TIPS FOR VETERANS AS WERE HOSTED ON THIS WEBSITE EARLIER.
YOUR PPF ACCOUNTS - NOMINATIONS
IT IS OUR ENDEAVOUR TO PERIODICALLY PLACE HERE IMPORTANT SUBJECTS FOR THE VETERANS NOT ONLY FOR THEIR INFORMATION BUT ALSO FOR THEIR IMMEDIATE ACTIONS.
WE HAD EARLIER GIVEN TIPS ASSETS REGISTER AND NOW A TIP ON PPF ACCTS PUBLISHED, HAVING NOMINATIONS IN PPF ACCOUNTS IS MORE THAN SPECIAL. DO UNDERSTAND IN CASE YOU HAVE NOMINATED YOUR RELATIONS WITH PERCENTAGES FOR EACH.
DO CHECK WITH YOUR BANK AND POST OFFICE TODAY WHETHER THEY HAVE RECORD OF NOMINATION ON PPF OR NOT.
IF EVER REQUIRED THE APPLICATION FORM (FORM-'G') FOR CLAIM BY THE NOMINEE OR LEGAL HEIRS BE DOWLOADED FROM HERE (CLICK TO ACCESS).
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YOUR PPF ACCOUNTS - NOMINATIONS
IT IS OUR ENDEAVOUR TO PERIODICALLY PLACE HERE IMPORTANT SUBJECTS FOR THE VETERANS NOT ONLY FOR THEIR INFORMATION BUT ALSO FOR THEIR IMMEDIATE ACTIONS.
WE HAD EARLIER GIVEN TIPS ASSETS REGISTER AND NOW A TIP ON PPF ACCTS PUBLISHED, HAVING NOMINATIONS IN PPF ACCOUNTS IS MORE THAN SPECIAL. DO UNDERSTAND IN CASE YOU HAVE NOMINATED YOUR RELATIONS WITH PERCENTAGES FOR EACH.
DO CHECK WITH YOUR BANK AND POST OFFICE TODAY WHETHER THEY HAVE RECORD OF NOMINATION ON PPF OR NOT.
Nomination in PPF
On the death of a PPF subscriber the balance in the PPF account is paid on demand to his nominee or successor. However, the balance, if not withdrawn, continues to earn tax-free interest. No partial withdrawals are permitted. It is risky for the nominee to continue the account because the nominee cannot appoint a nominee. Hence the nominee must understand this and we should make it a point to brief him.
In the case of joint nominees, PPF rules allow allocating a percentage of benefits against each nominee. But the form does not provide a specific place to indicate the same and therefore, many fail to indicate the percentages.
In that case, the nominees are treated as joint holders and have to apply together for the closure. Each nominee is required to identify himself to the satisfaction of the concerned officer. After completing all the formalities, a single cheque is issued in favour of all of them together. This cannot be encashed, unless all the nominees have a joint account. If no nomination is in force, the balance will be paid to the legal heirs on production of the succession certificate or probate. In India, it takes an enormous time, money, and energy to obtain this.
To mitigate hardships, a balance up to Rs 1 lakh only may be paid to legal heirs on applying in Form-G along with a letter of indemnity, an affidavit, a letter of disclaimer on affidavit and a death certificate pending succession proceeding sin the court which may take years even if undisputed/unchallenged.
THE FORMS REQUIRED FOR NOMINATION ARE AVAILABLE IN VETERANS LIBRARY IN THIS SITE WHICH MAY BE DOWNLOADED BY CLICKING HERE . IF EVER REQUIRED THE APPLICATION FORM (FORM-'G') FOR CLAIM BY THE NOMINEE OR LEGAL HEIRS BE DOWLOADED FROM HERE (CLICK TO ACCESS).
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MAKE YOUR ASSETS REGISTER
IT IS OUR ENDEAVOUR TO PERIODICALLY PLACE HERE IMPORTANT SUBJECTS FOR THE VETERANS NOT ONLY FOR THEIR INFORMATION BUT ALSO FOR THEIR IMMEDIATE ACTION.
WE HAD EARLIER GIVEN DETAILS ON "NOMINATION IN BANKS ETC" ON WHICH WE RECEIVED A VERY GOOD FEED BACK FROM OUR READERS. THIS WEEK WE BRING TO YOU ANOTHER IMPORTANT SUBJECT NAMED "YOUR ASSETS REGISTER".
THE SUBJECT DOCUMENT IN PDF FORMAT PLACED IN THE EMBEDDED WINDOW BELOW HIGHLIGHTS THE IMPORTANCE OF MAKING AN ASSETS REGISTER WRITTEN BY AN EMINENT LAWYER FEW WEEKS BACK. IT ALSO CONTAINS A CASE STUDY WHICH IS A MUST READ NOT ONLY BY THE VETERANS BUT ALSO THEIR CHILDREN IN WHAT EVER LIFE STAGE THEY MAY BE.
WE HAVE ALSO BEEN GIFTED A SAMPLE FORMAT OF THE ASSETS REGISTER, ONE CAN HAVE THE PAGES PRINTED AND START FILLING IN THE BLANKS. THE WINDOW CAN BE SCROLLED WITH THE MOVEMENT OF YOUR CLICKED MOUSE. THIS WINDOW CAN ALSO BE OPENED/EXPANDED FULL SCREEN BY CLICKING ON THE BOTTOM RIGHT EXPAND ICON ON THIS WINDOW. THE ENTIRE DOCUMENT RATHER THE BOOKLET WILL OPEN FOR YOU FOR YOUR DOWNLOAD OR PRINTING.
TIME IS NOW - PLEASE DO NOT WAIT TILL THE FALL OF THE NIGHT EVEN..
CLICK HERE TO READ FULL DETAILS
MAY WE REQUEST VETERANS FROM ALL ARMS TO KINDLY DO CONTRIBUTE YOUR IDEAS ON SUBJECTS SO THAT THE LARGER COMMUNITY CAN DRAW ADVANTAGE FROM YOU.
BRIG NARINDER DHAND (VETERAN)
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IT IS OUR ENDEAVOUR TO PERIODICALLY PLACE HERE IMPORTANT SUBJECTS FOR THE VETERANS NOT ONLY FOR THEIR INFORMATION BUT ALSO FOR THEIR IMMEDIATE ACTION.
WE HAD EARLIER GIVEN DETAILS ON "NOMINATION IN BANKS ETC" ON WHICH WE RECEIVED A VERY GOOD FEED BACK FROM OUR READERS. THIS WEEK WE BRING TO YOU ANOTHER IMPORTANT SUBJECT NAMED "YOUR ASSETS REGISTER".
THE SUBJECT DOCUMENT IN PDF FORMAT PLACED IN THE EMBEDDED WINDOW BELOW HIGHLIGHTS THE IMPORTANCE OF MAKING AN ASSETS REGISTER WRITTEN BY AN EMINENT LAWYER FEW WEEKS BACK. IT ALSO CONTAINS A CASE STUDY WHICH IS A MUST READ NOT ONLY BY THE VETERANS BUT ALSO THEIR CHILDREN IN WHAT EVER LIFE STAGE THEY MAY BE.
WE HAVE ALSO BEEN GIFTED A SAMPLE FORMAT OF THE ASSETS REGISTER, ONE CAN HAVE THE PAGES PRINTED AND START FILLING IN THE BLANKS. THE WINDOW CAN BE SCROLLED WITH THE MOVEMENT OF YOUR CLICKED MOUSE. THIS WINDOW CAN ALSO BE OPENED/EXPANDED FULL SCREEN BY CLICKING ON THE BOTTOM RIGHT EXPAND ICON ON THIS WINDOW. THE ENTIRE DOCUMENT RATHER THE BOOKLET WILL OPEN FOR YOU FOR YOUR DOWNLOAD OR PRINTING.
TIME IS NOW - PLEASE DO NOT WAIT TILL THE FALL OF THE NIGHT EVEN..
CLICK HERE TO READ FULL DETAILS
MAY WE REQUEST VETERANS FROM ALL ARMS TO KINDLY DO CONTRIBUTE YOUR IDEAS ON SUBJECTS SO THAT THE LARGER COMMUNITY CAN DRAW ADVANTAGE FROM YOU.
BRIG NARINDER DHAND (VETERAN)
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SUCCESSION PLANNING FOR WOMEN - A MUST
IT HAS BEEN OUR ENDEAVOUR TO PERIODICALLY PLACE HERE IMPORTANT SUBJECTS FOR THE VETERANS NOT ONLY FOR THEIR INFORMATION BUT ALSO FOR THEIR IMMEDIATE ACTIONS.
WE NOW BRING OUT THE NEED FOR SUCCESSION PLANNING FOR WOMEN SPECIALLY DAUGHTERS. IT STILL BECOMES MORE IMPPORTANT IN CASE YOU HAVE PARKED SOME OF YOUR FUNDS ON YOUR MARRIED DAUGHTER'S NAME.
. Because none of us have many years to live, and we can't take along anything when we go, so we don't have to be too thrifty.
. Spend the money that should be spent, enjoy what should be enjoyed, donate what you are able to donate, but don't leave all to your children or grandchildren, for you don't want them to become parasites who are waiting for the day you will die!!
. DON'T WORRY about what will happen after we are gone,because when we return to dust, we will feel nothing about praises or criticisms. The time to enjoy the worldly life and your hard earned wealth will be over!
. DON'T WORRY too much about your children, for children will have their own destiny and should find their own way. Don't be your children's slave. Care for them, love them, give them gifts but also enjoy your money while you can. Life should have more to it than working from the cradle to the grave!!
. DON'T EXPECT much from your children. Caring children, though caring, would be too busy with their jobs and commitments to render much help. Help your children when they are in dire needs but do not lose your independence for their convenience.
. Uncaring children may fight over your assets even when you are still alive, and wish for your early demise so they can inherit your properties and wealth.
. Your children take for granted that they are rightful heirs to your wealth; but that you have no claims to their money.
* REMEMBER NEVER LOSE CONTROL ON YOUR ASSETS BOTH MOVEABLE AND IMMOVEABLE. If you do so out of Moh and Maya you are likely to be on road side or left to rot in old age home.
. 50-year olds, don't trade in - your health for wealth, by working yourself to an early grave anymore. Because your money may not be able to buy your health.
. When to stop making money, and how much is enough? (A HUNDRED thousand, One million,ten million,One billion)?
. Out of thousand hectares of good farm land, you can consume only three quarts (of rice) daily; out of a thousand mansions, you only need eight square meters of space to rest at night.
. So, as long as you have enough food and money to spend, that is good enough. You should live happily. Every family has its own problems.
. Just DO NOT COMPARE with others for fame and social status and see whose children are doing better etc., but challenge others for happiness, health, enjoyment, quality of life and longevity.
. DON'T WORRY about things that you can't change because it doesn't help and it may spoil your health.
. You have to create your own well-being and find your own place of happiness.
. As long as you are in good mood and good health, think about happy things, do happy things daily and have fun in doing, then you will pass your time happily every day.
. One day passes WITHOUT happiness, you will lose one day.
. One day passes WITH happiness and then you gain one day.
. In good spirit, sickness will cure;
In a happy spirit, sickness will cure faster;
In high and happy spirits, sickness will never come.
. With good mood, suitable amount of exercise, always in the sun, variety of foods, reasonable amount of vitamin and mineral intake, hopefully you will live another 20 or 30 years of healthy life of pleasure.
- ABOVE ALL -
. Learn to cherish the goodness around... and FRIENDS........... They all make you feel young and "wanted"... without them you are surely to feel lost !!
Wishing you all the best for the years to come.
Please share this with all your friends who are 50 plus and those who will be 50 plus after some time and also with your children.
BRIG NARINDER DHAND (VETERAN)
IT HAS BEEN OUR ENDEAVOUR TO PERIODICALLY PLACE HERE IMPORTANT SUBJECTS FOR THE VETERANS NOT ONLY FOR THEIR INFORMATION BUT ALSO FOR THEIR IMMEDIATE ACTIONS.
WE NOW BRING OUT THE NEED FOR SUCCESSION PLANNING FOR WOMEN SPECIALLY DAUGHTERS. IT STILL BECOMES MORE IMPPORTANT IN CASE YOU HAVE PARKED SOME OF YOUR FUNDS ON YOUR MARRIED DAUGHTER'S NAME.
SUCCESSION IN CASE OF WOMEN
On the death of a married women it must be known that her parents do not figure any where in the succession chain as per Indian law. There have been cases where parents having only girl child parked their assets with their married daughter and lost every thing on sudden demise of their daughter.
Please read on (CLICK HERE TO ACCESS THE DOCUMENT) ------
***************Please read on (CLICK HERE TO ACCESS THE DOCUMENT) ------
VERY SOUND & TIMELY ADVICE TO ALL OF US... THE SENIOR CITIZEN
. Because none of us have many years to live, and we can't take along anything when we go, so we don't have to be too thrifty.
. Spend the money that should be spent, enjoy what should be enjoyed, donate what you are able to donate, but don't leave all to your children or grandchildren, for you don't want them to become parasites who are waiting for the day you will die!!
. DON'T WORRY about what will happen after we are gone,because when we return to dust, we will feel nothing about praises or criticisms. The time to enjoy the worldly life and your hard earned wealth will be over!
. DON'T WORRY too much about your children, for children will have their own destiny and should find their own way. Don't be your children's slave. Care for them, love them, give them gifts but also enjoy your money while you can. Life should have more to it than working from the cradle to the grave!!
. DON'T EXPECT much from your children. Caring children, though caring, would be too busy with their jobs and commitments to render much help. Help your children when they are in dire needs but do not lose your independence for their convenience.
. Uncaring children may fight over your assets even when you are still alive, and wish for your early demise so they can inherit your properties and wealth.
. Your children take for granted that they are rightful heirs to your wealth; but that you have no claims to their money.
* REMEMBER NEVER LOSE CONTROL ON YOUR ASSETS BOTH MOVEABLE AND IMMOVEABLE. If you do so out of Moh and Maya you are likely to be on road side or left to rot in old age home.
. 50-year olds, don't trade in - your health for wealth, by working yourself to an early grave anymore. Because your money may not be able to buy your health.
. When to stop making money, and how much is enough? (A HUNDRED thousand, One million,ten million,One billion)?
. Out of thousand hectares of good farm land, you can consume only three quarts (of rice) daily; out of a thousand mansions, you only need eight square meters of space to rest at night.
. So, as long as you have enough food and money to spend, that is good enough. You should live happily. Every family has its own problems.
. Just DO NOT COMPARE with others for fame and social status and see whose children are doing better etc., but challenge others for happiness, health, enjoyment, quality of life and longevity.
. DON'T WORRY about things that you can't change because it doesn't help and it may spoil your health.
. You have to create your own well-being and find your own place of happiness.
. As long as you are in good mood and good health, think about happy things, do happy things daily and have fun in doing, then you will pass your time happily every day.
. One day passes WITHOUT happiness, you will lose one day.
. One day passes WITH happiness and then you gain one day.
. In good spirit, sickness will cure;
In a happy spirit, sickness will cure faster;
In high and happy spirits, sickness will never come.
. With good mood, suitable amount of exercise, always in the sun, variety of foods, reasonable amount of vitamin and mineral intake, hopefully you will live another 20 or 30 years of healthy life of pleasure.
- ABOVE ALL -
. Learn to cherish the goodness around... and FRIENDS........... They all make you feel young and "wanted"... without them you are surely to feel lost !!
Wishing you all the best for the years to come.
Please share this with all your friends who are 50 plus and those who will be 50 plus after some time and also with your children.
BRIG NARINDER DHAND (VETERAN)
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