NRIs and the curious case of inheritance

Gautam, an IT professional in California with a flourishing career, had only one qualm in life — his septuagenarian mother never agreed to move countries. She was not comfortable leaving her house and staying away from relatives and friends. But her body was slowly giving up, and eventually, she passed away, leaving behind her beloved house and a lot more. Gautam had to fly for more than 24 hours to see his mother for one last time.

Day-by-day reality

Day 1: As soon as he lands, Gautam has to rush for the last rites, and after one of the longest days of his life, he just wants to crash in. But there are relatives in the house, and they want to know what caused his mother's death.

Day 2: Gautam thinks about his mother, childhood, and the house. He has to arrange for rituals. Meanwhile, someone asks what his plans are for the house, and it strikes him he needs to figure that out too.

Day 3: Gautam explores his mother's drawers looking for property papers and bank details. He calls the bank to inform them about her demise and asks for the next steps, nominees, etc.

Day 5: Trip to the bank, a lawyer, and the local municipality to figure out the succession procedure. Gautam, who is too used to smart solutions in the US, realises he will need to become Gautam Buddha to deal with the Indian system.

Day 7: Gautam wonders if his suitcase would be enough to pack in all the memories he has had in this house. He had no reason to come back to India anymore. But what about this house and whatever little asset his parents had acquired over the years?

Plan ahead

Gautam's story is the reality in many Indian households. If you are an NRI who has aged parents in India, you need to talk to them about their assets. They can choose to give away their properties or savings to you or anyone else, but they must let you know about it all or have a portfolio that helps you do the needful in their absence.