Creating a Will is a vital step in ensuring that your assets are distributed according to your wishes after your demise.

In India, the process of preparing a Will involves understanding various legal requirements and adhering to succession laws.

Here's a step-by-step guide on how to prepare a Will in India, ensuring that it is legally valid and reflects your intentions.

1. Understand The Basics Of A Will

A Will is a legal document that outlines the distribution of your assets, including immovable properties, movable assets, bank balances, and other financial instruments like mutual funds and insurance policies. It is essential that the person writing the Will is of sound mind and acting independently.

2. Gather Your Assets

List all your assets, including bank accounts, mutual funds, movable and immovable properties, bank deposits, and other financial instruments. This comprehensive inventory will help you decide how to distribute your property among your legal heirs and beneficiaries.

3. Consider The Applicable Laws

Familiarise yourself with the Indian Succession Act, Hindu Succession Act, and other relevant succession laws applicable to your situation. These laws govern the distribution of assets and determine the legal heirs. If you own property in a foreign country, you should also consider the laws governing those assets.

4. Drafting The Will

You can draft your own Will on plain paper, as there is no prescribed format required under Indian law. However, it's important to ensure that your Will is made of your own free will and not under any pressure.

Consulting with legal advisors can help you make sure your Will covers all important details, like naming secondary beneficiaries and appointing Executors who will carry out your wishes. Be sure to include personal details such as your name, address, and the names of your beneficiaries.

5. Appointing Witnesses

For the Will to be valid under Indian law, it must be signed in the presence of at least two Witnesses. These Witnesses must attest to the fact that the person making the Will is of sound mind and not under any duress. A trusted person, who is not a beneficiary, is usually preferred as a Witness.

6. Include Specific Instructions

Clearly outline the distribution of your assets, specifying how each beneficiary should receive their share. This includes movable properties like jewellery and personal belongings, as well as immovable properties. If you have minor children, appoint a Guardian for them.

7. Registering The Will

While it is not mandatory to register a Will, doing so under the Indian Registration Act can provide additional legal protection. A registered Will is more difficult to challenge in court, and it ensures that the document is preserved in safe custody.

8. Consider Special Wills

If you're writing a joint Will with a spouse, consult with a legal expert. These types of Wills may have different legal implications and require specific formats.

Read more: 7 Reasons To Rethink A Joint Will: Insights For Effective Estate Planning

9. Review & Update The Will

It’s important to review your Will periodically, especially after significant life events like the birth of a child or the acquisition of new property. Update the Will as needed, adding heirs or altering property distribution to reflect your current wishes.

10. Safe Custody Of The Will

Ensure that the original Will is stored in a safe place. Inform a trusted person or legal heir about the Will's location, and have an open conversation with your family to ensure they are aware of your wishes.

Avoid storing the Will in a bank locker, as your beneficiaries will need to furnish the original Will to gain access to the locker in which it is placed. Open communication can help prevent confusion and ensure that your wishes are respected.

The Bottom Line

Preparing a legal Will in India involves careful consideration of your assets, the applicable succession laws, and the legal procedures required to make the document valid. By taking these steps, you ensure that your last Will reflects your wishes and provides peace of mind to your family members and loved ones.

At Yellow, we can help you with all aspects of estate planning, including Wills, Trusts, Powers of Attorney, Gift Deeds, Legal Heir and Succession Certificates, and Living Wills. We also offer post-demise and asset transfer services. Our team of legal experts has more than 50 years of combined experience.

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