We have heard so many stories pertaining to Will, in real
life and seen depicting dramas in movies. But do we really know what it exactly
means the way it has to be made, different kinds of Will and the Execution in
the article, we give you a broader picture about the Will.
A Will is a private and confidential document written by a
living person declaring as to how he would like to disperse and distribute his
properties according to his wish, after his death. It is the final expression
of the person's desire existing at the time of his death. The person who makes
a Will is called a Testator (male) or Testatrix (female).
A Codicil is a document, which alters or adds any provision
to the Will or rectifies any mistakes in the Will. It is not an independent
document like a Will but a part of it. It is an annexure to a Will. However, it
must be executed in the same manner as the Will.
Certain distinctive features can establish the authenticity
of a will. the distinctive features of a will are that, it is the declaration
of the intention of the testator as to disposal of his property after his
death; that the will is revocable; that it would be operative after the death
of the testator and that the legality of the property is such that the testator
could himself have disposed it when he was alive.
Law has not prescribed any particular form for writing a
will. The language used must be simple, clear, unambiguous and easily
understandable by common man and to the point. If a will is not in clear terms
the interested parties can challenge it in any Court of Law.
A will is written in the first person. It has no standard
form. a common form of will must have the date and place of execution; the name
and address of the testator, a clause revoking previous wills and codicils, a
clause pertaining to the appointment of Executors and Trustees, specific
mention of the names of the family members, details of the movable and
immovable properties, clear cut particulars as to who gets what, a clause
pertaining to the testator's soundness of mind and health and his knowledge of
what he/she has written.
Oral Will is applicable to Muslims only. It is otherwise
called Hiba.
Holograph Will:
Holograph Will means a Will written in Testator's own
handwriting generally. After the Will is written, the Testator has to sign it
and get his signature attested. This will without signature and attestation is
invalid.
Two persons, generally Husband and Wife, are involved in
making a Mutual Will. In this Will, the Husband and Wife mutually agree to
bestow upon each other the reciprocal benefits in each other's property,
subject to other clauses in the Will.
Joint Will:
It takes two or more persons to execute a Joint Will. This
Will is made to dispose of their joint or separate properties jointly. Any one
of them or the Survivor can revoke the Will. In such an event, if one Testator
dies the Will will be considered as his Will and when the other dies it will
again be considered as the Latter's Will.
It is another kind of Will, which comes into effect on the
happening of an event or condition. It is a Will to do or not to do something
if some event does or does not take place.
Statutory Institutions like Government Departments, Public
Sector Corporations, Post Office, LIC, and Nationalized Banks provide for a
Policy Holder or a Fixed Deposit Holder, an option to propose his or her
Nominee in the event of death. In that event, the benefits will go to the
Nominee. Nomination is generally in the nature of a Will and restricted to each
item of Policy or Security.
A Soldier, Airman, or a Seaman engaged in warfare or
adventure is allowed to make a Privileged Will. The privileges given among
other things are that the Will can be written or oral. If the Testator writes a
Will, it need not be signed by him and attested by a Witness. If some other
person writes it in whole or in part, it must carry Testator's Signature, but
witness attestation is not necessary.
It is a Will not made by a Soldier, Airman or Seaman. Anyone
who is a major can make this Will. He must be a person of sound mind and in
case of ill health; he must understand what exactly he is doing. The Succession
Act recognizes Privileged Will and an Unprivileged Will.
A Will must contain a stipulation with regard to Testator's
debts and liabilities. These will have first charge on the Testator's estate.
Under the Muslim Personal Law, a Muslim can make a Will
orally or in writing and there is no form as such for writing. If the Will is
in writing it need not be signed or attested. A person major in age and of
Sound Mind can make a Will and he can dispose of all or any part of his
property by Will. However, there are a few restrictions.
A Muslim can alter his Will during his lifetime or cancel any
inheritance. A Will may be declared invalid if the person after making the Will
becomes insane and remains so till his death. Similarly, a Will which is
conditional or the future inheritance would also become invalid in the eyes of
Law.
Probate is a Certified Copy of the Will obtained from a Competent
Court of Law. A copy of the Will obtained through legal process establishes the
genuineness of the Will. For this purpose, the Will has to be submitted to the
Court. A petition along with the affidavits of the attesting witnesses has to
be filed in the Court. Probate duty and Court fee will also have to be paid. A
Christian Will must be probates before implementation. If the properties are
situated in more than one State, then the Application for Probate has to be
filed before any of the High Courts in which a part of the property is
situated.
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