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Clarity
Any ambiguity or uncertainty in the language of the will and specific bequests can render the will or the bequest void.Hence it is important to clearly state all the wishes of the testator so as to avoid any misinterpretation or confusion.
Schedule of property
The testator should make a list of all the property (immovable and movable) that he owns as on the date of making the will. This schedule is appended to the will, making it a part of the will. This ensures that no asset is left out from the scope of the will.
Residuary clause
A residuary clause disposes of such property to a desired person, which has not been expressly bequeathed to anyone in the will. This clause helps bequeath any property that has been missed to be included in the will.
Reasons for disinheritance
If the testator wishes to disinherit a particular close relative from the will, it is a good idea to state the reason for such an action in the will so as to avoid any dispute.
Single copy
It is of prime importance to maintain only a single copy of a will. All older wills must be destroyed. Registration of the latest will supports this cause. Superseding existing will is good practice while making a new will.
Registration of a will ensures safe custo dy of the will and prevents tampering, mutilation or theft of will.
Best Tax Saver Mutual Funds or ELSS Mutual Funds for 2015
1.ICICI Prudential Tax Plan
2.Reliance Tax Saver (ELSS) Fund
3.HDFC TaxSaver
4.DSP BlackRock Tax Saver Fund
5.Religare Tax Plan
6.Franklin India TaxShield
7.Canara Robeco Equity Tax Saver
8.IDFC Tax Advantage (ELSS) Fund
9.Axis Tax Saver Fund
10.BNP Paribas Long Term Equity Fund
You can invest Rs 1,50,000 and Save Tax under Section 80C by investing in Mutual Funds
Invest in Tax Saver Mutual Funds Online -
For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call
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