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I have an HUF consisting of me, my wife, one 23-year-old unmarried son and one 22-year-old unmarried daughter. If I were to partition my HUF today, how many portions would I have to make. I mean would my wife be getting a separate portion? If I were to die, who would become the karta of the HUF, my wife or my son? If I Will my entire portion of HUF to my son and daughter would my wife be getting anything by claim from the HUF?
As per Hindu Law only a coparcener is entitled to ask for a partition of the HUF assets and a non-coparcener member like a wife cannot ask for a partition of HUF assets. So though your wife is not entitled to ask for a partition of the HUF assets but she will get a share equal to that of other coparcener in the HUF assets as and when a partition of the HUF takes place.Â
Under the Hindu Law only a coparcener can become a Karta and after amendment of the Hindu Succession Act in 2005 daughter are also made coparceners. So your son who is the eldest coparcener will become Karta of the HUF after your death. In case your son expresses his unwillingness to become Karta, the daughter can be appointed as Karta of the HUF. Your daughter can remain or be appointed Karta of the HUF even after her marriage. Your wife cannot become Karta of the HUF.Â
As far bequeathing assets in the HUF is concerned, you can only write a will in respect of your share in HUF assets but cannot will away the entire HUF property as you are not absolute owner of the HUF assets. So you can bequeath your share to your son and daughter to the exclusion of your wife.
Balwant Jain is a tax and investment expert and can be reached on jainbalwant@gmail.com and @jainbalwant on Twitter.
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