Read this blog to know whether creating a will and registering it is mandatory or not
If you do not have much idea about a Will, let’s start with explaining the same in detail. So, for your reference, a Will is nothing but a legal instrument that is prepared to declare the intent of the Will maker concerning the way of disposal of their properties, money, assets after their demise. This blog will talk about everything related to Wills, its creation and the likes.
Are wills mandatory to be registered? No, there is no legal requirement to register a will. It does not even have to be on a stamp paper or notarised.
A Will – What is It?
A Will is a common term used in legal studies and it is a legal statement of an individual on a paper concerning the circulation of his/her belongings and assets to their kins after their death. It is an independent legal piece of holograph wills document that comes into effect after the death of the Will maker. In a Will, the person registers an informed decision regarding their wealth and every single property, and how they all will be distributed amongst their family or friends.
Will is basically a legal binding, however, there is still no prescribed format of the same. Hence, it can be either handwritten by the Will maker or even typed on any paper. But a Will should not be created on a stamp paper. Also, Wills can be revised or even revoked by the Will owner at any point in time prior to their demise.
Types of Wills
As per the Succession Act in India, Wills can be categorised into two different types: Unprivileged and Privileged.
- Privileged Wills: The Privileged will in India are the ones that are generally made by the ones serving in the Army and are employed in war-like situations. These are also created by mariners who needs to be in dangerous situations during most of their professional lives. Such Wills doesn’t have a lot of legal bindings and they can also be easily made verbally or in writing.
- Unprivileged Wills: The Unprivileged will format are the other types of Wills and in order to create these, one needs to follow a lot of legal formalities. Signature verification, attestation of witnesses, etc., are required for creating these types of Wills.
Elements of a Will
Wills usually have the following essential features or characteristics:
- The aim of the Will creator must be taken into consideration after his/her death;
- Wills are a kind of legal announcement of such intentions or aims of the creator;
- The declaration in a Will should mandatory involve the way of disposal of the assets and properties of the creator;
- Finally, the Will can anytime be revoked or changed during the lifetime of the Will creator or testator.
Can You Make a Will?
According to the Indian Succession Act’s Section 59, a person who intends to make a Will should be of –
- An appropriate age
- And have a sound mind
Also, the particular Section in the Act states that the person normally of unreliable and unstable mind may even create a Will when they were healthy. The Section also forbids a person from creating a Will when in a state of alcoholism or ailment that makes them incompetent of understanding the significance’s of the Act.
How to Effectively Make Wills in India?
You need to follow these steps to make a Will in the country :
- STEP 1: First and foremost, you need to be well aware of every single aspect mentioned above regarding Wills. Also, you need to follow all the guidelines mentioned in the Succession Act.
- STEP 2: Secondly, it is prudent to be in touch with a family lawyer or solicitor before you start drafting a will. You need to know that you can either write a Will on your own or ask your lawyer to make one of your behalf.
- STEP 3: The Will shall be implemented by guaranteeing your signature in the presence of at least two witnesses. Also, their signatures will be needed to make your Will.
- STEP 4: Finally, it is advisable for you to register your Will and stamp the document properly as it will ensure proper execution of the same in the future.
What Shall You Include in a Will?
The following details should be included in a Will
- Testator Details – Your name and age, along with your address and every single important detail that is needed to identify you as the Will maker.
- Statement – It is very vital for you to declare that you are in sound mind and is absolutely free from any coercion from anyone while making the Will.
- Beneficiary Details – The details regarding the nominees or beneficiaries of your Will should be provided properly in the testament. You should give their name, age, your relation to them, address, and so on.
- Details of Will Executor – Again, it’s vital to employ an executor of the Will who would guarantee that the Will shall be carried out as per the directions provided by you, as the testator. You need to include their name, age, relation, address, and so on.
- Details of possessions & assets – It is relevant to list out every single detail of the assets, possessions, properties that you have and that you wish to give away to your beneficiaries after your death. You need to create a list of all your belonging properly in your Will.
- Division of asset share – Now, you need to also mention the exact proportion of your possessions and what you are giving to whom. All of these should be duly listed in the Will testament.
- Specific Will Directions – The testator, you in this regard, need to give specific directions in terms of the Will execution, and should also mention if you have any particular instructions.
- Witness Statements – There should be signatures from at least two witnesses in front of a lawyer when creating the Will in front of them.
- Signature – Finally, you need to sign the Will and give a date, along with your last statement related to the content of the Will.
Advantages and Disadvantages of Will Registration
Advantages of Registration of Will:
-
Legal Validity:
– Registering a will enhances its legal validity, providing a formal record that can be easily authenticated in case of disputes.
-
Prevention of Fraudulent Claims:
– Will registration acts as a deterrent to fraudulent claims or disputes, as the registered document carries more legal weight.
-
Public Record:
– A registered will becomes part of the public record, reducing the likelihood of it being concealed or tampered with.
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Ease of Retrieval:
– The registered will is stored in a systematic manner, making it easier for beneficiaries and executors to locate the document when needed.
-
Peace of Mind:
– Will registration offers peace of mind to the testator, knowing that the document is officially recognized and has undergone a legal process.
Disadvantages of Will Registration:
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Costs Involved:
– Will registration may involve certain costs and fees, adding an expense to the estate planning process.
-
Lack of Privacy:
– Registering a will makes its contents a matter of public record, potentially compromising the privacy of personal and financial details.
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Formalities and Procedures:
– The registration process may come with formalities and procedures that could be time-consuming or complex.
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No Guarantee Against Challenges:
– While registration adds weight to a will, it does not guarantee immunity against legal challenges. Disputes may still arise.
Understanding Will Registration’s Legal Implications: If Registration of Will is Mandatory?
Is Will Required to Be Registered?
The registration of a will is not mandatory; an unregistered will is legally valid if it meets the necessary legal requirements. However, registering a will provides additional legal benefits, making it a prudent choice for many.
Is Will Registration Compulsory?
No, will registration is not compulsory. The decision to register a will depends on individual preferences, the nature of the assets involved, and the testator’s desire to ensure a smoother probate process and reduce the likelihood of disputes.
Understanding the legal implications of will registration is essential for individuals considering this option in their estate planning. While not mandatory, the advantages and disadvantages should be carefully weighed to make an informed decision aligned with one’s priorities and concerns.
Conclusion
We hope that you now have an idea of how to make a will in India. However, we must also tell you that creating a Will is not mandatory and it is totally dependent upon you or the testator. If you feel that you need to make one to make sure that your assets are equally divided between your successors, you can make a conditional will.
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