Exclusive HOLI Discounts!
Get Courses and Combos at Upto 50% OFF!
Upgrad
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

aruna (housewife)     02 October 2012

How to make a will

How to make a will ?

How much does it cost?

Even though we have nominees etc , banks & other govt sectors create lot of hurdles . Will is the only answer?

Middle class has hard earned money , just kept for child's education and  day to day expenses . If that cannot be  protected and passed on in case of eventually it is a sad state of affairs.

Can a will be just written on a plain paper and signed and then notarised by saying " All the property that I own movable & immovable will be inherited by my children , " this suffices or is there a format.

 



Learning

 5 Replies

MohammedRaffiq Bijapur (Advocate)     02 October 2012

Hello Aruna

There is no fixed format for creation of Will. the intention of the testator is important which should be depicted in that deed/writing that is sufficient. Further the person who wants to bequeath the property thru will mush be competant, he must not under coersion wor threat. he must be concious and aware of what he is doing.

No cost will incurred, but if it is to be registered hardly so expenses will have to be borne.

Yes will can be written on plain paper.

DAULAT DILBAUG (Problems related to money marriage matters.-dostnaye@gmail.com)     02 October 2012

Notarised will have no legal value. It should be registered., otherwise it will be disputed.

Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 )     02 October 2012

 

A will has several parts, which duly completed, make up a complete Will. Though there is no legal or defined format, there is a template, which has been generally used for ages. It’s simple, it’s very logical and derives from common sense. Let’s look the whole format and some important points while creating a will.

Step 1 : Declaration in the beginning : In the first paragraph, you have to declare that you are making this will in your full senses and free from any kind of pressure. You have to mention your name, address, age, etc at the time of writing the will so that it confirms that you really are, in your senses :)

Step 2 : Details of Property and Documents : The next step is to provide list of items and their current values, like house, land, bank fixed deposits, postal investments, mutual funds, share certificates owned by you. You must also indicate, where all these documents are stored by you. In all probability, these are in your bank safe deposit box. Even the will should be stored in there! Make sure, you take the details from the bank manager, about the procedure and rules of releasing your will from the safe deposit after your death. Make sure you communicate it to the executor of the Will or your family members . I am sure, they’ll be pretty interested in this :)

Step 3: Details of ownership : At the end of the will, you should mention who should own your assets items and in what proportion, after you have gone.  If you are giving your assets to a minor, make sure you appoint a custodian of your assets till the individual you have selected, reaches an adult age. This custodian obviously, has to be a trustworthy person.

Step 4 : Signing the Will : At the end, once you complete writing your will, you must sign the will very carefully in presence of at least two independent witnesses, who have to sign after your signature, certifying that you have signed the will in their presence. The date and place, also must be indicated clearly at the bottom of the will. Make sure you and the witnesses sign all the pages of the will. One important point while choosing witness, is that they should be your friends, neighbors, or your colleagues and not the direct beneficiaries in the Will. They only certify, that you yourself have signed the will in their presence and are not a party in making the will. The envelope has to be sealed after completing all the formalities and the seal must bear your signature and the date of sealing. The witnesses need not sign on the seal of the envelope.

sample of WILL in India

1 Like

A.SUMATHY 9380902017 (LAWYER)     03 October 2012

i AGREE WITH RAMA CHARY'S REPLY


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register