Have you ever think about what will happen to your property once you leave for divine residence. The complications, conflicts and risks involved in the distribution of property would be poorer than what one can imagine. History has seen many cases when big business brothers have battled and quarreled over the division of their father’s property. All these arguments could have been avoided by a simple document commonly known as WILL.
Before moving forward let me brief you what exactly a will is.
In simpler terms, Will is a legal declaration by which a person (testator) provides for the distribution of his property after his death to the name of one or more persons. In other words, it is a means of legally defining, who will inherit the testator’s property after his death.
Being a testamentary document made by the testator in written format, Will comes into effect only after their death. If a person dies without stating the way for distribution of his property i.e. drafting a Will then it may lead to disputes among family members and possibility of litigations in the court. Hence, it is always recommended to draft and register a Will before it’s too late.
A Will can be drafted anytime during the life. No restrictions are applied on how many times does a testator is altering a Will. A person can amend, edit or cancel his Will as many times as he needs after revoking the previous Wills.
There are certain severe disadvantages and problems your loved ones can face if don’t make this simple document called will like:
- Your family members may waste time trying to find out whether or not you did write or draft a will.
- Time involved in tracing your possession
- More time and money to divide your estate
- No guarantee that a proper relative/executor will be appointed to sort or manage your assets
- The law will decide how your property will be distributed
- Your relatives or family members will have to pay inheritance tax
Also Wills can include certain other provisions such as you can appoint a guardian to take care of your children and you can express your preference about funeral arrangements. Also any wishes about the use of body for medical purposes after death.
In a Will, testator can give or bequeath –
- Everything they bought from their income
- Asset or property that they inherited without conditions on future use
- The share of every other significant assets
- Only 1/3 of the assets, if they are a Muslim.
There are three people involved in a will drafting/registration
- The testator – a person who makes the will
- The beneficiary – a person, organization or group of persons who are left something under the will.
- The executor- The 3rd party, the executor or the personal representative, example- your lawyer.
What would happen if any person dies before writing a will? The succession of property under this situation is dealt under different personal laws. Contact LexOracle to know more.
LexOracle team of lawyers has decades of experience in dealing with intestate (a person who dies without writing any will) succession and testamentary succession (WILLS).They can perfectly prepare a Will that survives and is in consonance and compatible with both existing personal Laws and property laws. The most vital part of Will is not making the one but drafting it in such a way that it withstands and is in compatibility with the law of a land.
Q) What is a Codicil?
Q) Do we have to register the Will?
Q) Can a Will be revoked? If yes, then how it is to be done?
Q) Does Will have to be done on a Stamp Paper?
Q) What is the benefit of registering a Will?
How it is done?
Make your WILL appropriately drafted and registered by qualified lawyer along with all the important clauses.
Step1:- Receive free expert counseling on Will Drafting from our expert Property & Matrimonial Lawyer
Step2:- Provide basic input regarding Assets, Liabilities, number of beneficiaries, conditions that you wish to have on WILL and allied information
Step3:- Make Payment
Step4:- Receive the Draft (If it’s not up-to your liking? Make another one which better suits your needs. We give you 3 free re-iterations)
Step5:- Get it done on stamp paper (Optional, as per your wish)
Step6:- Get it Registered (Optional, as per your wish)
Click on apply now and get it done right away!!
|Packages Starting from||INR 5,499/-[ All postage charges]|
LexOracle offers an All-inclusive, comprehensive and economical packages starting from JUST INR 5,499/- including the postage charges and registrations.Our Veteran Property lawyers will get your first draft done within 7*Days.
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Prices are inclusive of Taxes.
*Time period quoted is tentative and approximate
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