Important points to be kept in mind while making a WILL

Important points to be kept in mind while making a WILL
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Last updated on May 15th, 2021 at 09:17 pm

Important points to be kept in mind while making a WILL

  • A WILL is a desire of a person to manage and distribute properties after his death, It can be executed only after the death of the person.
  • It can be amended any number of times.
  • It is always advisable to prepare a WILL to avoid disputes and easy succession of estates.
  • Any major person can make WILL who is in sound mind in the ordinary course.
  • A WILL may also have an in-terrorem clause, means a person who challenges the WILL, will not get any share in the property.
  • It is always preferred to have separate WILLS than the joint/mutual WILL by couples, in certain conditions if the partner wants to bind certain conditions then Joint WILL is preferred.
  • A WILL can be typed, handwritten not necessarily on stamp paper, it can be on simple plain paper also.
  • But a clear and detailed WILL which is legitimate to read and understand is advisable.
  • It should be signed by two witnesses and also the executioner to be appointed for the distribution of assets.
  • It is preferred to have as much as details possible about the assets.
  • The distribution of assets should be clearly stated to avoid disputes.
  • The date should be clearly mentioned as the last WILL shall be regarded as final WILL.
  • If a person is excluded as a beneficiary, it is advisable to give reasons like a huge amount is spent on his education, marriage, etc.
  • It is advisable in case of foreign assets to prepare separate WILL to avoid Foreign Laws for the Estates in India.
  • It is advisable to take a Physician certificate and attach it with WILL to prove that at the time of preparation of WILL, the person was in sound mind and health.
  • It is advisable to register a WILL, it will have more credibility and genuineness, alternatively, it can be notarized.
  • Even registered deed can be superseded by subsequent unregistered WILL.
  • Once the WILL is executed before the court, after verification the court issues Probate and the assets are distributed on such order.

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