Absence of a Will makes up for good stuff for Drama. Do you want one to play out in your house too? We think, not! We are glad you contemplated making one and in the meantime bumped into us too!
What deters so many people from making a will before one’s demise? The most obvious answer would be ‘laziness’. What if we told you that you can actually make your own deed lazing around at your home, or precisely sitting at your desk. Yes, now you can create your will from LegalDesk staying at home, since you don’t have to hunt for a lawyer as instead, we bring one to you! For legally valid, user-friendly, ready-to-print Will templates, Register with us and start creating one.
All The Terms Explained
Before drafting your will, here are some of the essential terms one has to be familiar with,
- Testator/Testatrix – The person who is executing the Will is known as the Testator or Testatrix.
- Beneficiary – Beneficiary is the person or group of persons benefitting from the execution of the will upon the death of the Testator.
- Administrator – He/She is a person appointed by a competent authority to administer the estate of the deceased person when there is no executor. An Administrator comes in to the fore when the deceased person hasn’t left behind a will. As per the religious laws of the deceased the property will be distributed by the Administrator.
- Executor – He/She is a person who has the responsibility of executing the Will of the deceased person. He/She is also the legal representative of the Will and the same will be mentioned in the Will.
- Codicil – Codicil is an instrument made in relation to a will for the purpose of altering or making additions which shall be deemed part of the will.
- Probate – Probate is the copy of a Will certified under the seal of a Court under its respective jurisdiction with a grant of administration to the estate of the Testator.
Know The Essentials Before Drafting A Will
Will is one of the widely used instruments for the purpose of Transfer of Property. Today’s capitalistic economy has created a vast amount of wealth for all of us – this demands a proper regulation of all the assets so that the beneficiaries don’t have to spend their well-disposed time on property related legal disputes in an already burdened Judiciary.
Indian Succession Act, 1925 lays bare all the legal essentials surrounding a Will. It defines Will as, “the legal declaration of the intention of a Testator with respect to his property which he desires to be carried into effect after his death”.
Here are a few points worth remembering –
- Enlist all your properties and verify each before adding them to the will to avoid mistakes. If there is a misrepresentation, the execution of a will might be futile as it will nevertheless be dragged to court. Hence be sure of having cleared all the confusion.
- Refer to a Guardian if one of the benefactors is a minor – when the minor comes of age it is the Guardian’s duty to convey the property.
- If there is a misrepresentation or if you had to add another property to the will, one can always make changes to it since once a will is signed it is not absolute unless the Testator dies. A correction or addition is always made through a ‘Codicil’, an instrument meant for corrections in the Will.
- Will obtained by fraud, coercion and undue influence can be duly contested in court.
- The will apart from being signed by the Testator has to be signed by two witnesses too.
- If a new Will is prepared, evidently the old Will is rendered void.
- If a Will doesn’t express its intentions precisely, it is void on the cause of uncertainty.
Registration Of A Will
A Will is as good as executed once the testator signs the document in the presence of two witnesses. Also, it is not mandatory for a Will to be Registered.
However, if you’d ask us, we would recommend you to register your will if you own numerous assets. There is always more vulnerability when the testator owns a number of assets while the benefactors are still minors. In order to safeguard the property of minors it is prudent for one to Register his/her Will.
Register your Will at the nearest Sub-Registrar/District Registrar Office at a very minimal price of Rs. 100/-
All You Have To Know About The Executor
When the Will is in place, one has to name an Executor in order to carry out the deeds mentioned in the Will. An Executor is essentially a legal representative, who apart from enforcing the Will can also claim debts from people who owe the deceased Testator. The Testator is free to chose the executor of his/her personal choice as it is not mandated for them to be a lawyer. The Executor, apart from carrying out the deeds of the Will is expected to bear the expenses of the last rites of the deceased Testator.
What’s The Worst That Could Happen?
In the event where one hasn’t bequeathed one’s property through a Will, it is highly likely for it to run into a legal dispute. Also, it unfairly exposes the minors related to the Testator who could suffer the worst.
One thing we can be certain of is how uncertain death really is! Therefore in the interest of your loved ones, it is necessary to create a will when one owns a certain number of assets. If there are liabilities or debts due on the Testator, it will be, as mandated by law, transferred to the legal heir. In order to avoid such burdens on heirs, making a Will will eliminate all the confusion and will specify the beneficiaries on their responsibilities.
A Will acquires paramount importance when one is related to mentally challenged relatives or persons with no financial security who are vulnerable (widows, minors) at the hands of the beneficiaries. Hence, to safeguard their interests one can introduce the Life Security clause.
Through a Life Security clause the deceased can ensure that the beneficiary doesn’t make the hasty decision of selling the property but rather use it as an asset for monthly allowance. The legal term for the same is ‘Annuity A’. Through this, the Testator can ensure that a monthly/yearly/quarterly/half-yearly income is received by the beneficiary.
Make A Will Now At LegalDesk
Of late, it is not necessary for one to print the Will on a Stamp Paper or pay the Stamp Duty. It can be printed on an ordinary paper with all the necessary details of the Testator, including his/her assets, liabilities, executor and the relation with the beneficiaries. Enter all the required information on our pre-drafted templates. You can further go ahead and customise the document (if you require customisations). Download the Will and have it printed now. Sign the document in the presence of two witnesses and your Will is ready to be stored into posterity!