Testamentary Trust

Hearing the words “Trusts” or “Trust Funds” is synonymous with “wealth” and “high-class families,” isn’t it? Trusts or trust funds always mean a wealthy family in a Mansion with plenty of inherited wealth and money passed down from their ancestors. But you will be surprised to know that the accurate definition of a trusts or trust fund is different in reality. In actuality, trust and trust fund nothing mysterious or difficult to understand. Moreover, you need not belong to a wealthy family to benefit from a trust.

Trust is a legal vehicle that expands your present options when it comes to the cost of managing your belongings and your assets. Whether you are trying to protect your wealth from taxes or you have made a decision to pass it on to your children, trust is a fiduciary arrangement that helps you let a third party hold your assets for a desired amount of time.

If you are still confused about trust, and how it works, we have lined up all the necessary information for you.

 

What is a Trust?

Trust fund and trust gained its popularity in the 2000s when trust fund for a way of describing a particular type of undeserving rich person. But, in actuality, trust is much more than money method for the entitled rich people. Trust is a simple financial instrument that can be used to hold and distribute your assets according to your rails when you are not around to utilize them yourself. Trust is not an account but a legal document that announces you as the owner of assets and it offers the mentioned individual, a place in the assets. Some people also use that trust to keep their property out of probation before it is passed on to the beneficiaries. And sometimes the same trust can shield its assets from the creditors.

What is a Trust used for?

As mentioned, a Trust is a legal document that announces your ownership of assets, it is used for the following important as of shielding and protecting.

• A trust is created to keep your property safe and out of probation
• A trust can also be created for a particular family member who requires support through income and instructions
• Trust can also be created to support an heir or an associate, consistently over time
• The document of a trust can also be created to include specific terms and conditions that dictate if the beneficiary will receive the property
• Types of Trust as well that can be used to attach strings to a kids inheritance

 

How does a trust fund work?

Trust is a legal entity that is responsible for holding almost all assets belonging to an individual. These assets include real estate properties, bank accounts, investment accounts, business interest, and several other life insurance policies held by the individual. If you want to set up a trust fund for yourself, you need to contact and concert an expert estate planning attorney who can guide you through the entire process of setting up a legal trust fund. The expert estate planning attorney will help you out through the process of creating the type of trust that is best for your situation.

With the help of an expert estate planning attorney you can easily graft the type of trust and the first documents denoting the exact details as to how and whom your assets will be distributed. Whether it involves passing your entire annual income to yourself or your beneficiaries, your money, or property to be transferred to your children, our gift and charity distributed at your death, a trust fund covers everything.

Trust created can shelter your assets from going through probate on a lengthy legal process that only happen after a person’s death. In which case, the court handles the payments of all the death and Taxes and distributes the entire state of properties to the individual according to the will or according to the state law.

The working of trusts and trust funds also depends on the type of trust that matches your situation according to the expert estate planning attorney. There are a lot of types of trusts, as mentioned below.

Marital or “A” Trust: The marital trust is design specifically to provide all the benefits to a surviving spouse. The marital trust is generally included in the taxable estate of the existing spouse.

Bypass or a “B” Trust: Also known as the credit shelter trust, the bypass trust is created to bypass the surviving spouse assets in an attempt to fully use the federal estate tax exemption for each spouse.

Testamentary Trust: This is an irrevocable trust which is specifically created to exclude the life insurance proceeds from the taxable estate of the deceased along with offering liquidity to the estate and the beneficiaries of the trust.

Irrevocable life insurance Trust: This irrevocable trust that is designed specially to exclude the life insurance from the deceased taxable estate why providing liquidity to the beneficiaries is called irrevocable life insurance trust.

Charitable Trust: As the name suggests, a charitable lead trust allows benefits to go to the charity, and the remainder benefits are awarded to the beneficiaries.

Charitable Remainder Trust: A trust that allows the Trustee to receive a stream of income for a particular period and awarding the remainder in the charity is called a charitable remainder trust.

If you have been looking for the right estate planning services who advise and execute the support for trusts and wills, you can easily get in touch with Nexgen Transfers Estate Planning Solutions; the ones who believe in leaving an inheritance and not a mess.

For more information, visit us and call now 095994 45568.