What is Will?
A Will is a document made by a testator in the written from stating the manner in which his property must be distributed after his death.
Will document is a very important and easy tool to ensure smooth distribution of wealt ur loved ones as per your wishes.
A document stating how and to whom a person wants his/her property transferred after death. In addition to transferring property, a will may specify how certain responsibilities are to be performed. For example, a will may state who shall take care of the decedent’s minor children, how they are to be educated, and so forth. A court must enforce the provisions of a will unless there is some overriding legal reason for it not to do so. Many advisers recommend writing a will to ensure that the writer’s wishes are carried out.
Get A Free Quot
Who can write Will?
- – Any persone above 18 years of age.
- – Having sound mind.
- – Free from any influences.
- – Not debarred from making a will.
Benefit of Will
- – Consolidation of All Assets.
- – Appoint Guardian for your Children.
- – Avoid disputes over property.
- – Distribute assest as per your wish.
- – Get peace of mind.
What are consequences of dying lntesta
(Dying without writing a will)?
- – The major disadvantage is, no opportunity to appoint guardian for your minor children. This means that in your absence the court will appoint guardian for your children.
- – Lots of time and money will be wested, just to locate and consolidate your assets/property.
- – Distribution of the assets as per the succession laws of the religion, so all the legal heirs will get equal proportion in the property irrespective of wishes of the testator.
- – Your legal heirs hava to obtain Succession certificate for distribution of your financial assets.
- – Creating wealth for our family and future isju one aspect of financial planning however the process will be complete only when you decide what heppens to your accumulated wealth after you are gone.