Duplicate Wills

Duplicate Wills - Overview

Duplicate wills are copies of the original will created by the testator and can be made quite easily. According to Section 63 of the Indian Succession Act 1925, the testator must procure a second copy of the will, approve it, and have it attested the same way as they did for the original will. The testator may provide one copy, and the other may be kept in safe custody with a trustee, a bank safe, or a legal expert.

Benefits of Duplicate Wills

Having a duplicate will come in handy in many ways, for instance

• You will be able to manage your affairs after your death
• If you die without leaving a will, the intestacy rules, a set of strict laws, will govern what happens to your possessions and financial assets
• You can assure how your property and affairs are distributed by creating a duplicate will
• Additionally, it will guarantee that your preferences are accurately considered and improve the quality of life for the people you leave behind.

• Other generic benefits of having a duplicate will are

  • Protecting the family and the financial system
  • Presenting gifts of money and property
  • Lowering the cost of inheritance tax
  • Choosing a guardian for your kids
  • Selecting your managers
  • Avoiding inheritance disputes
  • Establishing a lifelong interest
  • Expressing your funeral desires
  • Preventing intestate's unwanted consequences

Features of Duplicate Wills

Most believe only wealthy people or those with complex asset portfolios require wills. However, having a proper will help clarify and prevent family issues. Without a will, the courts will reach a decision. A duplicate will registration have all the following information.

• About who obtains your assets, you can be open
• Details on the guardians of your children
• Details about legal heirs
• Heirs' access to the assets

Importance of Duplicate Wills

• A duplicate will is an added benefit for your kids
• It details about the total percentage of possession passed down to your kids post your demises
• It prevents family conflicts
• It prevents legal intervention
• You can write a robust will for yourself, but you should get it witnessed to lessen the likelihood of future legal problems
• Consider having trusts and legal experts draft your Will to ensure everything is in order.

Documents Required for a Duplicate Will

• Personal Assets

  You must provide copies of any documents about your assets to your attorney. People give the following common assets to other persons in their Will.

  • Any real estate certificates
  • The possession of any automobiles
  • Looking over account statements
  • Records for money market accounts
  • Stocks
  • Bonds
  • Retirement savings

• Other Features

  • Jewellery
  • Current debts
  • Mortgages
  • Auto loans
  • Consumer loans
  • Hospital or other healthcare expenses
  • Education loans
  • Home equity credit lines

Chosen Beneficiaries

Your attorney and the courts must be able to identify and locate beneficiaries when you leave assets to them and properly classify your property. You must therefore include specific information about your beneficiaries in your Will. At Vakilsearch, we expect important details about your beneficiaries like

• Real names
• Complete phone numbers and addresses
• Personal identification numbers
• Date of birth
• For any minor children, birth certificates or adoption documents

Why Should a Testator Draft a Duplicate Will?

The testator is the one who drafts the Will and decides the terms and conditions. So basically, they stand liable for all the aspects of the Will.

• The other Will would be automatically revoked if the testator mistreats the copy of the Will under their custody. Until the original Will is no longer on the account, duplicate wills are effective and offer trustworthy proof for testamentary reasons
• On the other hand, the validity of the duplicate will is still debatable. If the original Will is not included with the replica copy in the request for probate, it will be inferred that the individualist will is abolished
• On the other hand, the validity of the duplicate will is still debatable. If the original Will is not included with the replica copy in the request for probate, it will be inferred that the individualist will is abolished

Why Vakilsearch?

When it comes to Will we have the best attorneys with decades of experience. Our team can complete drafting the will in just three easy steps.

• Step 1: You can connect with reputable attorneys using our website
• Step 2: You will get the main draft in four days
• Step 3: Two iterations will be provided at no extra payment.