Concurrent Wills

Make a will & transfer your property in your own way, in a hassle free manner. Keep your family free of legal headaches!

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Have assets in multiple countries? Get a Concurrent Will in each of the countries, you have assets in. This is because it will make the administration of the estate efficient. If there will be a conflict or dispute in relation to the will or estate, it will further not be complicated. There will be a clarity about the applicable law of the land. You can execute any number of concurrent wills for better planning of your estate. Estate is the valuation of all your investments and assets, including land, personal belongings, stocks, bonds and other securities

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Benefits of Concurrent Wills

Reduces time and efforts in making probate: For concurrent will, application may be made for probate of each will in the country to which it applies. Whereas for single will an application for probate is made in one country and then the probate is resealed in each country where the will must be proven.

Faster distribution of wealth: Concurrent Will paves way for passing on your wealth smoothly to your loved ones.

Tax purpose: Tax treatment to inherited assets differs across countries. Some countries impose higher taxes for properties to be passed on to individuals residing in another country. With multiple wills you are more likely to get tax benefits too.

Less legal complications: No two countries' laws and regulations are the same. For instance, Italy and France have forced heirship rules, which means you cannot transfer the asset to whoever you want to. For your will to be deemed valid, it must comply with all the formalities. As concurrent wills are drafted in accordance with the respective country’s laws, the legal complications are very less.

Points to remember:

Before proceeding with executing concurrent wills, you need to keep in mind the following pointers:

  • In case of Non-Resident Indians (NRIs), there may be an additional cost for drafting wills in each jurisdiction. Hence, you must consult with legal experts and lawyers.
  • Having multiple wills may cause confusion among your loved ones, especially if there are provisions that may contradict with each other. Get them well-planned with expert attorneys.
  • Usually while creating more than one will, chances are the new one may revoke the former will.

What does a will include?

A will does not have to follow any specific language or format. However, the person who is writing the will, called as testator, must include the following important components:

  • Appointment of a legal representative to execute the will and administer the estate. The executor can be a family member or the beneficiary of the assets.
  • Personal details of the testator like name, age, and address that can help in identifying who has written the will.
  • Declaration by the testator that he/she is of sound mind while drawing the will
  • Details of the assets and documents in all the countries like land, house, shares, mutual funds, bank deposits, etc.
  • Details of assets that may be inherited by any charity trust
  • Minors’ shares in properties

How to draft a will

  • Do a thorough evaluation of the estate in India and in foreign countries
  • With the help of lawyers make sure to adhere to all the respective countries’ laws. A will can either be written by the testator or through his/her lawyer.
  • The will must be signed by the testator and by two witnesses.
  • Get it stamped and registered for execution.

How to execute a will in India?

It is the responsibility of the executor to carry out the terms and instructions stated on the will and ensure the beneficiaries receive the right amount of shares in the assets.

Upon the death of the testator, the executor or the heir of the deceased must apply for a probate in the court.

A probate is a copy of the will that is certified by the court of competent jurisdiction. A probate proves the authenticity of the will and grants administration of the estate to the testator.

Wills covering overseas assets can be probated in the respective country. As per the Indian Succession Act, 1925 probates granted in foreign jurisdiction are valid in Indian courts and no objections will be raised. However, in some instances ancillary probates may also be required and it is always best to consult legal experts.

How to apply for a probate petition in India?

The executor can file a petition for the probate with the complete details of the Will and estate in the appropriate court where the property is located or high court.

The basic documents required are the death certificate of the deceased, legal heir certificate of the descendents eligible for bequeath.

Once the application for probate has been made, the Court will send a notice to all the legal heirs and it will also be published in the newspaper for any objections. If no objection is raised in probating the will and appointing the executor, the Court will grant the probate.

Documents required for making a will

As such, there is no need for any important documents for writing a will. You can draft your will with the help of legal professionals in a simple sheet of paper. However, you may have to keep the following things ready for better planning of your estate and to avoid any future legal conflicts.

  • Real estate documents like sale deed or title deed
  • Tax bills that may be able to help you in assessing your tax liabilities accurately.
  • Investment statements and other financial assets.
  • Business documents if your business can be bequeathed to your beneficiaries

Frequently asked questions

Yes, if you have assets in foreign countries you can have two wills. But it has to be in accordance with the respective countries’ laws. You need to make it clear in the testaments that any subsequent will in another country cannot replace the previous will.
The only challenge is that the wills must be drafted as per the applicable laws of the country. Different jurisdictions may have different laws.For example, in some countries a will not be considered valid if there are no provisions for child or spouse to inherit the property. Some countries may require signatures of three witnesses. Hence, it is highly recommended to consult with lawyers specialised in property and wills.
Yes, NRIs, persons of Indian origin, and foreign nationals who are not of Indian origin can inherit assets like agricultural land, plantation, farm land and residential and commercial properties.
As a testator you can include all your loved ones like parents, spouse, children, step-children, grandparents, grandchildren, relatives, friends. You can even bequeath to institutions, charitable trusts, community trusts, schools, temples.

Note: The information given here is generic and is subject to specific instances. Please consult with our expert lawyers and legal professionals for writing and executing your will.

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