Preparing a will ensures that all your assets and properties are distributed and disposed of as per your wishes after your death avoiding disputes/misunderstanding or any legal interference within the family. Also, if you wish to give more share to some of your relatives/heirs and want to ensure that certain person must not get any of your assets and properties, then will is the only effective document to do the same. For example – if one wishes to donate organs, give flat to wife, give more/less to any particular son/daughter, give some amount to parents or also care taker/friend etc., such wishes can be mentioned in a Will which shall be binding to all - family, relatives, all laws, all courts including the Supreme Court of India. Individuals following Muslim religion may have to follow Sharia laws for succession of wealth instead of writing a Will.

When one dies without writing a Will (called “intestate” in legal language), all your properties, assets, wealth is distributed as per Succession Laws applicable to your religion/personal law, like The Hindu Succession Act etc.. You must know that such succession laws have defined fixed proportion to be distributed to all/several family members which may not be as per your wishes. There could be chances of delay in distribut ion of properties and may lead to legal cases, disputes amongst family members etc.

In today’s world of uncertainty where untimely death due to accidents, heart ailments, terror attacks are becoming ‘a way of life’ which is also why many people take insurance at a young age of 25 or earlier. You should make a Will soon after attaining 18 years of age and owning even a single asset like flat or insurance policy or bank account or shares. If one takes insurance at a young age to provide financial support to the family in case of untimely death, why not make a Will which is an instruction in writing to the family as on ‘how to distribute insurance claim or other properties / assets’. Hence everyone should make a Will at any age above 18 years.

Will can be handwritten or typed, however typed Will is preferred on a plain paper as Stamp paper or stamp duty payment is exempted in India for a Will document. A Will should be in any language which is suitable to the person who has made the Will. A Will should cover details of your family, your properties/assets, your liabilities, your wishes, your bequeaths (property distribution wishes), names of two witnesses, date and place of signing, sign of the person who has made the Will and both the witnesses on each page.

It is advisable to mention all single/joint properties, wealth, assets, receivables as well as all liabilities/loans in the Will, including movable, immovable, intangible properties and assets. Movable properties will include Cash, Jewellery, FD’S, Bank Accounts, Insurance

Policies, Vehicles & all your furniture, fixtures etc. Immovable properties will include all your Land, Building, Flat, Shop, Office, Plot, Garage etc.

Yes it is allowed where both the husband and wife bequeath all properties to each other and final bequeath is mentioned by which properties are distributed to family, relatives etc. as per Joint Will. However, such joint Will can take effect only after the death of both and not during the lifetime of either one. Many a times, husband and wife prepare ‘Mirror Will’ which are two separate individual Wills where each spouse gives all his/her property to their other spouse and mention third person as an Alternate Beneficiary.

Legally a will can be stored at any place. However, it is advisable to store your will at a safe and secure location where it cannot be tampered with and it can be easily found by your family after your death. It may be kept in the safe custody of a locker, with a trusted person or with professionals like banker or solicitor who will take necessary steps to inform the executor after your death. Various banks and financial institutions offer custodian services for safe keeping your will.

Ancestral properties in which title/ownership is legally transferred can be bequeathed by a Will.

A general clause is included in a Will for residual properties/assets (miscellaneous assets that were missed) which specify who should receive ‘residual assets’ and similarly a general clause is added for ‘all future assets’.

One can cancel/revoke their Will at any point of time or even by making a fresh Will. Once a Will is made all the past/old Wills stand cancelled. A Will can be revoked in the following ways:-

By execution of a subsequent Will;

By writing and declaring an intention to revoke the Will;

By burning, tearing or otherwise destroying the Will.

No, as of date any property received under the Will does not attract any tax including capital gain tax. In past there was an Estate Duty tax which has been abolished in 1985 by India Government.

A Will drafting can be done by any legal professional. In today’s world of technologies, a Will can be made online with a software which is developed by a Will lawyers with IT engineering expertise. Drafting of a Will in simple and clear language with required legal clauses can avoid undue legal disputes / misunderstandings.