INCOME TAX15 Sept 2026
India’s incapacity law gap: why estate planning must go beyond wills | Mint
India still has no full law to manage your money and property if you lose mental capacity. With about 8.8 million seniors living with dementia, families often wait months in court for guardianship. A private family trust keeps working without a break, because a trustee can still pay bills. Add a living will and a Mental Healthcare Act nomination for a safer plan.
Key Statutory Highlights
- India has no comprehensive law for managing a person's finances and property after they lose mental capacity.
- About 8.8 million Indians aged 60 and above live with dementia, and families currently depend on court-appointed guardianship, which can take months.
- A private family trust keeps running during incapacity because the assets belong to the trust and the trustee can keep paying hospitals and caregivers.
Actionable Advice for Taxpayers / Founders:If you have ageing parents or significant assets, speak to a will and estate planning professional about whether a private trust with an incapacity clause, a living will and a Mental Healthcare Act nomination suit your family. Treat this as a planning discussion, not a guaranteed legal fix.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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