Estate Planning And Release Of Shares By Sisters In Favour Of Mother And Brother | Vkeel - Free Legal Advice

*******N

Mumbai

Have a query on succession / WILL - A businessman died few years back leaving wife, 2 daughters n 1 son..intested/ without proper WILL Now the son has taken over reigns of business. Fly decides mutually to disburse a sum of 2 cr to each daughter in lieu of daughter's right in parents ( deceased Dad n alive mom ) estates...so what type of settlement deed one sd make to get job done. Release deed / family settlement or any other documents to safeguard fly ( son's interest )in future from any eventualities.. and also the cost involved. a simple affidavit on stamp paper ( 100/500 ) from sister's vl do !! ( affidavit declaring that sum of Rs 2 crores paid to each sister towards full n final settlement in parents estate..nothing further payable ...)duly notarised or any other deed one need to prepare...(fly prefers simple documentation with no much nitty gritty n minimal costs ) (Alive mother WILL prepared n duly regd stating that daughters been married n well settled n taken care-o

Expert's Answers(3)

Advocate Ankur Goel
Bangalore, Karnataka

7 Client Ratings

a simple affidavit on stamp paper*Phone*from sister's will do and your sisters will love to do it because it have no value. The Settlement deed have to proper when you are giving so much money to them.

July 16, 2021
xxxxx cxxxxx
Bengaluru, Karnataka

184 Client Ratings

Dear Sir, It attracts stamp duty as per State Stamp Act. Please contact local Sub-Registrar office to have full first hand information. Please give me rank after viewing my details. Please call me for further assistance.

July 16, 2021
Advocate Anik
Bengaluru, Karnataka

66 Client Ratings

Hi, A proper release deed has to be prepared and signed by all the parties. The deed needs to be prepared by paying the proper stamp duty to give it legality. If you like my answer, please rate me.

July 15, 2021