8 Court Rules Which Impacts Your Finances


7) Nominee, Not Heir, Inherits Shares

If your are holding a company share and due to some mishap you die then the heirs of your Will, who could be your children or your wife will  have no right over your shares as per the provisions of the Companies Act. The nominee of your shares will legally inherit them after your death, even if you named someone else in your Will. This is a significant ruling, wherein the provisions of the Companies Act override the legality of your Will.

8) Only Blood Relations Can Be Heirs

If before dying you did not make a Will and after your death when the law of succession takes place then your property will be divided among the heirs who have full blood relation you and your stepsons would be prohibited from having the a son's property rights under the Hindu Succession Act. On the other hand, if your will has been left behind, your property will be divided according to it irrespective of the relations you shared with the beneficiaries.