[am1m]

My wife and I sit together every few months and give each other an overview of our updated investments and assets. Was awkward the first few times we did it, but now it's a smooth session. Passwords and online financial account details are also swapped. Since we like to keep things separate, and our investment strategies are very different (good I guess, for diversification) no joint accounts/investments for us.

I had a question about the tax implication of transferring bank deposits. Say I die first (and statistically the chances of that happening are higher), and my wife inherits whatever I have in FDs and MFs, will that be taxed on transfer or only after she gets it? (Thanks in advance for any information!)

Someone on this thread raised a good point about what to do in case both partners unfortunately die in the same mishap, possible, since most couples travel together. Never thought about that (since we don't have kids), but I would like to leave some of my assets to my nephew, but most to a few charities in that case. Will have to speak with a lawyer, I guess.

[DigitalOne]

Originally Posted by am1m

I had a question about the tax implication of transferring bank deposits. Say I die first (and statistically the chances of that happening are higher), and my wife inherits whatever I have in FDs and MFs, will that be taxed on transfer or only after she gets it? (Thanks in advance for any information!)

There is no tax on inheritance in India. FDs may have some complications because of accrued interest till the date of transfer.

Someone on this thread raised a good point about what to do in case both partners unfortunately die in the same mishap, possible, since most couples travel together. Never thought about that (since we don't have kids...

I am in the same situation. These topics are hard to broach with the wife, so just procrastinating .