How to make a WILL in India
A WILL needs to be
created to distribute your Wealth in the manner you want to. A WILL can
be made by anyone above 21 years of age in India. You can make the WILL on
plain paper in India. It’s not legally necessary to make the WILL on stamp
paper. It is advisable to write your WILL in your own hand writing, as the same
can be verified later in case of any doubts raised by relatives.
A WILL is so
important, that it should be your first step in your financial life. If your
family structure is diverse, and you want to leave your wealth to different
members of
family like you want to, you should prepare your WILL today, not tomorrow, not later.
If you die without preparing a WILL in India, your wealth will then be
distributed as per ‘Hindu Succession Law”. Laws
of inheritance and succession, are complicated and diverse in nature, and are
different in case of Hindus and Muslims.
A WILL has several
parts, which duly completed, make up a complete WILL consisting of the parts
namely:
- Declaration in the beginning :
- Details of Property and Documents;
- Details of ownership;
- Signing the Will
It is not legally
required to get the will executed in a court of law in presence of a judicial
Magistrate in India. You can change your WILL any time
you want to. However, make sure that when you make a new WILL, you
mention that this WILL is the latest and supersedes all earlier WILLS.
0 comments:
Post a Comment
Note: only a member of this blog may post a comment.