 "Make your Will smartly and avoid property disputes")
The age of persons creating a will has come down at last decade. Sole purpose of creating the will remains the same just that the approach by citizens has been more proactive rather than wait for dire state of affairs.
Will is a legal document that is prepared by the person who wants to transfer his possessions like property to his or her relative or person he wants the legal possessor of property after his death.
The person can change his Will anytime; it is enforceable after death. The sole advantage of creating a will is that the disputes on property arising after the death of the person are saved. A proper Will saves confusion among family members and relatives.
Is there a format for Will?
Generally, there is no prescribed format for a will. It can be written on paper in any language. Even the stamp paper is not necessary if it is written by hand. The Will can also be written on a word file in computer, but it should be remembered that it is better that this kind of will should be on a stamp paper as hand written Will is considered more authentic.
The reason behind authenticity given to a hand written Will is that it can be cross verified afterwards. Having said that either handwritten or on stamp paper, the Will must contain certain details.
(1) Declaration: A declaration in the case of the will is required that contains details of name, address, age of the person, and that it is written in good sense and without any pressure or coercion from anybody.
(2) Property details: This is the most important part of the Will. It should contain details about the property or possession attached under Will. Any documents of property should be narrated in the Will of the person.
(3) Who is the beneficiary? : One who has been made the beneficiaries should be clarified in the will. Without any beneficiary, the will becomes minimal usage as the basic criteria remains unfulfilled. In case of a minor to whom the Will is made in favor, his testamentary guardian. In case of the death of a person, his surviving parent is treated as the guardian.
(4) Attest your will: It is important that the person making his Will should attest it. Apart from attestation, he should also certify the witnesses at the time of creating a will. The signature or thumb impression should be there on the will. Every page should be signed so as to make the will be authentic. The number of witnesses can be two or more than two, and that should be done in the presence of the testator or the person making the will. The witness should be trusted by the Will maker, and ideally, he should not be part to the will.
Will should be registered
Registration of the will is the utmost important part of the Will making. The Will should be registered at the local court by a registrar. It should not be in the absence of the testator. He/she should be present along with the witnesses. The registration is necessary as it makes the Will strong and the legal disputes arising after the passing of testator hold little ground after registration. The Will should be kept for safe custody after its registration in order to avoid forgery.
Will Execution
After the death of the person, the Will is executed by the executor who has been appointed by the person making the will before his death. The legal beneficiary applies for the execution of the will after the death. Court also reserves the right of asking other relatives for their objection. In case there is no objection the will is executed or granted in favor of the beneficiary. This executed will is known as probate. The probate contains the seal of the court and the signature of the registrar.
Certificate of Succession:
Succession certificate is granted after the court realizes the debts and securities of the deceased and to give a discharge letter. This is the last legal step in the will. The certificate of succession is the document which makes the beneficiary enjoys the benefits under the Will after the death of the testator.
Source: InvestmentYogi is one of the leading personal portals in India