Estate planning · Will
What is a Will and who can make one
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Facts
Anyone above 18 years of age, of sound mind, can make a Will. There is no prescribed format, a Will can be written on plain paper. It must be signed by the testator (person making the Will) and attested by 2 witnesses who must not be beneficiaries. Muslims are governed by Muslim Personal Law (intestate shares fixed by Sharia), but can bequeath up to 1/3rd of estate by Will to non-heirs.
Provisions and law
- Indian Succession Act 1925, Sec 59, 63 | Hindu: Sec 30 HSA 1956
Analysis
Anyone above 18 years of age, of sound mind, can make a Will. There is no prescribed format, a Will can be written on plain paper. It must be signed by the testator (person making the Will) and attested by 2 witnesses who must not be beneficiaries. Muslims are governed by Muslim Personal Law (intestate shares fixed by Sharia), but can bequeath up to 1/3rd of estate by Will to non-heirs.
Conclusion
- Declaration that this is your Last Will and Testament and revokes all previous Wills
- Testator details, full name, address, age, PAN
- List of all assets, property, bank accounts, investments, jewellery, digital assets
- Beneficiary names, relationship, full name, Aadhaar/PAN
- Executor name, the person who will carry out the Will's instructions
- Signature + date + place
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