What is a Will?
A will is a legal document in which a person gives instructions regarding the distribution of their property so that after their death, the property goes to the people they want it to go to. This document is not mandatory, but creating one can prevent disputes over inheritance.
A will must be in writing and should be made voluntarily without any coercion. It should contain a complete description of the property, the names of the beneficiaries, and clear instructions for distribution. It is usually made in the presence of two witnesses, and their signatures are also required.
Although registration of a will is not mandatory, it is advisable to register it to make it legally stronger. Any person aged 18 years or older, who is mentally sound, can make a will for their property.
If a person dies without a will, their property is distributed according to inheritance laws, which can sometimes lead to disputes within the family. Therefore, making a will is a wise step to properly plan your estate and provide a secure future for your loved ones.
This is a document that specifies which minor and adult guardians will be nominated for your property after your death. The person making the will must be of legal age. While it is a legal process, there are many cases of fraud involved, such as obtaining signatures fraudulently. After the death of the testator, the people whose names are in the document receive the property. Some individuals even donate their property to charity, and this is also specified through the will. This legal document contains the name of one or more persons, but the person in whose name the will is made is the heir to that property. The person making the will can revoke it at any time or transfer it to someone else's name. What does mutation of property mean?
Purpose of Making a Will
Every person wants their property to be used properly and to avoid any disputes within the family after their death. Therefore, making a will is a wise decision that can prevent legal and family problems in the future. Some of the main objectives of making a will are as follows:
It facilitates the distribution of property according to one's wishes.
It prevents potential disputes among heirs.
The legal process can be made easier and clearer.
It gives the right to bequeath property to a specific person or institution.
Special provisions can be made for minor or disabled heirs.
Without a will, the distribution of property is done according to inheritance laws, which may not reflect the desired distribution.
The financial security of the family can be ensured.
Tax-related provisions can be considered in the will to plan for savings.
A trustee or guardian can be appointed for the management and care of the property.
It provides an opportunity to legally record one's last wishes.
What are the types of wills? (Types of Wills in India)
There are several types of wills in India, which may vary according to the individual's needs and legal status. Each type of will has a different legal significance.
Registered Will – This is registered at the Sub-Registrar's office, which gives it greater legal validity and makes it difficult to challenge.
Unregistered Will – This is simply written down and signed by witnesses, but it is not registered.
Holographic Will – This is a will entirely written in the handwriting of the property owner, which does not require witnesses, but may need legal authentication.
General Will – This clearly states the distribution of property and can be changed at any time.
Joint Will – This is made jointly by two people, usually a husband and wife, who give instructions regarding the inheritance of their property. Conditional Will – This type of will includes certain conditions that must be met before the property is transferred to the beneficiary.
Special Will – This type of will is made under special circumstances, such as a will made by soldiers during wartime, which is recognized under special rules.