New Delhi, Feb. 24 -- I have listed shares and fixed deposits with a few banks in my HUF account. I have two sons and a daughter. All are married. After my death, how will the HUF assets be transferred to my son? Or should I dissolve my HUF now and distribute all the assets among my sons?

HUF is a distinct legal entity and can own property in its name. Thus, the property held by a HUF does not absolutely belong to you but to all the members of the HUF. Before the Hindu Succession Act, 1956 amendment, in 2005, the daughters were not treated as coparceners. However, with the amendment of Section 6 of the Hindu Succession Act, 1956, the daughters are now treated as coparceners and have equal rights in the HUF property as those of sons. She ...