Protect Your Property for Your Heirs with These 5 Legal Moves

Take the burden off your family; plan out their future TODAY.

Fights over land and savings can tear kin apart. Secure what you earned with these five simple steps.

Step 1: Draft and File a Clear Will

Why? If you leave no Will, the courts decide who takes what.

How?

• Itemize every asset – house, car, accounts, shares.

• Name who gets each piece and write their share.

• File it at the local sub-registrar for additional strength.

Pro tip: Refresh your Will after big life shifts-weddings, splits, babies.

Step 2: Set Heirs as Nominees or Joint Owners

Why? Nominations allow assets to bypass the courts and queues.

How?

• Regarding land, update the mutation records at the ward office.

• Name heir on forms for bank and share accounts.

• As a backup, add a trusted child or sibling as co-owner.

Caution: Nominee status is not full title; a valid Will still rules.

Step 3: Gift Property Wisely-If It Makes Sense

Why? Handing over assets now cuts arguments later.

How?

• Drafting of the gift deed and its filing before the sub-registrar.

• Pay the stamp duty: rates vary from state to state.

• Make sure the heir moves in or uses the asset to block claims.

Best for: Moms and dads who want to move the family home to the kids while they’re still around.

Step 4: Create a Family Settlement Agreement

Why? It prevents future disputes among heirs.

How?

Discuss in a cool family meeting as to who gets what.

• The agreement should be written out, stamped, and then signed by all parties.

• Register the document to give it legal enforceability in the courts of law.

Example: If siblings decide to share property, document the agreement accordingly.

Step 5: Store Documents Safely & Tell Your Heirs

Why? Missing papers can create legal nightmares for the family.

How? Store the originals in bank lockers or a digital vault.

• Give copies to trusted relatives and your attorney.

• Keep a folder of deeds, tax receipts, loan papers and similar records.