Can someone list down the steps I need to follow in creation of HUF.
My family members:
1. My retired dad. 2. My housewife mom, 3. Myself (Not salaried any more) but has regular passive income/capital gains, 4. My housewife , 5. My son/kid.
1. I want to create a HUF and bring in the assets under individual names into the HUF. I want to know the legal work involved, documents required, whom to approach, or can it be done online.
2. I also want to know in future if my son gets married, my daughter in law gets automatically added to HUF or we have to do it manually? Does she gets any right/access to HUF assets by default or only to my son's individual assets? I don't want to sound pessimistic/negative but am hoping HUF will help to secure the family assets in these days of false cases/accusations (in marriages). Please enlighten me on that front too.
CAclubindia
