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| Top 18 Points: How To Make a Will in India / Indian will deed format - 2021 |
1. A legal document expressing the decision of the testator on how their property is to be distributed after their death is called Will. Any individual can express their wishes in their will how they want their assets to be distributed.
2. These assets specified in the will may include all the property of an individual like movable and immovable property, jewelry, bank balance, market shares, mutual funds, etc. Any individual can decide on which ratio they want their assets to be divided among his or her successors.
3. In India, it is not mandatory to register your will. If you write your will on plain paper then, the Court also considers it as a legally valid will. People from any religion, caste, or gender are eligible to make their own will.
4. The following conditions must be fulfilled to make a will;
1. The maker of the will must be 18 years or older.
2. The maker of the will must be of sound mind
3. The will should not be made under the pressure of anyone.
5. It is advisable to make a will when you turn 50, but with employers, it is better to make your will at the time of retirement. Also, where someone is suffering from an incurable disease, they should make their will as soon as possible to make sure your property gets divided in the way you want after any untimely death.
6. You can include the following properties in a will;
1. Any Immovable property registered in your name like a house, shop, flat, land, farmhouse, etc.
2. Any movable property you own like jewelry, bank balance, market shares, mutual funds, and household items like furniture, bed, etc.
3. Any business or any business partnership you own.
7. You can make a will any way you like, as there is no prescribed format provided, but you must provide the following details in your will;
1. Name, father's name, age, and your relationship with the person nominated in your will.
2. It is advised to write your will in your mother tongue and natural hand-writing.
3. You should provide detailed information about your assets and how you want them to get divided among your successors. Incomplete information provided in the will may lead to further complications.
8. In India, it is optional if you want to register your will or not. While some people register their will in the sub-registrar office, others prefer not to register it to avoid the revelation of their illegal assets.
9. It is to be noted that even though you can not change your old will but you can write a new will as many times as you want. You can cancel your first registered will and register a new will in the sub-registrar office.
10. If you ever lost your will, then you can make a new will with a few modifications and mention in the new will that the old will is canceled and this new will apply.
11. Before Making a will you should make your balance sheet, a complete list of your assets and your liabilities, and a list specifying how you want to divide your assets and liabilities among your successors. If you want to divide a single property among multiple people, then you should make a map of the concerned property and specify how you want that property to be divided among your successors.
12. If you buy any property after making your will, then you should add it to your will. Leaving an asset out of your will may lead to a legal argument.
13. If you own a common property or have a partnership in any business, then in your will you can only include the property or business registered on your name and not your partner.
14. After making a will, it is necessary to sign it by two witnesses. These two witnesses must be people you trust to keep your will confidential. If you have decided to not register your will, then it is advised to not make any family member your witness, as it may lead to legal complications.
15. Now in the situation when someone does not make a will because of various reasons it leads to various legal problems for their successors after their death. It becomes very difficult to get the property or any asset present in the bank account of the deceased if they do not make a will. In these situations division of assets is done by the court taking into account Hindu personnel laws or Muslim personnel laws or the Indian Succession Act. This whole procedure is very time taking and expensive.
16. It is necessary to certify a will from the court if it is not pre-registered. A court-certified duplicate copy of the will is called Probate. After the court releases a probate anyone can not challenge a will.
17. If someone dies without making a will, then the court passes an order to divide his property, which is known as a letter of administration.
18. The maker of the will should also mention the name of the person who wants to distribute the assets per the will. This person is known as the executor of the will.
19. People should know the difference between a will and the distribution of property. While you should make a will when you are alive, but never divide your property. You can change a will many times you want and even after making a will you are still the owner of your assets but once you distribute your property, you lose all you own and it cannot be undone. In today's world, many people get cheated by their own families after dividing their property.
This article is written for educational purposes, this is not for any kind of advertisement of the writer.
This article is written for educational purposes, this is not for any kind of advertisement of the writer.