Senior citizens have different needs when it comes to living in a home and if they are planning to buy a home close to their retirement or after it, they must keep their special needs in mind.

People normally invest in annuities, SCSS, etc. to get a decent return for meeting their expenses. However, if you have a residential property, you can rent it out to earn a decent rental income for the rest of your life after retirement.

Money, land, etc., received as gifts from people are taxable in the hands of the receiver, and the Income Tax Act sets the rules for exceptions, eligibility and other considerations.

The need for a senior living property may vary from person to person, however, there are a few important features that make them an attractive option for senior citizens

The Hindu Succession Act classifies heirs into two classes: Class 1 and Class 2, which are immediate and distant heirs, respectively. Without a will, each heir gets a share of the property.

If there is no will after death, there can be several claimants to property, leading to legal disputes. So, instead of waiting for the 'right time', it should be readied with the start of one's career.

Estate planning is a critical aspect of an individual's life as it ensures fair distribution of their assets to the near and dear ones before the person bids farewell from the Earth.

If your children live abroad, you can shift with them, but you must first take care of your properties and belongings in the home country.

A reverse mortgage is a loan, typically obtained by cash-strapped older homeowners, based on the property’s current assumed market value, which they receive in instalments.

Senior living has emerged as a popular housing option for a large number of people, but still, there are several myths which need to be debunked