In this blogpost, Haridya Iyengar, Student, Jindal Global Law School, Haryana writes about the importance of will, how to make a will and how is a will executed.

People usually postpone the writing of a will because it is a tangible reminder of our mortality. However, it is one of the most important documents since it allows you to choose the recipient of your property. Without a will, the state will have to decide how your property is divided and among whom.

What is a Will?

A will is a legal document which states how you want the assets you own to be distributed after your death. It is a fluid document which, can be changed whenever you want and will take effect only when you die. However, a will had to comply with several laws before becoming valid.

A will can be made by anyone who is over the age of 21. In India, a will can be written on plain paper, and it is not legally necessary to make it on a stamp paper. While a will can be printed, it is preferable for it to be hand written to make it more authentic and easily verifiable.

Importance of a Will

Virtually every person requires a will because without one you cannot determine who receives your property. If you die without preparation of a will, your property is divided by the inheritance and succession laws which will depend on your religion. A common misconception people have about inheritance is that they believe the estate is automatically transferred to the spouse. However, children and sometimes even relatives can stake claims on the property.

Another important thing to keep in mind is the inconvenience caused to your family. Without a will, your family will have to prove their relationship with you, and this will cost them a lot of time and money.

How to make a Will in India

While there is no particular legal or mandatory format of making a will, traditionally these are the steps followed:-

1)  Declaration

A will should be started with a declaration stating your name, address, age and other basic information. It should also specify the time at which you are writing the will and a declaration stating that you are writing it in your full sense.

2)  Details of Assets and Documents

The next step would be to list down your important assets such as land, fixed deposits, postal investments, mutual funds, etc. It should also contain an indication as to where all these documents are stored. The best place to keep this is a bank deposit safety box along with your will.

3) Ownership Details

At the end of the will, you should mention the division of the assets and the name of the recipients. If a minor is mentioned in your will make sure to also mention a custodian who takes care of the asset until the minor reaches adulthood. This custodian has to be a trustworthy person. The inherited property will be divided as per law but, other wealth or property purchased by you may be divided the way you want. You may also set conditions for certain divisions.

4) Signature

Once you are done writing the will, you must sign it in the presence of two witnesses. The witnesses will have to sign it after your signature to prove that you have signed the will in their presence. The witness should not be a direct beneficiary but, a close friend or neighbour.  The envelope has to be sealed after completing all the formalities, and the seal must bear your signature and the date of sealing. The seal does not need to be signed by the witnesses.

Execution of Will in Court

You can choose to get the will executed in court or in the presence of a magistrate. This is to make the process division easier and smoother.

Importance of a Probate

A probate is a copy of the will, certified under the seal of the court. The executor has to file a probate petition in the court of law which usually takes six months to a year. The rights of an executor or legatee will not be established until the court grants a probate of the will. Probate can be granted only to the executor of the will.