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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- Even registered deed can be superseded by subsequent unregistered WILL.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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