Friday, September 7, 2012

Digital WILL...

Digital WILL...
Where there's a will, there's less confusion for legal heirs. In fact, this piece of paper outlining the final allocation of one's assets is a crucial step in financial planning. Legally speaking, all you need to do is jot down how you want to pass on your property after death, sign this piece of paper, and get it attested by two independent witnesses, who don't stand to gain from your will.
However, in this golden age of technology, people are no longer settling for a simple penning of wills. Instead, they are increasingly opting for more stylish options, such as video-recorded andonline wills. Says Sandeep Nerlekar, CEO and MD, Warmond Trustees Executors: People have started realising the importance of a will and no longer rely on the simple version. They want to make it safer, so these new variants have cropped up.
However, no matter which option you choose, you need to have a physical copy of the will. This is because India does not have a central agency that recognises digitised signatures, explains Rajesh Gupta, partner at SN Gupta , a leading law firm.
Video-recorded will:In this case, the signing of the will by the testator and the two witnesses is recorded on a video camera. The will has to be prepared before the cameras start rolling; a mere recitation of the document's contents is not accepted.
When the execution process-where the will is duly signed by the trio involved-is recorded, it becomes difficult to question the genuineness of a will. So, getting a probate is comparatively easy, says Richa Karpe, co-founder and ED, Altamount Capital. She adds, Generally, the person who has been left out in the will challenges it on the grounds that it wasn't executed properly. If the process is recorded on camera, this problem won't arise.
A probate is a copy of the will that is certified by a court and can be granted only to the executor appointed by the will. This is mandatory in case there is no will or if there is a problem with the existing one. However, given that a will becomes inviolate after it is probated (that is, nobody can file a law suit against it on the grounds that the testator was of unsound mind), the process is highly recommended by experts in any case.
Incidentally, Video-recorded wills are also accepted by the Indian courts. In October 2009, while deciding a 1985 case seeking the grant of a will, the Delhi High Court had ruled that video recording of a will is a legally admissible evidence.
Succession planning firms typically charge around `5,000 to record the execution of a will. As wills do not require the presence of a lawyer, you can choose to record the process for free on your personal camcorder, but then you'll lose out on a key advantage of using professional firms, namely, safe custody of both your will and the video.
Online will : Several web portals and companies now allow you to make your will online. The making of online wills is picking up as many people do not have the time to sit with a lawyer and discuss the will in detail, says Nerlekar. Warmond Trustees Executors, for instance, has introduced the InstaWILL service, where a customer gives instructions online and receives a customised will on e-mail within a week.
To make an online will, you'll have to register on the website of the company. The portal will give you access to an application, which will help you draft the will. All you need to do is answer the questions and leave the drafting to them. An online will would cost you around Rs 10,000. Many websites abroad, such as the UK-based Q-Will and US-based legacywriter.com, also offer templates from which you can choose the one that suits your needs, while others offer a one-size-fits-all standard template. However, in India, this service has just picked up, so there are not many options in the market.
Once you fill in the relevant details, the service provider will e-mail a draft of your will, which you need to print and sign. You'll subsequently have to get it attested by two witnesses. Some portals like warmond.co.in allow you to store a copy of the will on the Net and make changes without registering afresh. On the other hand, some portals simply allow you to upload and store a scanned copy of the will. This online option works best for someone who is very clear of how he wants to distribute his assets and does not require any guidance. Don't forget that you will still need to keep a physical copy of the will with you.
Digital will :Don't confuse this with the online will. A digital will isn't a process or an alternative to supplement the plain vanilla paper will. It is a special type of will that allow you to pass on your online properties', such as your social networking account or an e-mail account. Just as you make a will for your financial assets, you can make one for your online accounts too, says Nerlekar. This is becoming increasingly important because our accounts contain a lot of private information about us as well as that of our friends and families and, hence, pose a significant threat if hacked.
Most e-mail service providers and social networking companies have death policies that determine what will happen to your account on your death. For instance, Yahoo and Flickr permanently delete all your accounts and their contents on receiving a copy of your death certificate. What if you want to preserve your digital legacy? This is where a digital will comes in. If you leave a digital will, the e-mail service provider will hand over your account details to the person named in the will, says Nerlekar.
Though any law firm can help you make a digital will, you don't necessarily need a lawyer for this process. You can also integrate your digital legacy with a standard will. However, take into account the death policy of your social networking site while drafting the will.
WHAT EVERY WILL SHOULD HAVE?:No matter how you make your will, keep these things in mind:
1. Clearly mention the people to whom you wish to pass on your wealth. Don't use nicknames or incomplete names.
2. If the property is quantifiable, such as cash, mention it clearly.3. Where it cannot be quantified, give a clear description of the property.4. The attesting witness or his spouse should not benefit from the will in any way.5. Appoint an executor for your will. He is a person who will see that your directions are carried out in the manner stated in your will.6. Though it's not mandatory, have a probate for your will. It establishes the legal capacity of the person writing it.




Thursday, August 23, 2012

YOUR CHILDREN ARE WATCHING HOW YOU TREAT YOUR ELDERS

GRANDPA"s Bowl

A  frail  old  man  went  to  live  with  his  son,  daughter-in-law,  and  four- year old grandson. The old man's hands trembled, his eyesight was blurred, and his step faltered. The family ate together at the table. But the  elderly  grandfather's  shaky  hands  and  failing  sight  made  eating difficult.  Peas  rolled off  his  spoon  onto  the  floor.  When  he  grasped, the glass, milk spilled on the tablecloth. The son and daughter-in-law became  irritated  with  the  mess.  "We  must  do  something  about Grandfather,"said the son. "I've had enough of his spilled milk, noisy eating, and food on the floor."


So the husband and wife set a small table in the corner. There, Grandfather ate alone while the rest of the family enjoyed dinner. Since Grandfather had broken a dish or two, his food was served in awooden bowl. When the family glanced in Grandfather's direction, sometimes he had a tear in hiseye as he sat alone. 


Still,  the  only  words  the  couple  had  for  him  were  sharp admonitions when he dropped a fork or spilled food. The four-year-old watched  it  all  in  silence.  One  evening  before supper,  the  father noticed his son playing with wood scraps on the floor. He asked the child sweetly,  "What  are  you  making?"  Just  as  sweetly,  the  boy responded, "Oh, I am making a little bowl for you and Mama to eat your food in when I grow up." The four-year-old smiled and went back to work. The words so struck the parents that they were speechless.Then tears started to stream  down their cheeks. Though no word was spoken,  both  knew  what  must  be  done.  That  evening  the husband took Grand- father's hand and gently led him back to the family table. For the remainder of his days he ate every meal with the family. And for some reason, neither husband nor wife seemed to care any longer when a fork was dropped, milk spilled, or the tablecloth soiled.

Children  are  remarkably  perceptive.  Their  eyes  ever  observe,  their ears  ever  listen,  and  their minds  ever  process  the  messages  they absorb. If they see us patiently provide a happy homeatmosphere for family members, they will imitate that attitude for the rest of their lives. The wiseparent realizes that every day the building blocks are being laid for the child's future. Let's be wise builders and role models.

"Life  is  about  people  connecting  with  people,  and  making  a positive  difference"


"Take  care  of  yourself  and  those  you  love, today and everyday!"
Love & light..............dhruv.

Sunday, August 12, 2012

Old age and Bone mineral density

Bone Density and Exercise

Weight Bearing Exercise Increases Bone Density and Reduces Osteoporosis Risk

By , About.com Guide
Updated August 10, 2011
About.com Health's Disease and Condition content is reviewed by the Medical Review Board
Exercise and Bone Density
In 2009, researchers from the Bone & Joint Injury Prevention & Rehabilitation Center at the University of Michigan reviewed research as far back as 1961 to determine the impact exercise has on bone density and bone health.They found three characteristics of exercise have the largest impact on increased bone density. They are:
  • Strain magnitude of the exercise (This is higher in exercise such as gymnastics and weightlifting where the force or impact of the exercise is greatest).
  • Strain rate of the exercise (This is higher in exercise such as jumping or plyometrics where the rate at which the impact is felt is high).
  • Strain frequency of the exercise (This is higher in exercise such as running, where the impact to the bones occurs frequently during the exercise session).
The magnitude, rate and frequency of the strain during exercise all play a role in developing greater bone density, but the researchers didn't determine which is the most important of the three. They did say that increases in bone density can be had in as little as 12 to 20 minutes of weight-bearing exercise, three days a week.
Evidence also shows that exercise may help build and maintain bone density at any age. Studies have seen bone density increase by doing regular resistance exercises, such as lifting weights, two or three times a week. This type of weight-bearing exercise appears to stimulate bone formation and retain calcium in the bones that are bearing the load. The force of muscles pulling against bones stimulates this bone-building process. So any exercise that places force on a bone will strengthen that bone.

The Best Exercises for Increasing Bone Density

Experts recommend the following forms of exercise for all athletes in order to increase bone density and prevent bone loss:

Cycling, Swimming May Decrease Bone Density

Swimming and bicycling are not considered weight-bearing exercises and aren't usually listed on the list of exercise that increases bone density. In fact, there is some evidence that elite level cyclists actually lose bone density during high intensity training and racing.Several studies, including one in 2008, found lower bone density in elite level cyclists who train for hours on the bicycle.
Researchers are not entirely sure the cause of the bone loss in cyclists, but the current theories include:
  • The non weight-bearing nature of cycling put little strain magnitude (see above) on the bones.
  • Minerals, including calcium, are lost at an enormous rate during hours of sweating.
  • The possible energy imbalance (more calories are used than consumed) during hours of intense exercise.

Preventing Osteopenia and Osteoporosis

Low bone density, referred to as osteopenia, can lead to osteoporosis and a significant risk of bone injury, including stress fractures, and other fractures.

Other Risk Factors for Low Bone Density

Nutrition and Exercise Best for Building Strong Bones

Building and maintaining bone mass requires more than weight-bearing exercise alone. A combination of good nutrition and weight-bearing exercise is the ideal way to build bone mass. Once we reach about age 30, we don't build bone as readily so building adequate bone density early in life is the best way to prevent osteoporosis later. As an adult, the best way to maintain the bone mass is the same way you build it -- getting adequate calcium in your diet and doing weight-bearing exercise.