Practice Drills: Structuring a Basic Will and Nomination Plan

A practice-first course for taxpayers with several income sources, freelancers and small business owners, and anyone structuring wealth for the long term. You take four sample Indian households and build their estate plans yourself. First you map every asset, liability and account into a register, then audit the nominations on bank accounts, demat accounts, mutual fund folios, insurance policies, EPF, PPF and NPS, and find where a nominee, a joint holder and a will point to different people. Next you draft the will itself: the distribution schedule, executor and guardian clauses, residuary and contingency clauses, and the execution checklist for witnesses, registration and storage. You then handle the situations that break simple plans: a freelancer's receivables and digital accounts, a business owner's partnership share or private company shares, second marriages, minor children and dependants with special needs. The course closes with three full drills, including fixing a badly drafted sample will. Educational content only, not legal or tax advice.