When thoughts stampede inside, delve future lies in the past.. ?

To understand self and know future better, a visit to past self with all early dreams, aspirations and motivators -is critical. 

Sometimes, in order to go ahead we need to take several steps backwards. Just as a tiger steps back and crouches to gather strength before making a giant leap, we need to be acquainted with our past and ourselves before making a leap of faith. 

And since we need to lose some things in order to gain other, more precious treasures, it is critical to understand what is worth losing, and the risks that are worth taking. None of this is possible if we are uncertain about what we desire of life. In order to know that, we need to know ourselves and where we come from. Similarly, when we meet a stalemate in life, or a dead-end when we find no indication of where to go next, it helps to travel back in time to where we started off. It is there that we may find again what initially inspired and motivated us. 

What was it that delighted most in our young days? What dream gave wings and lent stars to our eyes? 

What angered us the most and made us want to lash back? And today ­ how far are we from those emotions, those motivators? 

Dreams and unfulfilled aspirations rooted in the past have that power. They keep you going. We all love to talk about what could have, but did not happen. Our regrets over unful filled dreams serve as a fuel to keep us going. The important thing is to remember the dreams. They connect our past to the present, and to a nebulous future. If we have fulfilled all dreams, met all aspirations, and have none other, what will hold us on to life? 

Sometimes a connect with our own past and young dreams can be painful indeed, if we realise how far away we are from what we once considered an ideal life, and that brings about a certain restlessness that disturbs us. But that’s no reason to lead half-lived lives. 

Placing self in the context of our origins helps give an idea of who are we, which helps to understand the veracity and strength of motivators, dreams and ambitions. Without knowing self, cannot move ahead. 

In order to build a worthwhile future, a short visit to our past self is essential…

CIVIL AVIATION & MALAYSIA

Malaysia Airlines is in uncharted territory after the disappearance of Flight MH370 in March with 239 people aboard was followed this week by the downing of another of its jets MH17, carrying 298 people, over Ukraine.

 

 

Before the disasters the carrier had among the worst financial performance of any airline. An even bigger question mark now hangs over the future of Malaysia Airlines, with its brand tied to two almost unfathomable tragedies. Some analysts say the state-owned airline won't survive a year without a substantial cash injection from the Malaysian Government. A bailout would address the airline's immediate financial problems but without far-reaching changes it could remain a burden on taxpayers and shrivel into regional obscurity.

My views on the airline's crisis.

 

 

• How bad is the situation for Malaysian Airlines?

Other airlines have come back from disasters but none have experienced two tragedies of such magnitude within the space of four months. "There's no historical precedent, It's completely not their fault, but right now if you ask any customers would they fly with Malaysia Airlines, they'd just have that negative sentiment of I'd rather choose something else." The airline was already losing about $1.6 million a day and has been in the red for the past three years. The disappearance of Flight 370 with many Chinese passengers on board also caused a backlash in the crucial China market. Experts don't see any short cuts to recovery. "It cannot be a quick fix, So the second question is do they have the financial resources to survive a year, two years? And the answer is, unfortunately, no."

 

 

• Is Malaysia Airlines to blame ?

The airline was blasted for its erratic response to the disappearance of Flight 370 en route to Beijing from Kuala Lumpur. Because the whereabouts of the plane was unknown, Malaysia Airlines had little meaningful information for the families of passengers. Communication of what information it did have was often mishandled, compounding the anguish of relatives. The plane, believed to have crashed far off course in the southern reaches of the Indian Ocean, still hasn't been found. The fate this week of Flight MH17, heading to Kuala Lumpur from Amsterdam, is far more clear-cut. It was shot out of the sky over an area of Ukraine controlled by pro-Russian separatist rebels. "They are a victim this time, so it is very different from a situation where they have no answers. The whole world is going to be sympathetic to them."

 

But another narrative questions why airlines continued to fly over the conflict zone. Some airlines were avoiding it, which involves taking a longer fuel guzzling route, but most were not. Malaysia Airlines may face more scrutiny about its risk management decisions once the initial shock of the tragedy dissipates. "It is unthinkable from a risk management point of view that the plane was flying where it was, Their brand is going to suffer serious damage, There is even a possibility the airline will go out of business."

 

 

• How should Malaysia Airlines handle the latest tragedy?

Clear, consistent and compassionate communications are essential.

"I think their immediate response has been consistent and caring. They are communicating on Twitter and Facebook, they are definitely going out on the commercial media. If they weren't getting the immediate response right, then it just would be the nail in the coffin for them. Being open and transparent, continuing to assist the families of passengers and crew members while also running a punctual and reliable business will help the airline build on the sympathy about its plight. Malaysia Airlines appears to have learned lessons from its halting slowness to react to the MH370 tragedy and is already applying those lessons.

 

• What can the airline do to rebuild it's brand?

The airline needs far reaching changes.

Because of its financial struggles, some analysts had advocated the sale of the state-owned airline to bring in fresh capital, ideas and expertise. Like all international airlines, Malaysia Airlines needs to renew its fleet with modern jets to be competitive, which requires substantial investment. Its capacity to make those investments is further compromised if travelers avoid the airline because of the disasters.

 

 

But the fact remains Malaysians are being tested in a great way. Special prayers, deepest condolences and sympathies to the "Nation of Love". 

WILLS AND CODICIL IN INDIA

                     

• Wills - Introduction

A Will is a document which ensures that your wishes with respect to your assets and property are followed after your death.
There Often arises problems and complications when a person dies without a Will. Yet we put off making a Will, not realizing the predicament we put our family in, after our death. It's a little effort that goes a long way. You will find the answers to the questions you may have had on making your Will, registering it and other relevant information.

• Definitions: A Will is defined as "the legal declaration of the intention of the testator, with respect to his property, which he desires to be carried into effect after his death." In other words, a Will or a Testament means a document made by person whereby he disposes of his property, but such disposal comes into effect only after the death of the testator.

• Codicil is an instrument made in relation to a Will, explaining, altering or adding to its dispositions and is deemed to be a part of the Will.

• Executor is the legal representative for all purposes of a deceased person (testator) and all the property of a testator vests in him.

• Legatee/Beneficiary is a person who inherits the property under a Will.

• Probate is a copy of the Will, certified under the seal of a competent Court.

• Testator is a person making a Will and executing it

• Essential Characteristics

Legal Declaration : The documents purporting to be a Will or a testament must be legal, i.e. in conformity with the law and must be executed by a person legally competent to make it.

Disposition of Property : The declaration should relate to disposition of the property of the person making the Will.

Death of the Testator : The declaration as regards the disposal of the property must be intended to take effect after his death.

Revocability : The essence of every Will is that it is revocable during the lifetime of the testator. People capable of making Wills are, Every person who is :

1. not a minor
2. of sound mind
3. free from fraud, coercion or undue influence

• Forms & Formalities:

Form of a Will : There is no prescribed form of a Will. In order for it to be effective, it needs to be properly signed and attested. The Will must be initialed by the testator at the end of every page and next to any correction and alteration.


Language of a Will : A Will can be written in any language and no technical words need to be used in a Will, however the words used should be clear and unambiguous so that the intention of the testator is reflected in his Will.


Stamp Duty : No stamp duty is required to be paid for executing a Will or a codicil. A Will, therefore, need not be made on stamp paper.


Attestation : A Will must be attested by two witnesses who must witness the testator executing the Will. The witnesses should sign in the presence of each other and in the presence of the testator.


Under Parsi and Christian law, a witness cannot be an executor or legatee. However, according to Hindu Law, a witness can be a legatee. A Muslim is not required to have his Will attested if it is in writing.


Registration : The registration of a document provides evidence that the proper parties had appeared before the registering officers and the latter had attested the same after ascertaining their identity. In India, the registration of Wills is not compulsory even if it relates to immoveable property. The non-registration of a Will does not lead to any inference against the genuineness of a Will. In other words, registration therefore does not give any special sanctity to the Will though registration of the Will by the testator himself evidences the genuineness of the Will.


Whether registered or not, a Will must be proved as duly and validly executed, as required by the Indian Succession Act. Once a Will is registered, it is placed in the safe custody of the Registrar and therefore cannot be tampered with, destroyed, mutilated or stolen.


Procedure for Registration : A Will is to be registered with the registrar/sub-registrar with a nominal registration fee. The testator must be personally present at the registrar’s office along with witnesses.

Revocation & Amendment: A Will can be revoked, changed or altered by the testator at any time when he is competent to dispose of his property. A person can revoke, change or alter his Will by executing a new Will, revoking the earlier Will, registering the new Will (if the old Will is registered), destroying the old Will or by making a codicil. On the marriage of a Parsi or a Christian testator, his/her Will stands revoked, this however does not apply to Hindus, Sikhs, Jains and Buddhists.

Narinder Singh Rao vs Avm Mahinder Singh Rao & Ors - A Will has to be attested by two witnesses to be valid and in case of transfer of Property Will registration is a Must (Supreme court Judgment: 22 March, 2013)

• Codicil:

A codicil is an instrument made in relation to a Will, explaining, altering or adding to its dispositions and is deemed to be a part of the Will. A codicil has to be executed and attested like a Will. A codicil is similar to a Will and is governed by the same rules as a Will.

• Probate & Letters of Administration

Probate: A probate means a copy of the Will, certified under the seal of a competent Court with a grant of administration of the estate to the executor of the testator. It is the official evidence of an executor's authority. A probate is mandatory when the Will is executed by a Hindu, Christian or Parsi in the cities of Mumbai, Calcutta or Chennai, or pertains to immovable property situated in Mumbai, Calcutta or Chennai.

Effect of grant of probates : A probate granted by a competent court is conclusive evidence of the validity of a Will until it is revoked and no evidence can be admitted to impeach it except in a proceeding to revoke the probate. However, it only establishes the legal character of the executor and in no way decides the title or even the existence of the property devised. The grant of the probate decides only the genuineness of the Will and the executors right to represent the estate.
The grant of a probate is conclusive evidence of the testamentary capacity of the person who made the Will.
A probate is conclusive as to the genuineness of the Will and appointment of the executors.
Once a probate is granted, no suit will lie for a declaration that the testator was of unsound mind.
Probate is conclusive as to the representative title of the executor.

To whom probates can be granted : Under the Indian Succession Act, 1925, a probate can be granted only to an executor appointed under a Will. However, it cannot be granted to a minor, a person of unsound mind, or to association of individuals, unless it is a company that satisfies the conditions stipulated by the government.

When a probate can be granted : A probate cannot be granted until the expiration of seven days from the date of the testator's death.

Letters of Administration: In the event a person dies intestate or a Will does not name any executor, an application can be filed in the courts of law for grant of probate.

To whom can a LoA be granted : Under the Indian Succession Act, 1925, a LoA can be granted to any person entitled to the whole or any part of the estate of the deceased person. However, it cannot be granted to a minor, a person of unsound mind, or to association of individuals, unless it is a company that satisfies the conditions stipulated by the government.

When can a LOA be granted : A LoA cannot be granted till the expiration of fourteen days from the date of the testator's death.

Legal Declaration: The documents purporting to be a Will or a testament must be legal, i.e. in conformity with the law and must be executed by a person legally competent to make it.

Disposition of Property: The declaration should relate to disposition of the property of the person making the Will.

Death of the Testator: The declaration as regards the disposal of the property must be intended to take effect after his death.

Revocability: The essence of every Will is that it is revocable during the lifetime of the testator. People capable of making Wills are, Every person who is:

1. not a minor
2. of sound mind
3. free from fraud, coercion or undue influence

• Executors:

An executor is a person who is appointed by a testator to execute his Will. In other words, an executor is duty bound to distribute the assets of the testator as per the provisions of his Will. A probate of a Will is granted only to an executor appointed by the Will.

Who can be an Executor : All persons capable of executing Wills can be executors. Even a minor can be appointed an executor of a Will, but a probate cannot be granted to the minor until he attains majority. A testator can appoint one or more executors. The appointment of an executor may be absolute or for a limited purpose or limited time. An executor as such does not derive any benefit under the Will, unless specifically provided for. However, as an executor has vast powers and the property vests in the executor until it is finally distributed to the legatees, it is therefore advisable to appoint a responsible and accountable person/institution such as a bank as an executor. The Executor is primarily appointed to manage the estate of the deceased for the benefit of the beneficiaries/legatees under the Will.

Legal status of the Executor : The executor is the legal representative for all purposes of a deceased person and all the property of the testator vests in him until the property is distributed as per the provisions of the Will. The executor is entitled to represent the testator in any legal action (not including criminal or defamatory proceedings). For example, an executor can sue for recovery of the testator?s debts. It is only the legal estate of the deceased that vests in the executor and the vesting is not of beneficial interest. The property vests in the executor only for the purpose of representation and administration.

Duties of an Executor :

1. To ascertain the assets of the deceased person.
2. To pay testamentary and funeral expenses.
3. To collect the debts and assets of the deceased.
4. To pay the debts of the deceased.
5. To apply for a Probate, whenever necessary.

• Applicable laws & Special provisions & Applicable Laws in India

The Indian Succession Act, 1925
Hindu Personal Laws
Muslim Personal Laws
The Indian Registration Act, 1908

• Special Provisions

Hindus, Sikhs, Jains and Buddhists :
A Will is not revoked upon the marriage of a Hindu, Sikh, Jain or Buddhists.
The executor can also be the witness to the Will.
A probate is mandatory in the event that a Will is executed in the cities of Mumbai, Calcutta or Chennai, to the extent that the Will pertains to immovable property in Mumbai, Calcutta or Chennai.

Parsis and Christians :
A probate is mandatory in the event that a Will is executed in the cities of Mumbai, Calcutta or Chennai, to the extent that the Will pertains to immovable property in Mumbai, Calcutta or Chennai.
On the marriage of a Parsi or Christian testator, his/her Will stands revoked.

Muslims :Muslim Personal Law governs a Muslim testator's power to make a Will, the nature of the Will, its execution and attestation thereof etc. Under the Muslim Personal Law, a Muslim testator can make a Will orally or in writing and no form is required for such writing. However, it is preferable to have a written Will. If the Will is in writing it need not be attested. It may be noted that the provisions of the Indian Succession Act do not generally apply to a Muslim testator unless specifically stated in the Act.

In India, a person who is a major and of sound mind can make a Will and he can dispose of all or any part of his property by Will. However, there are two basic restrictions on the power of a Muslim testator to make a Will,
A Muslim can bequeath only one-third of his property by Will.
The heirs of a Muslim testator may consent to bequest in excess of one-third of the testator's assets.

A Muslim may change his Will during his lifetime or cancel any legacy. A Will may also become void if a Muslim testator, after making the Will, becomes unsound of mind and continues to be so till his death. Similarly, a bequest which is contingent, or conditional or in the future or is alternative to another, pre-existing one, would be void. If an executor is appointed by a Muslim testator, the powers and duties of the executor will be in accordance with the provisions of the Indian Succession Act which have been discussed elsewhere.

An Overview of Wills under Hindu Law: The origin and growth of Will amongst the Hindus is unknown. However Wills were well known to the Mohammedans and contact with them during the Mohammedan rule, and later on with the European countries, was probably responsible for the practice of substituting informal written or oral testamentary instruments with formal testamentary instruments. The Indian Succession Act, 1925, consolidating the laws of intestate (with certain exceptions) and testamentary succession supersedes the earlier Acts, and is applicable to all the Wills and codicils of Hindus, Buddhists, Sikhs and Jainas throughout India. The Indian Succession Act, 1925, does not govern Mohammedans and they can dispose their property according to Muslim Law...