It is crucial to write a will as this will help avoid disputes between your heirs. Read on to know about some crucial points that can make writing a will a smooth process for you.
Recently, newspapers in the national capital were flooded with reports on how property feud resulted in brothers killing or attacking each other. This happens mostly when a person dies without making a will leading to bad blood between his heirs. The result is a prolonged family feud or a tedious process for the heirs to arrange for necessary documents to claim their right to the property. Thus it is always wise to make a legally binding will so that your wealth is distributed among your heirs as per your wishes.
If you are planning to write a will, then remember these important factors:
What Is The Proper Age To Write A Will?
There is no set age to make a will. Any person who is of sound mind, free from any coercion, fraud and undue influence and is over 21 years of age can make his/her will. It is advisable to make the will at a relatively young age when all our faculties are working properly to avoid disputes at a later date.
Is It Mandatory To Have The Will Typed?
Both handwritten and typed wills are legally admissible. And there is no fixed format for a will and there is also no need for a lawyer to draft your will. But taking the help of a lawyer would reduce any chances of misinterpretation or frauds. It also reduces the probability of the will being claimed as invalid in the court.
What Is The Importance Of Date, Witness, And Registration?
It is not mandatory to register a will but you are well advised to get your will registered so as to avoid frauds or tampering. Registering the will is a simple process whereby you register your will with the registrar/sub-registrar by paying the designated fee. You need to be present along with two witnesses. Remember that both the witnesses should preferably not be the beneficiaries of your will, and are trustworthy and reliable. It is very important that the will carries a date as it is legally required and signifies that this is the latest will.
Can A Will Be Updated?
You should periodically go through your will and update it according to your current financial status and preferences. For example, if you have bought some property or shares since you had made the will, then the will should be updated accordingly. But, do mention the date of operation along with the words – This will supersede all previous will’’.
How To Sign And Use Names In A Will?
Always use the full legal names of beneficiaries along with their date of births and postal addresses. The same applies to the person making the will and so you should never use nicknames or initials. All signatures on the will should be in full not just initials. This is applicable to the witnesses too who should also sign in full and it must be ensured that their names and details are mentioned next to their signatures.
There is no fixed format of a will but you must ensure that all pages of the will are serially numbered and each page is signed by both you and the witnesses to prevent fraudulent substitution and or replacement of pages.
These are some important points to remember while writing a will to ensure that your property is distributed amicably and as per your wishes.