Preparedness for Inheritance Compliance – “PIC ”

Availees who prefer to undergo document diligence and also undertake risk assessment to understand the risks associated with the propensity of the asset to travel to the designated beneficiary post demise of the asset owner avail this service.

How is it done ? This service includes carrying out all deeds and ancillary acts required for diagnosis and subsequently assessing the risks for categorizing relative risks associated with each specified Indian asset owned by the asset owner. On a simulation pre-supposing sudden demise of the availee with spouse an Interim Asset Status Report is generated which grades each asset in terms of risk ranking i.e. propensity of the asset to migrate to the designated beneficiary in terms of High Risk, Moderate Risk and Low Risk.

• Collecting, evaluating and assessing the status of all Indian assets (movable and immovable assets) and their ownership
• Recording all documented liabilities
• Examine ownership and possession documents of Indian assets and evaluating documentation on liabilities
• Carrying out Risk Assessment for categorizing relative risks as sociated with each specified Indian asset of the Availee
• Present an Interim Asset Status Report (ASR) to Availee. Post the simulation exercise , reporting relative risks (assets wise) with respect to possibility of the specified asset being transmitted to the next beneficiary
• Basis the ASR, the Availee could consult family, tax advisors etc. to address the probable situation and remedial steps to descale the future risks
• Initiate the steps suggested by the availee for descaling the risks associated with each asset in preparedness for the actual death event at any date in future.
• An updated ASR followed by a draft WILL (for discussion purposes only) and then finalising post consultation with Availee

Process Flow

• Agree to avail the Service
• Signing NDA and Making Payment
• Data Collection – USER Consent
• Diagnosis & Confirmation
• Simulation (with terms of existing WILL if any) – Interim ASR
• Risk mitigation directions awaited from Availee
• Simulation – Final ASR
• Draft of WILL (for discussion purposes)
• Signing / (Discretionary) - Registration of WILL

Inheritance Needs – “I – Need”

Availees are members of the bereaved family who are related to the deceased in some manner or the other and who wish to avail this service for carrying out the process of transmission of assets owned by the deceased

The I-Need service is chargeable per PAN card of the deceased. Only one (1) deceased person can be tagged with an email ID and a cell number to provide a unique identification. Hence , for an individual wanting to avail the service for more than one (2) deceased person, the individual needs to register twice , both times with a distinct email ID and a different phone number.

A close interaction post the engagement with the member(s) of the bereaved family enable seek, collate and collect information and data and documents therein relating to the Indian assets owned and possessed by the deceased asset owner.

Basis the documents the process the strategy is adopted depending on whether the deceased asset owner had a WILL (testamentary writing) whereby working closely with the Executor(s) takes center stage. If the deceased asset owner died intestate, then all acts and deeds related to the applicable route under relevant Succession laws need to be followed.

In case the Availee is the surviving spouse , then a draft WILL (testamentary writing) is provided to enable discussion with advisors and family and post interaction with regard to any alteration or modification or addition that may be required for the final WILL (testamentary writing) would be ready for signature of the Availee.

“I – Need” – Inheritance Needs – for bereaved families

Carrying out all related work connected to transfer and transmission of movable and immovable properties (financial and non-financial) assets owned by the deceased family member in the name of legal heirs, close to kin and / other members of beneficiary family of the deceased

Assist the executors in case of existing Will and/or assist the heirs/beneficiaries/ close to kin of the deceased in getting Probate, Letter of Administration , Succession/ Heir Certificate

Process Flow

• Agree to avail the Service
• Signing NDA and Making Payment
• Data Collection – USER Consent
• Diagnosis & Confirmation
• Follow the WILL Executors directions/ pursue Succession / Legal Heirship as per Succession Laws . Enable appoint lawyer for Probate/ Succession proceedings
• Make all correspondence, deeds and representations for all assets owned and possessed by deceased to enable transmission
• Draft of WILL (only for surviving spouse) for discussions & subsequently finalisation