A Will is defined as “a legal declaration of the intention of the testator, with respect to his property, which he desires to be carried into effect after his death.”
There is no specific or prescribed form of a Will and in any language (understood by the person making the Will. The person making a Will must be in sound mind. A Will must be made by the person voluntarily. It is important that a person making the Will details out his family tree and the reason for giving and not giving the assets to any specific heir/person.
It is a legal document made by a person called the testator that states the distribution of his assets and possessions, also his wish regarding custody of minor dependents and management of accounts, interests and the care of any minor children. If you die without a will or testate, those desires may not be carried out and your heirs are required to spend extra time, money, and emotional energy to settle your affairs after you’re gone. A will allows an individual to decide which could best serve as the executor of his estate and direct how your belongings such as bank balances, property and assets should be distributed. A testator if he is in favor can also give gift and charitable donations through a will. It can help you offset the estate tax.
There are many good reasons to have a will such as whom to assure your assets and how much and you can identify who should care for your children, if you die intestate the court will decide. The other benefit of making a will is that your heirs will have a faster and easier time getting access to your assets. Similarly, if you wish to donate assets to an institution or an organization, a will can assure that your wishes are carried out. A will can also be updated on the wish of the testator. It may be possible that your will may never need to be altered or you may choose to alter it regularly. The only kind of your will taken into consideration is the most current valid one in existence at the time of your death.
A will must contain requirements must be legally enforceable by the courts. While executing a will, person must major and have testamentary capacity to sign the will or of sound mind which means he is able to understand the nature and size of your estate. The testator must voluntarily and with free consent enter into and sign the will. The will must be signed and dated by the testator before two adult witnesses who are neither beneficiary nor interested in the estates or will and who can attest to the testator’s identity and state of mind. The witnesses on the will also sign the will in the presence of each other.
Points to be noted:
- It must be signed and attested by two Witnesses. The witnesses must sign in each other’s presence and that of the testator.
- A witness of the Will cannot be the beneficiary of the Will. It is not mandatory or statutory to have a Will registered in India. A Will is registered with the office of the sub-registrar in the presence of the testator and the two witnesses.
A testator during his lifetime can revoke/cancel his Will and make a new Will. However, it is important for him to state the reason for cancelling the Will and making a new one.
It is important that a Will made in a full proof manner and it is not possible for any authority to set it aside.
Will made by any person suffering from mental illness or mental disability can be set aside by the courts. A person who makes several Wills and does not cancel any or does not state reasons for making new Wills is looked upon with suspicion by the courts.
Making a will rarely involves complicated legal rules. Our legal team is expert in handling will and estate issues and ensures that the property and possession and distributed according to your specific wishes. Additionally, we helped our clients and contest wills for many years and our knowledge and experience in this field ensure that the process is a prompt and stress free for our clients.
As a team of Will and Estate experts, we ensure that the document of the Client does not contain any technical error or mistake and is valid and ensures everything is legally binding and attempt to negotiate your best possible outcome. Our team attempt to address all the components of the assets of the Client and also guide to make additions and alterations in the will if needed. We also help and attempt to make reduction in your tax as per the value of your assets.