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(NISM)

The National Institute of Securities Markets (NISM) is a public trust established in 2006 by the Securities and Exchange Board of India (SEBI), the regulator of the securities markets in India. The institute carries out a wide range of capacity building activities at various levels aimed at enhancing the quality standards in securities markets.

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Key Takeaways

Context:

Aimed at introducing investors to the importance of succession planning as a core part of estate planning.

Session Highlights:

 

  • Explained that wealth management is not only about accumulation and enhancement, but also about conservation, distribution, and transfer.
  • Clarified that estate planning is a systematic process for distributing one’s estate according to one’s wishes.
  • Highlighted common family- and disability-related concerns that arise when succession planning is ignored.
  • Introduced four essential estate planning documents required for effective planning.
Key Takeaways
  • Succession planning helps ensure that property is transferred according to one’s wishes and reduces the
    risk of family disputes, legal complications, and the unintended application of succession laws.
  • Succession planning helps ensure that property is transferred according to one’s wishes and reduces the
    risk of family disputes, legal complications, and the unintended application of succession laws.
  • Every individual should consider preparing key estate planning documents, such as a Will, a Letter of
    Guardianship, a Springing Durable Financial Power of Attorney, and a Living Will/Advance Health Care
    Power of Attorney.
Recording of Webinar Link

Context:

Aimed at explaining the legal framework governing succession in India.

Session Highlights:

 

  • Explained the meaning of succession and the distinction between testamentary and intestate succession.
  • Clarified that succession laws may vary depending on whether the asset is movable or immovable, and, in some cases, on the domicile of the deceased.
  • Covered religion-based succession laws in India, including the Hindu Succession Act, Muslim personal law, and the Indian Succession Act.
Key Takeaways
  • Succession laws become especially important when a person dies without a Will or other estate planning instrument, as the law then determines how property will pass to legal heirs.
  • In India, succession is influenced by multiple factors, such as the type of asset, the domicile of the deceased, and the personal law applicable to the individual.
  • A Will and related estate planning documents can help reduce uncertainty, avoid unintended outcomes, and provide greater clarity for family members.
Recording of Webinar Link

Context:

Aimed at creating awareness among mutual fund investors about the Indian mutual fund
industry’s share in global markets, how investors can empower themselves using MFU, and a few important tips for the mutual fund investment journey.

Session Highlights:

 

  • Explained how MFU India can be used by investors to make their investing journey simple, efficient, and secure.
  • Demonstrated the process and features of starting an SIP on the MFU platform, along with its benefits.
  • Additionally, emphasized the importance of starting investments early, choosing a secure platform, and periodically monitoring investment performance.
Key Takeaways
  • Investors should start mutual fund investments at an early age, stay invested, and regularly monitor
    their portfolios.
  • Increased awareness of why investors should use MFU and the unique features it offers.
  • Highlighted how the Indian mutual fund industry compares with major global mutual fund industries
    and the opportunity to further deepen and expand the investor base.
Recording of Webinar Link

Context:

Aimed at explaining the role of a Will in estate distribution and succession planning.

Session Highlights:

 

  • Explained the role of a will as a legal declaration of a person’s wishes after death.
  • Covered the legal requirements of a valid will, including capacity, a sound mind, date, signature, property disposition, and attestation by two witnesses.
  • Discussed practical will-planning issues such as executor appointment, nominee versus beneficiary, codicil, probate, revocation, storage, and registration.
Key Takeaways
  • A Will is not merely a document for asset distribution; it is a succession planning tool that helps provide
    clarity, avoid disputes, protects minor children, transfer specific assets, and record the testator’s wishes
    in a legally enforceable manner.
  • Nomination is not a substitute for a Will. A nominee may receive the asset, but beneficial ownership
    may still be governed by succession law or the Will, depending on the nature of the asset and the
    applicable law.
  • Proper execution is critical. The Will should be signed by the testator in the presence of two witnesses.
    The witnesses should sign in each other’s presence, and a beneficiary or the spouse of a beneficiary
    should not be a witness.
Recording of Webinar Link

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