Things to consider before writing a will
A will is a lawful announcement, by which a person, entitles one or more persons to manage his estate and provides for the transfer of his property at death. A person who creates a will is known as testator.
As per the law, if a person dies intestate, his assets after his death will be distributed as per prevailing laws of succession at mandated by the statute. The recipients include the spouse, grandchildren, children or a charitable organisation. There is also a provision that names a guardian to take care of minor children.
Points to be considered before writing a will:
- While writing a will, a person should list out all the assets they own. It should be written clearly along with the name of the intended beneficiary and in what ration the assets should be transferred.
- In case the will is hand written, the testator should make sure that his writing is legible. If the testator is old, he/she should ask others to write or get it typed to avoid further confusions.
- In case there are any disputes in the ownership of all the assets, the testator can seek a legal professional’s help to draft the will. This helps in ensuring that there are no loopholes or uncertainty in the writing.
- The will need not be written in a stamp paper or get it registered.
- The testator should declare that he cancels all previous wills.
- A person to be appointed as the executor of the will by the testator.
- The testator should ensure that he signs at the end of every will and on every page.
