How to write a will in India?
Having a legal Will is very important because nobody wants to leave their wealth without making anyone its nominee and let all their loved ones fight with one another for getting the shares. It is very important to create the will in order to distribute the wealth in a proper manner by ensuring that everything is following the law and only a person who has been nominated for a particular thing will be able to have it otherwise it won’t be passed to them.
Defining A Basic Rules of Will:
- Anyone whose age is above 21 years can make a will in India. You can use a plain paper for making the will and it is not always necessary to do it on the stamp paper. It is always advised to make the will by using your handwriting because it will help in removing any sort of doubt and can be utilized for verification in the later stages if any of your relatives are finding some authenticity error.
- If you want to leave your belongings to a particular someone or you want to divide the wealth among your family or assign it to your close friend you will be needing a will for doing it. Most of the people are failing to create the right will because they find that making the will is quite morbid.
What is the importance of making a will in India?
If you have stepped into the financial life then making a will should be the first step. If the family structure of a person is diverse and they want to leave their belongings or wealth to their family members then they will have to add it to the will today instead of waiting for tomorrow or later.
What happens if person dies without will
- If a person dies without preparing the will in India then their wealth will get distributed among the people by following the Law Of Hindu Succession. Most of the people are having the misconception that after the death of the owner the estate will get automatically passed to the children or spouse, but in many cases, other people may also claim for the property. The Law Of Succession And Inheritance is quite complicated and very diverse and is also different among Muslims and Hindus.
If you are being lazy when it comes to making the will then you are creating a lot of problems for your family members in the upcoming future. If there is any dispute among the family members they will need to provide the proof regarding their relationship with you or they will have to hire a lawyer and drain a lot of energy and money for claiming the property. Making of will is going to save you from a lot of unnecessary headaches.
How to make a will in India?
A will consists of several parts and when it is following all the rules then it will together make a complete will. For making a will there’s no particular legal and defined format, but it does have a template that is being used for several ages now. The template is quite simple and logical, so you can utilize your common sense to understand the will.
If you are unable to create the will by yourself then you should definitely ask for someone’s help who have some knowledge regarding the laws and have previously made their own will. Let’s see what are the steps that you will need to perform in order to create a complete will.
Declaration: For making the will in the first paragraph one will have to declare that they are making the will without getting pressure from anyone and they are in the full senses. They will have to mention their name along with age, address and other vital information during the time of making the will. In this way, it is very easy to confirm that the person is in their senses while making the will.
Information related to documents and property: In the next process you will need to provide all the names of the items along with the current value like land, house, postal investments, share certificates, mutual funds or bank deposits that you are owning currently. You will also have to indicate whether you are storing all these documents and whether they are in the safe deposit of bank. You should store the will in that place. You will have to ensure that you need to provide the details of the bank manager and make sure that you are aware of the rules and procedure that a person needs to implement for getting the will safely from the bank after their death. You should tell this to the family member or the executor of your will.
Ownership: In the will, you will have to mention the proportion of the assets or item that you will be assigned to people after your death. If you are writing the will and providing the asset to anyone who is minor, then you will have to mention their custodian who will keep the asset until the minor is reaching their adult age. It is very important to pick someone who is trustworthy for making the custodian.
Will signing: When you will be signing the will, you will have to keep two witnesses present in that place. In this way, you will be providing the signature and certifying that the sign has been made in the presence of witnesses and it must indicate the place and date properly at the will’s bottom. The witness and the person making the will have to sign on all the pages and always pick a witness who is your neighbour, colleague, friend and is not any direct beneficiaries of the will. After completion the will have to be sealed with the envelope by keeping in mind all the formalities with the date and signature. The witness will not have to sign the envelope while sealing.
Last : Execution of the will in court
When you will be making the will, you will need an executor who will be taking all the responsibilities after your dying. That person will be distributing the wealth among all the beneficiaries and will ensure that the entire process has been carried on smoothly. It is not always required to legally execute the will. If you want then you can definitely execute it in presence of the magistrate or any public notary or any government authority.