It is desire of every person to ensure that his property is passed on to his loved ones upon his death. Commonly, property is given to wife, husband, children etc. but you may want to give a share of your property to other relations like parents, brother, sister, uncle, aunt, friend, niece, nephew etc. A will makes sure that your property is distributed as per your wish after your death. Execution of Will becomes more important when you have minor children and aged parents so that they can be looked after in case you die. Without a will, your property will be dealt with in accordance of laws of inheritance applicable as per your religion.
A Will is a legal document that sets forth your wishes regarding distribution of your property/ assets upon your death. It mentions details of all the properties and assets of the person making it and details of the beneficiaries to whom these properties and assets are to be given after the death of person making the Will. A Will can be changed any number of times or even withdrawn during the lifetime of the person making it.
Testator-a person who makes the Wil
Beneficiary- a person who gets the property under the Will
Executor- a person who implements (settlement of assets) the Will after the death of testator