Society · India
Asset transfer to children: Gift vs. Will for lifetime asset passing
Transferring assets to children during one's lifetime can be achieved through a gift or a Will, each with distinct implications for ownership, access, taxes, and stamp duty. The optimal choice depends on factors such as the children's residency (in India or abroad) and the priority placed on asset protection and flexibility. While real estate offers stability, liquid financial assets are highlighted for providing greater adaptability to future life goals. The decision between a gift and a Will involves considering these varied outcomes for passing on property and investments.
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- Centre (2): Business Today, Mint