tata-services-details - Inheritance Needs

Inheritance Related Services

Kindly choose the service after reading the details to meet your requirements

Preparedness for Inheritance Compliance – Regular – “PIC – R”

Retail Price : Rs. 100 Taxes ( currently 18%) : Rs. 18 Total : Rs.118 *

* per PAN (Availee) -payable in advance

PLUS Additional Out- of –pocket expenses (on actuals) to include lawyers Fees for Probate/LOA, Succession, heirship etc., stamping charges, stamp paper costs for Affidavits, Indemnities, notary, Any other registration charges, filing costs and courier etc.

Preparedness for Inheritance Compliance – Regular – “PIC –R”

Availees who wish to commence the process of organising their Indian assets for inheritance during their life time can avail this service.

The scope of this service is limited and does not include running a simulation test to generate an Interim or Final Assets Status Report or in engaging the network of ‘feet on the field’. The desired wish list and requirements of the Availee is considered while drafting a WILL (testamentary writing) to attain a legally compliant WILL which would be executable in the back drop of the state of existing documentation.

This helps the Availee to discuss the same with their 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.

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
Noting and recording the wish list of the client in compliance of Indian laws and statutes
Submitting Draft Will for discussion purposes and then finalising post consultation with Availee

Process Flow

Agreed to avail the Service
Signing NDA and Making Payment
Data Collection – Availee Consent
Receipt Confirmation
Revalidation of documentation
Documenting wishes of Availee
Draft of WILL (for discussion purposes)
Signing / (Discretionary) - Registration of WILL

Avail

Pay With

ICICI BANK OTHER BANKS

Preparedness for Inheritance Compliance – “PIC”

Retail Price : Rs. 47,250 (25% OFF) ~~63,000~~ Taxes (18%) : Rs. 8,505 Total : Rs.55,755 *

* per PAN (Availee) -payable in advance

Note: Additional out of pocket expenses will be applicable on actuals. These may include lawyer fees (for probate/LOA, succession, heirship etc.), stamp paper costs for affidavits, indemnities, notary, registration charges, filing costs, and courier charges etc.

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 the sudden demise of the availee with spouse, an Interim Asset Status Report is generated and 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

Avail

Inheritance Needs – “I – Need”

Retail Price : Rs. 100 Taxes ( currently 18%) : Rs. 18 Total : Rs.118 *

* per PAN (of deceased) -payable in advance

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

Avail

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ICICI BANK OTHER BANKS

Inheritance Related Services

Kindly choose the service after reading the details to meet your requirements

Preparedness for Inheritance Compliance – Regular – “PIC – R”

Preparedness for Inheritance Compliance – Regular – “PIC –R”

Process Flow

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Preparedness for Inheritance Compliance – “PIC”

Preparedness for Inheritance Compliance – “PIC”

Process Flow

Inheritance Needs – “I – Need”

Inheritance Needs – “I – Need”

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

Process Flow

Pay With

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Inheritance Related Services

Kindly choose the service after reading the details to meet your requirements

Preparedness for Inheritance Compliance – Regular – “PIC – R”

Preparedness for Inheritance Compliance – Regular – “PIC –R”

Process Flow

Pay With

Preparedness for Inheritance Compliance – “PIC”

Preparedness for Inheritance Compliance – “PIC”

Process Flow

Inheritance Needs – “I – Need”

Inheritance Needs – “I – Need”

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

Process Flow

Pay With

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