According to the law, any person who has a sound mind and who is not a minor can make a will.
A person can specify how they want their possessions and assets to be allocated after they pass away in a will, a legal document. The benefits of writing a will include protecting one’s legal successors’ rights and avoiding conflicts over property.
What is a will?
A person can specify how they want their assets and liabilities maintained, as well as how they want their property transferred or dispersed among their beneficiaries, in a legal document known as a last will and testament. The terms of the Indian Succession Act, 1925 apply to a will written by a Hindu, Buddhist, Sikh, or Jain.
Terms related to a will
- Testator:The person who makes a will is the testator.
- Executor:The person(s) named in the will to manage and handle the distribution of assets refer to the executor.
- Beneficiary/legatee:The person(s) or organisations to whom the assets are bequeathed referred to as the beneficiary or legatee.
- Intestate:An individual who dies without a valid will.
- Probate:Will copy obtained, which is certified and sealed by a competent court of law.
- Administrator:A person who manages the division of the deceased person’s assets if there is no will.
Terms related to a will
- Testator:The person who makes a will is the testator.
- Executor:The person(s) named in the will to manage and handle the distribution of assets refer to the executor.
- Beneficiary/legatee:The person(s) or organisations to whom the assets are bequeathed referred to as the beneficiary or legatee.
- Intestate:An individual who dies without a valid will.
- Probate:Will copy obtained, which is certified and sealed by a competent court of law.
- Administrator:A person who manages the division of the deceased person’s assets if there is no will.
Who can write a will?
Any adult who is of sound mind and is over the age of majority is qualified to form a will under the Indian Succession Act of 1925. A person’s legal right to select an executor to oversee their estate and make sure their assets pass to the people they want them to upon death is expressed in their will.
Why do you need a will?
- Writing a will helps you to take care of and protect the rights of your immediate family members, prohibiting certain individuals, whom you want to exclude, to stake a claim in your property.
- It simplifies the process of inheritance of your properties by your legal heirs.
- It helps prevent property disputes as the will clearly states the persons who will receive your property and the share they will receive.
- When a person dies intestate, their assets and properties are distributed according to the Hindu succession laws.
- A will helps you make decisions on who will take care your minor children and pets.
- Besides stating about the distribution of assets, a will allows a person to plan gifts and donations to their preferred charitable institutions.
Things to consider when drafting a will
- Before writing a will, one should be ready with a list of their assets and liabilities, which should be categorised into moveable properties, which includes cash, stocks, etc. and immovable properties, which includes land, flats, etc.
- Consider liabilities that would be adjusted against the overall assets.
- One can add heirs as joint holders or nominees to facilitate the transfer of the movable assets.
- Choose an executor by identifying trusted people. They should be younger than the testator as it reduces the chances of their dying before the testator.
- In case heirloom assets, one should specify the beneficiary and state the rationale for a person to receive it.
How to write a will?
Although there is no specified format for a will, one should mention details that are important from a legal perspective.
- Mention the title that clearly reads that it is your last will and testament.
- Declare that you are writing the will in soundness of your mind. Include your legal full name.
- List the assets you own, including properties, bank savings account, fixed deposit, mutual funds, etc.
- Mention the name of the beneficiaries, the person or entity, who will receive your assets.
- Name the executor of the will, the person who will be responsible for managing the division of your assets. Name a guardian of minor children.
- Sign the will in the presence of two persons who will be the witnesses. They will be required to sign and certify that you have signed the document in their presence. Each page of the will must be signed. In case of any correction, you and the witnesses should countersign the same.
- Specify the date and place of signing on the will with the complete addresses and names of the witnesses.
Format of a will
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I, name of the testator _____________son/daughter/wife of Mr (father’s name)________,resident (address), (religion)_______by religion___________, do hereby revoke all my former Wills, codicils, and declare that this is my last Will and testament, I wish to make on_____(Will preparation date)_____ Date of Birth. I declare that I am writing this will in good health and a sound mind. This Will is made by me without any persuasion or coercion and is my independent decision only. I hereby appoint Mr________ son/ daughter of Mr (father’s name)______, resident of______to be the executor of this Will. In the event Mr__________were to predecease me, then Mr______, will be the executor of this Will. The name of my wife (spouse) is _________. We have ________(number of children) children (names). 1._________ 2._________ I bequeath the following immovable and movable assets to my legal heir(s): Example: 1. One apartment at in city____Address_________ 2. Bank balance of my savings account in bank name ____ (other details) 3. Proceeds of my term insurance policy ___ (policy number) from _____ (insurance company name) 4. Details of jewellery, cash, public provident fund, shares in companies, etc. All the assets are self-acquired and nobody else has any title, right, claim, interest or demand, whatsoever, on these assets or properties. Testator’s signature _______________ Witnesses We hereby attest that the will has been signed by Mr_______as his last will at______(location)_____in our presence. The testator is in sound mind and made this will without any coercion. Signature of witness 1 _________________ Signature of witness 2 _________________ |
Where to store a will?
The original will must be kept at a place where it can be easily found, such as the cupboard or cabinet. A copy of the document should be given to the legal advisors.
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Ans 1. Yes, you can write your will by including the details that are important from a legal perspective.
Ans 2. There is no specified validity of a will in India.
Ans 3. There is no need to get a will notarised in India.
Ans 4. One can write a will in any language without the need to use any technical jargons.
Ans 5. A will does not have any prescribed format. However, it should contain the following sections: Personal details, date of will preparation, executor’s details, beneficiaries’ details, details of assets, signature by self and two witnesses.
Ans 6. While registering a will is not mandatory, doing so is beneficial as a copy of the will remains with the office of the registry. In case the document is damaged or lost, one can obtain a certified copy from the office. Moreover, one cannot challenge a registered will in court.