What is a will?
Important Componants of Will
Testator is the person who is distributing his assets & wealth in a Will to his/her trusted parties. Testator has the freedom to choose his/her beneficiaries there is no compulsion that it has to be a Family Member only.
Executor is the most trusted person who carries out the procedure of the Will forward after the demise of the Testator and keeps a check that everything goes according to Testator's wish.
Beneficiary are the ones on whose favour the Will is being written and who get to enjoy the benefits of the Will after the demise of the Testator. It can be a friend, family members, orphanage, in charity, or even a trust.
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Yes, you can create online Will which is easy and affordable. It will eliminate all hurdles an individual face while visiting physically to the offices. We provide an online service for e Will wherein the customer can come and buy it while submitting the necessary details. Our portal is user-friendly and provide a complete authentic Document; the WILL that we provide has been drafted by the Legal professionals and as per the Indian Succession Act, 1956.
Yes absolutely, only the process of placing the Order is online; apart from that the execution process whether it comes to online or offline is the same. What matters is how the online WILL has been drafted and whether it has covered all points or not.
The authenticity of a e WILL depends whether all the necessary terms has been covered or not; Terms like:
- Whether the Property & other assets has been distributed properly or not.
- Whether the complete details of beneficiaries has been added like Name, Age, Residential Address.
- Who will be the Executor and their details.
- Whether the 2nd preferred Beneficiary in case of 1st beneficiary died has been mentioned or not.
- Whether Will has been prepared as per the Law. For ex: If you’re mentioning the Property then the Testator should be a firstly lawful owner of that property and secondly should mention the Property Details as per the Property Documents; Incomplete Address or wrong details can make a WILL legally invalid. Also, If the Testator is under joint-ownership then he is allowed to distribute only the authorized part of his/her ownership
Will is an important legal document that helps an individual to ensure effective distribution of their wealth and assets after their demise. We suggest each and every individual should have their own Will as without a Will the chances of disputes gets increases between the Legal Heirs as without a Will they need to release there rights among any one Legal Heir and need to go through certain Legal Formalities, when it comes to releasing the rights there can be certain disputes that will harm the bonding of the family.
Also there are chances of certain losses to all Legal Heirs as without any actual ownership of the property, the concerned property shall not eligible either for sale or for renting it out hence it is always advisable to prepare a Will.
As per the Hindu Succession Act, the Legal Heirs are divided into Two Classes i.e. Class I and Class II. The Priority and the Firsmost right on the Deceased asset is on Class I and in case Class I is not available then the right goes to the Class II Legal Heirs.
Under Hindu Male, alive grandmother of demise also considered as a Legal heir of the property.
We suggest that your should make a Will by a Legal Expert covering all the points in order to avoid any issue. If the Will would not be drafted properly then there are chances that the Will would be required to be probate which would be an additional step in order to get the asset distributed. Still, there are no restriction by the Government, anyone who is sound mind and not a minor can create their Will without a Lawyer.
But still it is advisable to take the help of a Lawyer/Legal Expert for drafting such a crucial Document.
Probate is basically considered as a Proof that a prepared Will is valid, genuine and nobody have any sort of objection. The process of Probate is that once the Will comes into an action i.e. when the testator dies, then the officials put the Will on a Notice-board for 90 days and wait for the objection; if no objection arise then the Officer Probate the Will.
Will usually does not required to be probated until and unless any Legal heir raise the question on the validity of the Will. Also, the executor is responsible for applying the Probation of Will and if the Executor is not mentioned then the Legal heirs shall be responsible for the same.
There are few requirements for a Will to be valid in India. These requirements are:
- The minimum age of a Testator should be 18.
- Testator should be of sound mind.
- The Details of Assets should be mentioned in the Proper Manner like for Jewelry the Weight should be mentioned, For Bank Deposits the Bank Details along with the Amount & Account number should be mentioned, For Property the complete address along with the Size should be mentioned as per the Property Document.
- A Will should have the signature of Testator and Two Witnesses with the complete details of Witnesses like their Name, Age, Father/Husband’s Name, Address.
- A Will should be registered at Sub-Registrar while paying complete Registration Fees.