LawTarazoo

27/08/2026

💰 The Estate Duty Act was repealed in 1985. India has no inheritance tax. But your heirs will pay capital gains tax when they sell what you leave them — and your Will affects how much.

Under Section 49(1) of the Income Tax Act 1961, inherited assets take the previous owner's cost of acquisition. Grandfather bought Mumbai flat in 1972 for Rs.80,000. Worth Rs.4 crore today. Heirs' capital gain is calculated from that 1972 base.

Two Will-level choices change the tax bill: specific bequests vs residuary trust; distribute in-specie vs sell-and-distribute (cash triggers immediate CGT).

Our engine flags pre-2001 assets (Section 55 fair-market substitution eligible). Link in bio.

20/08/2026

👪 In India, a step-child is NOT a legal heir of the step-parent under any personal law — Hindu, Muslim or Christian. They inherit ONLY through a specific bequest in a Will.

So when a Hindu widower with children remarries a Hindu widow with children, and they buy a house together, and one dies — the surviving spouse's biological children inherit that share. Step-children on both sides get zero.

A properly drafted Joint Will in a second marriage names each step-child as a bequest recipient, uses survivorship language, and includes a mutual-Will clause preventing the survivor from rewriting later. Link in bio.

13/08/2026

👵 Section 23 of the Senior Citizens Act 2007 lets a parent revoke a gift or transfer if the child fails to maintain them.

The law: if a senior transfers property to a child on the condition that the child maintains them, and the child fails, the transfer can be declared void ab initio by the Maintenance Tribunal.

S. Vanitha v. Deputy Commissioner (SC, 2020) confirmed this power extends to registered gift deeds too. Elderly parents making a Will should reference the Senior Citizens Act 2007 in the recitals and include a maintenance-conditional clause.

Our engine includes an Elder Care Protection clause for testators above 60. Link in bio.

06/08/2026

🕌 A Muslim man dies leaving wife, son, daughter and his mother. Sunni law and Shia law produce different distributions.

Under Hanafi Sunni law: wife 1/8, mother 1/6, remainder to children in 2:1 son:daughter ratio (son 47.2%, daughter 23.6%). Under Ithna Ashari Shia: same shares, but if no son, daughter takes residue outright.

Our engine asks for madhhab. Wasiyat cap 1/3 applies uniformly. Link in bio.

01/08/2026

📝 Your executor is doing 40+ things in the first 90 days after your death.

Week 1: death certificate (10+ copies), secure residence, notify banks, inform employer.

Week 2-4: asset inventory, valuations, file final IT return under Section 159 IT Act, apply GSTIN cancellation within 30 days.

Every Law Tarazoo Will includes an Executor Companion — the 30/60/90 day checklist.

Link in bio.

01/08/2026

🏢 LLP partners: your death dissolves the firm by default. Under Section 24(2)(c) of the LLP Act 2008, an LLP dissolves automatically if partners fall below 2 for more than 6 months.

When a partner dies without a properly drafted LLP clause AND a matching Will, the surviving partner has 6 months to find a new partner OR watch the firm dissolve.

Every business-owner Will we draft coordinates 3 documents: LLP Agreement (allow admission of heir), Will (naming successor), Business Continuity Deed (interim manager).

Business succession consult (30 min) at lawtarazoo.com

Wills, NRI estates, succession consulting, and full succession planning. Five transparent services from ₹5,000 to ₹1,00,000 — drafted and advised by expert advocates. Secure payments via Cashfree.

01/08/2026

🌏 Your US 401(k) and Roth IRA are NOT Indian assets. But your NRE / NRO / FCNR balances ARE.

Miss this in your India Will and your family pays IRS + Indian income tax on the same money. The fix: a companion India-only Will naming an Indian executor with a resident PAN, addressing NRE/NRO/FCNR accounts specifically, and excluding your US retirement accounts.

Two Wills, one clear plan → lawtarazoo.com/nri

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