A Snapshot of PV Subramanyam

PV_SubramanyamThe year was 2007… It was a usual day at IRIS, my workplace. I was at my desk completely engrossed in my work. BAM! He entered the cubicle where I was working distracting me with his half/one-sided conversation in Gujarati with someone on the phone. An incurable Gujju money man, I thought. Yes, those were the first words that came to my mind when I saw Subra Sir (PV Subramanyam) for the very first time. I was right… Atleast about the incurable-money-man part :P

Fast-forward to the year 2013… Now we are having those phone conversations (in English mostly :P)… We discuss money, work, family life, work-out routine, food, sugar-addiction, travel, society, attitudes, blah, blah… The list seems endless right now. For all those conversations and so many more to come, thank you Sir.

In this exclusive tête-à-tête, the man who makes smart people richer (http://www.subramoney.com) talks about his first crush, sinful sugar cravings, health vs. wealth and a lot lot more. WARNING! Brace yourselves for some real funny bites because he is the ‘King of Sarcasm’. Also, ignore the part where he mentions future-kids-Gandhidham :P Not happening anytime SOON!

  • If you had just one word to describe yourself, what would it be?

Relaxed…

  • When did your love affair with money start?

Must have been pretty early. My dad’s brother used to give me all his 50 paise coins (with Jawaharlal Nehru’s face on it). All that went into my piggy bank. By the time I was in Class 4, I had more than 1000 coins. I wish I’d known the magic of compounding back then!

  • Being a hard-core cyclist, what is it that you love the most about cycling?

The cold refreshing air hitting your face at 5 a.m. on a winter morning!

  • What is more important – health or wealth?

Ridiculous question. This is like asking a kid, “Who do you like more? Your mother or your father?” It’s a stupid question and should be banned forever.

  • Describe your Sundays.

My Sundays are typically reserved for a long run or a long ride. That’s 5 a.m. to 11 a.m. Then it is a lazy lunch…mostly at home, rarely trying to venture out.

  • What would be your dream holiday location and why?

Ideally a place with some mountains for climbing and a beach – simple Goa, Chiplun, Kovalam types.

I would also love to go tiger watching (preferably alone).

  • What is your favorite book? What was the last book you read?

No favorites. The last book I read was The Crisil Story; I did not like it at all.

  • What is your food heaven and hell?

Anything healthy is heaven. I am trying to go vegan and reduce white sugar usage. Unsuccessful battle so far.

  • Tell me about your first crush.

Orange crush! Mom must have made it for me… :P

  • If you were a biscuit, which would you be?

Bourbon. It’s poison. Eat 200 at a time and you will die. Guaranteed.

  • If I came to your home and looked inside the refrigerator, what would I find?

Vegetables, milk, water bottle for running, tons of daals, grains, etc.

  • Do you have a bucket list?

Naa. If I want something, I get it. Nowadays the things I love are illegal, immoral or fattening. So I refuse to think about those things. But yes looking for loads of grandchildren, including two at Gandhidham ;)

http://poojachopragoel.com/snapshots-interviews-profiles/

Make a Will today

“That is the reason we have deadlines, and deadline extensions. Unfortunately, we think, we have unlimited extensions to plan for the future and safeguard our families’ financial future.”

The following article by me appeared on the website of India Infoline on June 16, 2010.

Creating a Will is one of the most important actions that you can take to secure a comfortable future for your family. Death is inescapable. You should prepare for it! Human beings were born to procrastinate. That is the reason we have deadlines, and deadline extensions. Unfortunately, we think, we have unlimited extensions to plan for the future and safeguard our families’ financial future.

“A Will or testament is a legal declaration by which a person, the testator, names one or more persons to manage his or her estate and provides for the transfer of his or her property at death,” according to Wikipedia. In simpler terms, by making a will you can determine what happens to your property and possessions after his death.

Before you dismiss a Will as tool only for the rich and famous, consider its implications on your financial plan. An advocate by profession and a close friend of mine Advocate Ashwin L. Advani explains, “The purpose of making a Will is to avoid conflict among the legal heirs of the person who is disposing off the property under the Will.” In absence of a Will, the court will to distribute your property according to law and determine the beneficiaries. Here few terms that will help you understand more about Wills:

> Testator: A person making a Will and executing it.
> Legatee /Beneficiary: A person who inherits the property under a Will.
> Probate: A copy of the Will certified under the seal of a court of a competent jurisdiction.
> Executor: The legal representative for all purposes of a deceased person (testator) and all the property of a testator vests in him.
> Codicil: An instrument made in relation to a Will, explaining, altering or adding to its dispositions and is deemed to be a part of the Will.

In India, the law with regard to execution, attestation, revocation and interpretation of Wills is governed by the provisions of the Indian succession Act, 1925 in case of Wills made by Hindus, Sikhs, Jains or Buddhists. Wills made by Muslims are governed largely by Muslim Personal law. The Indian Succession Act, 1925 defines a Will as the legal declaration of the intention of the testator, with respect to his property which he desires to be carried into effect after his death.

A will becomes enforceable only after the death of the testator. It gives absolutely no rights to the legatee until the death of the testator. It has no effect during the lifetime of the testator. The testator can change his will, at any time prior to his death, in any manner he deems fit. Section 63 of the Indian Succession Act, 1925 provides that a Will is liable to be revoked or altered by the maker of it at any time when he is competent to dispose of his property by Will.

After a Will has been properly made in law, the testator may want to make some changes in the Will. He may cancel the entire Will and make a fresh Will incorporating the changes or he may alter only the relevant parts of the Will suitably by way of a Codicil. Such a Codicil forms part and parcel of the existing Will. It is a supplementary document to the Will and cannot be independent by itself. A Will can be registered with the registrar/sub-registrar with a nominal registration fee. The testator must be personally present at the registrar’s office along with witnesses. In India, it is not compulsory to register your Will and non-registration does not affect its validity.

“Although registration is not compulsory, it is very important to register your Will. In today’s world, where every single point needs to be proved before the court of law, it is very easy to challenge the authenticity and accuracy of your Will, after your death. Once a Will is duly registered, it is placed in the safe custody of the Registrar and therefore cannot be tampered with, destroyed, mutilated or stolen,” says Advocate Sana Khan, another friend of mine practicing in the Bombay High Court.

This handy checklist will help you plan ahead and reduce financial stress on family members, in the event of your death.

> Prepare a list of your property and its value
> Choose beneficiaries for your property
> Nominate a guardian for minor children
> Consider whether you wish to leave money to your favorite charity
> Carefully consider the appointment of your executor
> Seek a lawyer to make your Will
> Get your Will registered
> Put the Will in a safe place
> Review your Will periodically

When you don’t make your Will, there are often troubles faced by those left behind. The question of who gets what can lead to tangled legal disputes. By planning ahead you can create the provisions that are right for you and your family. So go ahead, make a Will today!