Estate Planning
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What is Estate Planning?
NRIs need to give serious thought on estate planning, to ensure that the wealth they have accumulated through a lifetime’s hard work gets transferred smoothly to their heirs. The challenges in estate planning are greater for NRIs since they are likely to have assets in more than one geographic locations: India and the country of their residence.
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Any sound estate plan, therefore, needs to incorporate the following factors:
1. Asset Location
2. Succession law in the country where the asset is located
3. Succession law in their country of residence/ India
4. Religion of the Testator
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