One of the most important aspects of estate planning is writing a Will. It avoids legal issues, safeguards the interests of your loved ones, and guarantees that your assets are disbursed according to your final intentions. Explore how to make a will in India in this article.
What is a Will?
In India, a Will is an official document that outlines the distribution of an individual’s assets following their demise. The Indian Succession Act of 1925 governs this legal declaration made by the testator.
In order for the Will to be considered valid, it must:
- Be created by an individual who is mentally competent.
- Be devoid of any manipulation or pressure.
- Be endorsed by the testator in front of two witnesses.
Both movable and immovable property, including real estate, mutual funds, savings accounts, and personal assets, are covered by a Will. In the absence of a Will, assets are divided under inheritance laws, which could fail to reflect the desires of the deceased.
If you are wondering how to make Will in India, it’s important to follow the proper steps to ensure the document’s validity.
Benefits of Having a Will
- Prevent Legal Conflicts: A well-written Will prevents confusion and disputes among heirs.
- Contributions to Charities: You can allocate assets to organizations or causes of your choosing.
- Special Needs: Dependents with particular needs are guaranteed financial support through a Will.
- Guardian Appointment: Parents can appoint a guardian for minor children.
- Custom Asset Distribution: You can distribute assets as you see fit, even deviating from conventional inheritance laws.
Step-by-Step Guide For How to Make Will in India
- Identify Your Assets: To ensure proper allocation, prepare a thorough inventory of all your real estate holdings, assets, and personal possessions.
- Select an Executor: Select a reliable person to carry out the Will upon your passing.
- Name the Beneficiaries: Beneficiaries should be identified clearly by providing their full names and addresses. To prevent disagreements, clearly state their shares.
- Write the Will: Write the Will in plain, straightforward terms. It should contain information on the executor, asset distribution, and any special directives.
- Sign and Witness: Two witnesses must be present when the testator signs the Will, and they must both sign it. Beneficiaries should not act as witnesses.
- Assure Legal Adherence: To ensure the Will’s legal validity, comply with the Indian Succession Act’s stipulations.
Understanding how to make a Will in India is essential for protecting your assets and ensuring your wishes are honored.
Registering a Will in India
Is Registration Mandatory?
Indian law does not require a Will to be registered. If an unregistered Will satisfies legal conditions, it is still considered valid. However, registering a Will lowers the possibility of disputes and lends greater authenticity.
Knowing how to make Will in India and the registration process helps avoid confusion or future legal challenges.
Steps to Register a Will
- Write the Will: When writing the Will, make sure it is clear and free of contradictions. Seek legal counsel if necessary.
- Select the Office of the Sub-Registrar: Choose the sub-registrar’s office in the neighborhood where you live or where the majority of your assets are situated.
- Gather Documents:
- The original Will.
- Two passport-sized photos of the testator.
- Proof of address and identity (e.g., Aadhaar, PAN).
- Witnesses’ identity and address proofs.
- Witness photographs.
- A fitness certificate from a licensed medical professional attesting to the testator’s mental health.
- Go to the Office of the Sub-registrar: The necessary paperwork must be presented in person by the testator and witnesses. The Will is examined by the registrar to ensure that it complies with legal requirements.
- Pay the Registration Fee: There is a nominal registration cost that varies by state.
- Sign and Witness: The Will is signed in front of the registrar by the testator and witnesses.
- Obtain the Registered Will: A copy of the registered Will and a receipt are issued by the registrar. The original is safely kept in the registrar’s records.
Key Points to Note:
- Registration of a Will is optional under the Indian Succession Act but is recommended to avoid disputes and establish its authenticity.
- Once registered, the Will can only be revoked by the testator during their lifetime.
- The registrar ensures confidentiality, and the registered Will can only be accessed by authorized individuals.
Common Mistakes to Avoid While Making a Will
- Improper Execution: A Will that is improperly signed or lacks witnesses may be deemed void. Ensure two impartial witnesses are present when the Will is signed.
- Failure to Update the Will: Revise your Will regularly or after major life changes, such as marriage, having children, or acquiring new property.
- Ignoring Non-Probate Assets: Keep in mind that certain assets, like insurance policies or retirement funds, have beneficiary designations that override the Will. Update each of these independently.
- Neglecting Digital Assets: Designate a digital executor to manage digital accounts and include instructions for doing so.
- Lack of a Will: Many people think that only the wealthy or elderly require a Will. However, a Will ensures everyone’s assets and responsibilities are handled as intended.
Key Takeaway
To protect your possessions and make sure your intentions are followed, you must draft and file a Will. Understanding how to make Will in India ensures your loved ones have clarity and peace of mind. Spend some time now planning your estate.
Also Read: Understanding Property Disputes and Real Estate Laws in Kolkata
References:
https://lawbhoomi.com/how-to-register-a-will-in-india/
https://www.freewill.com/learn/common-mistakes-when-making-a-will
https://vakilsearch.com/blog/is-will-registration-a-mandatory-process-get-a-complete-understanding/
https://1finance.co.in/blog/how-to-make-a-will-in-india/
https://www.indiafilings.com/learn/advantages-will/