Will Deed means the declaration of the intention of a testator with respect to his property which he desires to be carried in to effect after his death. Though the registration of Will is not mandatory but a registered Will Deed is the preferable mode to transfer your property and assets as per your wish. You can specify the division of your property and assets as per your wish.
A Will or Testament is a legal declaration by which a person, known as the testator, names one or more persons to own and manage his properties and assets after his death. In other words, a will provides for the distribution and transfer of the property of the testator after his death and hence, should always be registered. (Will registration after death) A Will can be made by anyone who has attained the age of majority in India. A Will is a statement made by the testator in the written form stating the manner in which his estate/property must be distributed after his death. A Will being a testamentary document comes into effect only after the death of the testator. If a person dies without writing any Will then he is said to be have died intestate. Such a situation may lead to disputes among the family members / legal heirs after the death of the testator with regard to the distribution of the property and there may be the possibility of litigations in the court. Therefore, it is always advisable to get a will drafted and registered before it’s too late.
What is the process of Registration of Will?
The steps involved in the Registration of Will are as follows:
- The will is drafted/prepared by a lawyer/legal expert.
- A date is fixed for the Will registration in the Sub Registrar office.
- The Government registration fee has to be paid.
- The testator and 2 witnesses visit the sub registrar office on the fixed day for registration.
- Registered will can be collected after a week.
There is no restriction on the power of the testator to bequeath his self-acquired properties. The testator can bequeath his movable and immovable properties either to his family members like son, daughter, mother, father, brother, sister, grand children or even to strangers such as temple, religious or charitable trusts etc. through a registered will deed.
A Will can be drafted at any time during the life of a person. There is no restriction on how many times a Will can be altered by the testator. A person can cancel, amend or change his will as many times as he wishes after revoking the earlier will. After the death of the person, only the Last Will executed by the testator shall be effective. Successions planning through a will are important for ensuring transfer of wealth in an organized manner and avoid any sort of confusion. It ensures that wealth is transferred to the person the testator chose, that the interests of the weak or of minors are provided for, that the assets are distributed without and disputes in the family and that the wealth is transferred to trusted people who will respect what the testator has accomplished.
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