Property Transfer to Son (Minor) of 1st Wife
19 Apr 2013, 15:33
Hi Experts,
I am in a rare situation.My first wife expired and with her i have a son (Minor).
During that period we have purchased some property.After that I got married.My 2nd wife is not taking care of my son and me.I do not have any kids with 2nd wife.
My Query is : How can i transfer all my Property to my Minor son for his future .Even later period if Divorce happens it should not impact / distribution of property and should be owned by my son
Is the Gift Deed will work or Do i need to do registration to different person and from there it goes to son etc
Please help.
2 Replies
Your son can inherit you self earned income through your will irrespective of divorce or no divorce. for the benefit of your minor son you can private trust and assign the property to it and make your son beneficiary. Upon his attaining his majority he would become the complete owner of the said property, but I have question if your son becomes like your present who will take care of you?
it is enough to execute a settlement/Gift deed in favour of your minor son. it will be not affected by the outcome of divorce petition, if filed by your 2nd wife.