Will and Testament - Procedure and Drafting
Will is a legal document which describes the wish of the testator (person making a Will) for distribution of his properties after his death. Death is inevitable, but the time is not known. Unforeseen events like Corona Virus may lead to unexpected troubles, and protecting our loved ones from hardships becomes a priority. If we can arrange financial assets for our children, there is nothing like that. It is imperative to write a Will to avoid any fight among siblings for sharing the wealth and the financial assets. Recommended reading: Contesting a Will – facts and details Requisites of writing a Will The Law relating to Will is found in the Indian Succession Act, 1925. If a person dies intestate, the disposition of his property takes place as per Succession laws . A Will can be prepared by anyone above 21 years of age and of a sound mind. A beneficiary can be any person capable of holding property. It can be a minor or a company. A person can dispose of hi