Seek advice on registered will and mode of asset transfer in case of death before marriage
I am a divorcee man and from my ex-wife, I have a 10 years old daughter who stays with my wife. During divorce, I have given one-time alimony and one-time settlement for child maintenance as well.
Now I am seeing someone with whom I will get married however it will take one more year for me to marry her hence, I want to make sure her life is secured before our marriage itself so that incase I die before marrying her, whatever assets, savings and property I will have, it goes directly to her and not to my daughter or ex-wife. So my queries are -
1. I have a self acquired property in my name and the home loan is still on. Incase of my death, I want this property to go to my fiancée only and not to my daughter or ex-wife. What should I do?
a. Can a " registered will " be enough to transfer the title or ownership from my name to her name?
b. Can this "registered will" be challenged on court by my ex-wife on behalf of my minor daughter or my sister or by my father ?
c. What are the points I should specifically mention in my "registered will" so that it can never be challenged or even if someone challenges it, court will reject the challenge and the property will smoothly transfer to her?
2. I want all my assets (savings account, mutual funds, shares) to be transferred to my fiancée in my absence even when we are not married:
a. Can it also be done through the same "Registered Will" by just mentioning that all my saving and mutual funds of so and so account number should be transferred to her and nothing should go to anyone else?
b. As we are still not married yet, can I do a gift deed to transfer the money of savings accounts, mutual funds to her? Which option is good in this scenario for transferring my savings and mutual funds to her - gift deed or Will because I don't want to give a single penny to anyone else from my family , ex-wife or daughter?
3. Regarding Term insurance -
a. As we are still not married, can I still put her name as nominee on my term insurance? What justification can I put in front of the Insurer if I am asked the reason for my decision of adding her as a nominee?
b. And if I put this information on "Registered will" also that upon my death, insurance company should pay her the insured amount, will it be possible? Or the insurance amount will only go to my blood relatives?
Will appreciate your valuable advice.
Asked 2 years ago in Family Law
Religion: Hindu