Will document or gift document

Sr.Office Superintendent

Dear Sirs,

Kindly provide your suggestion for the following :

A person who acquired self property, he wants to give his property to his minor Son and his Wife apart from his three Daughters .  Which is the better way to give the property by the way of writing a WILL or GIFT document  that will be useful to his minor Son without any legal heirs objections in future

With kind regards,

( D.Dakshina Murthy )

 
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Bangalore

Self acquired property you give away by way of making will to your minor son.  After your time let him enjoy.

 
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FIN

In presidential towns it is mandatory to probate the WILL.

Inquire the expenses.

If WILL is contested it lands up in probate court.

The WILL comes into effect after death of testator.

It is better to register the WILL. The registered WILL is not easily set aside, atleast on counts of authenticity.

It is also better to leave evidence of property being self earned/acquired.

 
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FIN

In Blood relation/list of relatives the state might have waived off the stamp duty/charges.

The gift deed (registered) confers title with immediate effect. The gift is complete the moment it is gven by donor and accepted by donee.

 
Reply   
 
FIN

In presidential towns it is mandatory to probate the WILL.

Inquire the expenses.

If WILL is contested it lands up in probate court.

The WILL comes into effect after death of testator.

It is better to register the WILL. The registered WILL is not easily set aside, atleast on counts of authenticity.

It is also better to leave evidence of property being self earned/acquired.

 
Reply   
 

You will transfer deed in blood relationship.
 
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Advocate

If the intention is to prevent your minor son from facing any legal hazzales in acquiring ownership to the property, after your death,  then gift would be the safest option. However, once the gift is executed, it is irreversable, should you change your mind,  at  latter point of time.  I think you must first consult a proper consulor and explain to him all your fears, inhibitions, desires before executing any document in this regard.  

 
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FIN

Agreed.

Consult your own able counsel specializing in sucession/property/civil matters at your own location.

 
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Sr.Office Superintendent

Sirs, Will it be better to write a Conditional WILL in both names of Wife and Son ( i.e. After death of wife, the son will acquire the property without any legal heirs' disturbances ? With regards
 
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FIN

Yes.

The last wish of testator in WILL is supreme.

You seem to be having apprehensions.

It is better to register the WILL. The registered WILL is not easily set aside, atleast on counts of authenticity. It is also better to leave evidence of property being self earned/acquired. It shall also be appropriate to get certificate from medical speacialist/psychiatrist preferably: Govt., that testator is mentally sound.

 
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