Probate is an official evidence of the Executor’s right to dispose off the property of the Testator as per the terms of the WILL.
Probate is mandatory in case of:
• WILLs by Hindus executed within areas under the jurisdiction of Bombay, Madras and Calcutta High Courts;
• WILLs by Hindus outside these areas if they relate to immovable property situated within the jurisdiction of Bombay, Madras and Calcutta High Courts.
Key Points to be kept in mind:
Currently there is no Inheritance / Estate tax applicable in India. Several countries however, levy Inheritance / Estate tax. In this regard, a NRI shall also have to keep in mind the tax implications and reporting requirements of inheritance in his / her country of Residence.
Further, for your information kindly find below the rates that may be applicable in the US and UK:
Resident / Citizen Remarks (subject to exemptions, reporting, etc. as per the domestic law of the country)
US Estate duty upto approx. 40%
UK Estate duty upto approx. 40%