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Will

{For transfer of property upon death of a person}

2360

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.

What is a Will?

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 A Will can be changed any number of times or even withdrawn during the lifetime of the person making it.

  Parties to a Will

  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

 

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Essentials of a Will

  • testator should be 18 years of age and competent to contract
  • clear mention of property and assets
  • property of will shall be self-acquired
  • no joint family property or ancestral property
  • details of beneficiaries along with share in the property
  • details of executor
  • can be on a stamp paper or plain paper
  • signed by testator and two witnesses
  • appointment of guardian in case minor being a beneficiary

Registration of Will

Registration of Will is not compulsory but it highly recommended. In case of registered Will, ownership of property and assets is settled and the same cannot be challenged by way of legal disputes. The Will is registered in the office of sub-registrar meant for this purpose.

Note :-

  • Draft template will be provided in soft copy
  • Extra charges will apply for customized document