Benefits over and above the will.

ksr prasad (Querist) 23 November 2016 This query is : Resolved
My cousins' mother happens to be step mother and a widow. Before death, her husband wrote a WILL(registered)where he had distributed his moveable and immovable assets as per his desire. After going through the WILL, his wife and her two step sons(both majors) felt there was a need to give her a better deal on humanitarian considerations and the cost of living as on date. This was done in presence of a few well-wishers from both sides. After negotiations, it was decided to give her a fixed amount of cash in lieu of all components written in the WILL. Actually, the sum so agreed works out to much more than the WILL benefit.
Please clarify the following in light of the background explained as above.
1. What kind of a deed is to be executed between the step mother and two sons, so that neither party can raise any objections/claims at a later date. Can a statement in the settlement deed that 'besides other benefits, WILL also stands executed and no further claims whatsoever shall be entertained by either party and this the final deed between us' give enough strength? Pl suggest.
2. Does the endorsement by a legal arbitrator give the same strength to the document as the normal registration? I believe former costs much less than the later.

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