Will is a legal declaration of the intention of a person, with respect to his property or estate, which he desires to take effect after his death. The important questions that arise are as to why and when one should draft a will of the properties owned by him for an easy transfer after the demise. The question as to why one should make a Will is answered in simple terms that you don’t want your loved ones to be fighting for your wealth after your demise. Hence, it is important for a person, irrespective of his age, who owns movable and immovable properties to execute a Will thereby declaring his intentions as to the distribution of the properties after his demise. Drafting a Will should be the first step in your financial life rather than the last. Also, the Will can be revoked, modified or substituted at any point during the life time of the person executing it, therefore even young people who own properties should execute a Will as the future is unpredictable. The criteria if any for executing a Will is that the person must be not be a minor and should not be a person of unsound mind and is to be made out of his own free will and in a sound disposing state of mind.
Though there is no legal or definite format in which a Will could be drafted however, its framework can be divided into certain stereotype inclusions in which the first part being the declaration to the effect of the free will of the person and also giving the personal details and details of any previous Will which will be overridden. The second part provides the details of the movable and immovable properties, with their full description. The third part details the manner in which the distribution of the properties is to take place. This part is important and should be drafted in a systematic manner with clear-cut demarcations so as to avoid any confusion or future complexities. The final part constitutes the signatures of the testator along with the two independent attesting witness. It is advisable that the independent witnesses should not be the beneficiary under the will. To give the document its legal sanctity it ought to be registered at the right Registrar’s office.
Though the law gives every person the right to choose the manner in which his property should be distributed after his death however, the trend in India is that this right is seldom availed thereby leaving the majority to fight property cases in courts. Due to the unawareness and the laid-back, careless and delaying attitude the majority still miss out in drafting a Will, hence, leaving the margin of error after their untimed demise. Therefore in order to let your loved ones enjoy the fruits of yours assets, in an orderly manner, it is always advisable to take up the task of executing a Will as soon as one procures any asset.
(The writer is an advocate practicing at Supreme Court)