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  Will and Probate   Background: In the previous blog we have discussed about – what is a Will and its essential characteristics, who can make a Will, care to be taken while drafting a Will and so on. In today’s blog we will discuss about what is a Probate and how can it be obtained. We have already seen that a Will is a legal declaration made by the testator/testatrix with respect to his property, which he desires to take effect after his death. It is a legal instrument by which a person makes a disposition of his property to take effect after his death. It is to be noted that in metro cities like Mumbai, Chennai and Kolkata one needs to apply for probate. Also, sometimes the situations may so arise (we will discuss the situations subsequently), wherein the executor of the Will may have to apply for a probate in other areas as well.   What is a Probate and its importance? In simple language, a probate is nothing but an official proof of a will. The exec...

  Importance of a Will  In the following blog we will discuss the topic Will and its importance in today’s world in very simple terms. The complex issues related to this subject will be discussed in blogs to come. The most certain thing in any individual’s life is death, rest of the things are uncertain. A mere mention of the word ‘Will’ makes many people uncomfortable as the word is associated with death of a loved one. However, in today’s world it is extremely important to make a Will so that your loved ones do not have to face any legal complications and run from pillar-to- post to ensure that they become legal owners of your property after your death.     Who can make a Will?   Every person who is of a sound mind and is not a minor can make a Will.   Here the sound mind means – the testator (person who is making a Will) has a sound mind to understand the disposition of the property in his Will. He must comprehend and have a clear unde...

On a relaxed Sunday morning nearly a fortnight ago, as I was going through my Facebook account, I stumbled upon an advertisement of Avadhut Sathe Trading Academy (fondly called as ASTA by it's students) which had testimonials of some students who had converted a paltry sum of Rs 50,000 into several lakhs in a matter of six to twelve months. As an individual who firmly believes that one cannot become rich overnight, these testimonials were enough to fire my curiosity and I decided to attend the Eye Opener Seminar to find out what all these stock market classes are all about. However, before taking a final decision on attending the seminar, I searched Google for reviews on the Academy, but surprisingly I did not find a single negative review about the Academy. The seminar was held on March 3 at a plush hotel in Navi Mumbai. Mind you they are charging money from the seminar under the head of venue charges (I had to pay Rs 607 (venue charges + convenience fee). The good t...