A.K.Agrawal (Investments & Finance) (132 Points)
18 August 2012HUF Karta's wife making her WILL.
After Karta's demise, she will get equal portion from her husband's HUF, which can be mentioned in her WILL.
But in case of partition during Karta's life time, will she get an equal portion in his HUF, enabling her to mention in her WILL?
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 22 August 2012
she can not mention the karta share in her own will untill the karta (husband) is alive,
instead she can mention her 100% share .............( in case demise of karta, the share of karta will be covered under her 100% auto)
A.K.Agrawal
(Investments & Finance)
(132 Points)
Replied 22 August 2012
SHE WANTS TO MENTION HER OWN SHARE DURING WOULD BE PARTITION OF HER HUSBAND'S HUF, DURING HUSBAND,S LIFE TIME.
I MEAN WHETHER A WIFE IS ENTITLED TO RECEIVE AN EQUAL SHARE DURING HER HUSBAND'S HUF PARTITION BETWEEN HUSBAND & THEIR SONS & DAUGHTERS ?
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 22 August 2012
not necessary,
if husband has made another will in favor of other co pancers .........than?
A.K.Agrawal
(Investments & Finance)
(132 Points)
Replied 23 August 2012
Facts & query is different -
1. It is about wifs's share, & NOT husband's share.
2. During husband's life time partition (of his HUF).
3. Whether wife is entitled for an equal share ? (as than that of other members- husband / sons / daughters).
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 23 August 2012
such cases are subject to arbitration, and normally all co pancers of a HUF has equal right in the HUF, however within the lifetime of karta, on whose name the HUF is framed, has right to change the ratio with concent of majority of co pancers, viz if the husband want to reduce the share of wife to 10% from 25%, then if som and daughter signs the same with father, it can be done.( in case of deposits and assets only)
though there is no place for registration of such agreement of shareholding pattern, and it can be easily challanged.
A.K.Agrawal
(Investments & Finance)
(132 Points)
Replied 25 August 2012
1. My original querry is still there. In her husband's HUF, wife is a member & not a coparcener. Hence she can not ask for a parttition. But, following demand by a coparcener, in case of partition in her husband's HUF, during her husband's life time, whether she is entitled for a share ? ( Equal or unequal )
2. Unanimous partition decision is alright. But in my view, majority members can not reduce shares of minority members. What is your opinion ? Can majority mambers reduce minority member's shares to ZERO ?
3. So every member has equal right. Contrary to this would be a surprise for me.
Reply is requested.
Rahul Agrawal
(Tax Consultant)
(25 Points)
Replied 16 February 2014
You Question
"" HUF Karta's wife making her WILL. After Karta's demise, she will get equal portion from her husband's HUF, which can be mentioned in her WILL. But in case of partition during Karta's life time, will she get an equal portion in his HUF, enabling her to mention in her WILL? ""
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Mr. A K Agrawal
In my openion
1. If Karta of HUF died during the survival of karta's wife without making partition of HUF & of-course that HUF cheases to exist after karta's death (i.e. no other co-parcener wants to continue that HUF), than she will get equal portion from her Husband's HUF & she can accordingly plan her will to mention this possibility & likewise apportion her share through her will.
2. If Karta of HUF died during the survival of karta's wife without making partition of HUF, but HUF exists after karta's death (i.e. other co-parcener wants to continue that HUF by becoming Karta of Higher HUF), than she will not get any portion from her Husband's HUF & it will be possible only when this Higher HUF will come to Partition. Thus she can accordingly plan her will to mention this possibility & likewise apportion her share through her will.
3. If Karta of HUF partitioned his HUF in his lifetime than whatever she gets equal or unequal or zero is her share [ depending on the decision of KARTA ONLY, because he can give unequal share even to a coparcener in his delibrate full partition, than the question of just a member's share (karta's or other coparcener's wife is of no value for him) ]. Thus she can accordingly plan her will to mention this possibility & likewise apportion her share through her will.
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