Asset/Wealth division by Parents: What is the right time?In the Indian civil courts, the commonest issues that come to the court docket and stay for a few years are related to property disputes between siblings, martial disaccord and divorce-related cases.
It is a sad state of affairs because siblings who grow up with love and joy become sworn enemies or fight bitterly for the sake of money, land and other assets.They also spend a lot of their valuable time and money (lawyer fees, travel, time off work). We all are familiar with reports wherein the disputes escalate and blood relatives sadly plot and kill their own kith and kin.
A major portion of these issues can be avoided if parents make a legal will or divide their wealth among children when the family is happy. Parents plan to do it when their responsibilities are fulfilled but it gets dragged along with a child's higher education, pending marriage, the arrival of the first grandchild etc.
So, let's hear some views
What would be the ideal time for parents to divide their hard-earned wealth so that they and their children need not fight, and squander part of it in litigation expenses and settling family feuds?