Will Writing and Registration Services
What is a Will (वसीयत)?
A will is a legally binding document that details how a person's assets and properties will be allocated after they pass away. It enables an individual to designate an executor to ensure their wishes are carried out and to define the beneficiaries who will inherit their assets.
1. Mandatory or not:
- Will registration is optional under Indian law. However, opting for registration provides added legal validity to the document. It involves the execution of the will at the Sub-Registrar’s office, akin to the process for registering property documents.
2. Why Register will:
- Genuineness: A registered will is presumed to be genuine unless proven otherwise, adding an extra layer of authenticity.
- Smooth Transition: A registered will facilitates a seamless transition of assets/ownership, as banks and other authorities typically recognize it as sufficient documentation for transfer.
- Time Saving: By registering your will, your beneficiaries are spared the hassle of navigating legal proceedings or dealing with bureaucratic hurdles, saving valuable time and effort.
3. Online Will Writing Service:
- Access to Professionals: Online processes enable individuals to consult top professionals regardless of their location, offering convenience and accessibility.
- Cost-Effective: Online will Writing service often come at a nominal cost, making professional assistance more affordable and accessible to a broader demographic.
- Transparency and Confidentiality: The online drafting process is transparent, ensuring clarity and understanding for the user. Moreover, it maintains confidentiality, safeguarding sensitive personal information throughout the process.
How to Make a Will (वसीयत) in India:
Step 1: List Your Assets and Liabilities
Start by making a comprehensive list of all your assets, including:
- Investments (stocks, bonds, mutual funds)
- Personal belongings (jewellery, vehicles, artworks)
Also, list any liabilities, such as loans or mortgages, to ensure they are accounted for in your will.
Step 2: Choose Your Beneficiaries
Decide who will inherit your assets. Beneficiaries can include:
- Family members (spouse, children, parents, siblings)
You can specify the share of assets each beneficiary will receive.
Step 3: Appoint an Executor
When creating your will, it's important to designate an executor who will ensure that your wishes are carried out according to your instructions. It's crucial to choose someone you trust and who is capable of managing the responsibilities involved. This individual can be a family member, a friend, or a professional such as a will lawyer.
Step 4: Draft Your Will
You can draft your will yourself or seek the help of a will lawyer to ensure it meets all legal requirements. The will should include:
- A declaration stating that it is your last will and testament
- Your full name and address
- A statement revoking all previous wills and codicils
- Details of your assets and beneficiaries
- Appointment of the executor
- Any specific instructions or conditions
Step 5: Sign Your Will
You must sign the will in the presence of at least two witnesses. The witnesses should not be beneficiaries or their spouses. The witnesses must also sign the will, affirming that they witnessed your signature.
Step 6: Store Your Will Safely
Keep the original will in a safe place, such as a secure drawer or a bank locker. Inform your executor and close family members about the location of the will to ensure it can be found easily when needed.
Updating Your Will
You can update or change your will whenever you want. You can do this by creating a codicil, which is an addition or supplement that explains, modifies, or revokes part of your will. Just make sure that the addendum follows the same legal formalities as the original will.