Joint holding
Market basicsAn account held by two or more people, commonly on an “either or survivor” basis.
In plain terms
The lowest-friction arrangement for a couple — the survivor needs little more than a death certificate.
1492 terms
Glossary
Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.
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Mental capacity
Regulation & taxThe legal ability to understand and take a decision for oneself; its loss removes the power to grant, and generally to continue, an authority to act on one’s behalf.
In plain terms
The case families most expect a power of attorney to cover is the one Indian agency law treats as ending it. Joint holdings and radical simplification, arranged early, do the work a document cannot.