Inheritance can be cumbersome for NRIs; Here’s what you can do

first_imgAn individual, whether a Resident or a Non-resident, can devolve his assets to his legal heirs or to any one of his choice via a Will. On demise of an individual when an asset is transferred to his legal heirs or if he has created a Will, then it is called devolution of an asset. The person who receives the said asset is called inheritor and the process is called inheritance.Inheritance via a Will or Intestate succession:Let’s see what happens when Indian Parent leaves behind certain assets for his NRI child. Now, if he leaves these assets without writing a Will (which means he dies intestate) then the child will have to obtain succession certificate from the Indian Courts. This involves submitting documents to the court such as death certificate of the departed, birth certificate of the successor. Property purchase and registration documents, etc. NRIs should be prepared to spend some time in India as presence is normally required and helpful for clearing matters of property inheritance. If his parent has executed a Will, then the child will have to apply to the court for Probate.Read it at Money Control Related Itemslast_img