What is a will?
A will is written by someone who wishes to distribute his/her wealth to his loved ones or family members after his/her demise. Though most of the times, it’s obvious and undisputed that the assests and property go to the spouse or children but some people also give a share to their siblings or relatives or even a friend or favorite house help etc. But in such rare cases, it’s advisable to avoid any disputes and confusion later and have your will made.
For doing so, you need to first make a list of your assets, property and possessions. Then put the name of all the people who will have a right to get your property – beneficiaries. Then, specify who gets what, detailing the amount and all other relevant details.
Process of making a will:
After you draft the will, attest the document in front of 2 witnesses. Then you need to notify your spouse or the closest relative, any attorney or executor. The will must be kept in a safe place so that it cannot be tampered or changed by anyone with any malicious intentions. Registering the will isn’t mandatory in India, however, it’s better to register the will at the sub registrar office, free of cost. Once it is registered, its validity and authenticity cannot be questioned.
Features of a will:
A will must include the following details to be valid:
- The details of the testator – Thename, age, and other details such as the age, relation with the person who is making the will.
- Details of all beneficiaries – In case you want to name more than one beneficiary, your will should have the details of each of them.
- Details of the property/assets – All the details about the properties, possessions and assets to be divided should be mentioned.
- Guardian in case of minors – If you want to pass on your property to a beneficiary who is a minor as of now, then you need to mention and appoint a guardian to take care of the minor’s assets and property till he/she is an adult.
- Executor– The testator needs to appoint an Executor to his/her Will. An Executor is someone who implements the will after the testator’s demise.
- Signature and date – The will should have the date and signature of the testator at the end of the document.
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