According to Indian Heritage Act 1914, Penal Code (2) will is defined as follow.
Self -desire gets to declare to How to distribute the property among the heritor after death in written format means will deed.
1.Language and wording of will: It must be very neat and clean so that they don’t make any doubt about the motive.
2.Neat and Complete Description of property.
3.Wealth List: First of all make a list of all movable and immovable property. Life insurance and all insurance policies, Company shares, gold, Mutual fund, Property etc.
4.List of Inheritor.
5.determine property/wealth distribution: which movable/immovable property given to whom by which motive means. For determine consider the future, Eligibility of person and later dispute.
6. As per need appoint loyal executor: No need to appoint but if there is a situation of a dispute then appoint one loyal person to solve the dispute. This kind of situation arises when property/wealth is more.
7.Management of tax of inheritor: According to property distribution the property tax should be paid by who has the right of that property so consider this also for this take help of Master of an estate planner and certified financier planner.
8.Sign: sign all pages if there are more pages it is most important.
9.Witness: witness should be a wise, competent, Known person. And consider that witness because of will witness must not have any advantage.
10.Registration: it's not mandatory to register/notaries the will but to avoid the dispute and confusion its always better to register the will. The main advantage is if any reason will get lost then also certified copy will be available with sub-registrar.
Will must have fitness medical Certificate.
it's very important to take fitness medical certificate to show that at the time of writing the will testator is mentally and physically stable.
The person who declares heritor of the self-made property as well as the inherited property of his partition. And also declares the distribution of property after his/her death in a written format that written document called as will deed.
It is not necessary but if you register the will deed then there is very minor possibility to dispute between inheritor. Property distribution made easier.
After the sign of will deed testator at any time, he/she can register the will. There is no time-bound.
will deed testator resides under which sub registrar or will deed sign under which sub-registrar or any sub-registrar which is suitable to will deed testator.
There is no need for stamp only need 100 Rs registration fee to register the will.
To get a certified copy it's divided into two subparts.
1. Before the Death: If testator of Will deed is alive then it can be received by him-self/her-self only or power of attorney holder for a specific task not other than that.
2. After the Death: certified copy can be received by anyone the only condition is that he/she needs to submit will deed testator death certificate.
Usually, people decide to write there will between the age of 60 to 70 and many of them die without write will. According to a survey in India, 80% of people die without writing will. And this cause on their inheritor as follows.
The distribution of property not done as per wish after his/her death hence that is not possible to distribute the property as per eligibility of person after death. If will deed not written then all the property get distribute equally in all inheritor.
Distribution of the property done according to the following act.
a.Indian succession act
b.Hindu succession act
c.Muslim Personal law.
1. As per law after the age of 18, a person can write a will.
2.When person is stable mentally.
3.The person who has wealth and life insurance policy.
4. One person can write will in many time in his life which is the last will written at last that will get considered.
●Will divided into three subparts.
a. Write the motive of the testator as per law.
b. It must be a public resolution about wealth.
c. It needs to state very clearly and neatly
Will is always a better option. After the death of the testator, the nominee does not have property rights. If inheritor demand for such property then nominee needs to handover the property to the inheritor.
In some cases according to will partition law process takes a lot more time. In such cases to obey the court process needs to take succession certificate. Its take time around 6 to 12 month. And it also needs to pay 8 to 10 % court fee and other court expenses.
When will get challenged or it's under doubt that time needs to get will probate from the court.
To get probate, the court will inspect the Newspaper notice, Witness, beneficiary, executive(कार्यपालन), trusted people and doctors further all property documents get to inspect in front of the court.