Should NRIs make separate Wills for assets in different countries?
Importance of a Will:
It is advisable for an NRI to execute a written Will, properly witnessed and registered, to avoid complications in succession and inheritance. A Will ensures that the NRI's property is distributed according to their wishes and prevents disputes.
International Law and Succession:
For an NRI domiciled outside India: Succession to immovable property in India is governed by the Hindu Succession Act (HSA) 1956. Succession to movable property is governed by the law of the foreign domicile.
For a Hindu domiciled in India: Succession to immovable property outside India is governed by the law where the property is located. Succession to movable property outside India is governed by HSA 1956 or the local law of the foreign country. For an NRI domiciled outside India, HSA 1956 does not govern succession to movable and immovable property outside India; instead, the foreign domicile's law applies.
Joint or Composite Will: It is recommended that NRIs to execute a joint or composite Will that covers all their immovable properties across different jurisdictions. This is often more straightforward than having multiple Wills for different properties.
Registration of the Will: Although optional in India, it is advisable to register the Will in every jurisdiction where the NRI holds property. Registration in each country ensures that the Will is recognized and valid in that specific jurisdiction.
Appointment of Executors: NRIs should appoint specific executors to handle the execution of the Will in each jurisdiction where they own property. This simplifies the process for the beneficiaries and ensures that the Will is executed according to local laws.
Compliance with Legal Formalities: For an Indian Will to be valid abroad, it should be attested by a Notary Public, receive an ‘Apostille’ stamp from the Foreign and Commonwealth Office, and a ‘consular’ stamp from the Indian High Commission.
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Importance of a Will:
It is advisable for an NRI to execute a written Will, properly witnessed and registered, to avoid complications in succession and inheritance. A Will ensures that the NRI's property is distributed according to their wishes and prevents disputes.
International Law and Succession:
For an NRI domiciled outside India:
Succession to immovable property in India is governed by the Hindu Succession Act (HSA) 1956.
Succession to movable property is governed by the law of the foreign domicile.
For a Hindu domiciled in India:
Succession to immovable property outside India is governed by the law where the property is located.
Succession to movable property outside India is governed by HSA 1956 or the local law of the foreign country.
For an NRI domiciled outside India, HSA 1956 does not govern succession to movable and immovable property outside India; instead, the foreign domicile's law applies.
Joint or Composite Will: It is recommended that NRIs to execute a joint or composite Will that covers all their immovable properties across different jurisdictions. This is often more straightforward than having multiple Wills for different properties.
Registration of the Will: Although optional in India, it is advisable to register the Will in every jurisdiction where the NRI holds property. Registration in each country ensures that the Will is recognized and valid in that specific jurisdiction.
Appointment of Executors: NRIs should appoint specific executors to handle the execution of the Will in each jurisdiction where they own property. This simplifies the process for the beneficiaries and ensures that the Will is executed according to local laws.
Compliance with Legal Formalities: For an Indian Will to be valid abroad, it should be attested by a Notary Public, receive an ‘Apostille’ stamp from the Foreign and Commonwealth Office, and a ‘consular’ stamp from the Indian High Commission.
Also Read: Major checkpoints for a will