WILL
A will is a legal document/declaration by which a person, the TESTATOR, expresses his wishes as to how his property should be distributed after his death. The concept of ‘Will’ clears remove the burden on the courts and judges that is how to distribute property in case any ambiguity arises.
The definition of will is given in Section 2(h) of Indian Succession Act 1925, ‘“Will” means the legal document of the intention of a TESTATOR with respect to his property which he desires to be carried into effect after his death.’, Will made by a Hindu, Sikh, Buddhist or Jain are governed by this act and not of Mohammedans.
Executor of the Will – The TESTATOR should appoint an Executor to his Will. An Executor is a person who shall implement the Will after the TESTATOR’s death.
Everybody has the right to give/bequeath the self-attained property to anyone he feels should own that property after his death. Provided that it can only be made with respect to the property that the TESTATOR owns or has rights over. The simple rule is that one can only give what one has. There is no way that one can give away something that one does not have.
Key Ingredients of will
1) Personal details of TESTATOR, executor and beneficiaries – Name, Address etc.
2) Statement indicating that this will is made by the TESTATOR himself in a fully sound mind and has attained the age of 21 years.
3) Proper specification of the property assets owned by the TESTATOR that is to be bequeath and to whom is to be bequeath.
4) Signature and Date of TESTATOR, Executor and of at least two Witnesses
Exclusions - The TESTATOR cannot give the ancestral property to anyone other than his heirs such will declaration shall be null and void. The TESTATOR has the right to give benefit the self-attained property anyone the TESTATOR wishes to give but not the ancestral property.
Note - Property acquired by the money received by disposing of the ancestral property is not self-attained property.
Will is revocable in nature, Section 62 of Indian succession Act 1925 states that has long as the TESTATOR is alive, he/she can revoke the will according to his/her wishes.
The most common type of wills are holograph wills. These are handwritten Wills made by the TESTATOR himself. One just need a pen and paper and two witnesses to make this type of will. But it is recommended to have expert or lawyer present at the time of drafting so as to avoid any grammatical errors or not to miss any key components.