What is a Legal Will?
A person’s legal declaration regarding how his assets will be distributed upon his death is known as a will. It is a unilateral document that goes into effect when a person dies, allowing you to make an educated decision about how your wealth, assets, and property will be divided upon your death.
A will is a legal document, but there is no set format for it because it can be written on anything, not just stamp paper, and it can be handwritten or typed. The owner can change or revoke a Will at any time before their death with the help of online legal advice.
As indicated by the India Progression Act, there are two kinds of legal wills:
- Privileged wills are those that are made by airmen or marines, soldiers who are working on an expedition, or soldiers who are in a war-like situation. These types of wills can be made verbally or in writing and do not require many formalities under the law.
- Unprivileged Wills are any remaining sorts of Wills and in the execution of these Wills, a ton of customs should be completed from check of marks till verification of witnesses.
Important Features of a Will
The two essential features of a will are:
- A Legal Will is a legal declaration of the testator’s intention to take effect upon his death. The declaration must include the manner in which the property will be distributed. A Will can be revoked or altered during the testator’s lifetime.
- In India, a Probate must be obtained from the court in order to begin the process of executing the will. A legal declaration of the will’s authenticity is called a probate of will. It can be obtained by submitting a petition to the court, attaching a copy of the will and a schedule of the property to the petition. In order to carry out the testator’s intent, it should be specifically prayed to the court for the grant of probate.
What elements should a legal will contain?
The following information should be included in a will:
- Details about the testator include the testator’s name, age, and address, among other information that can be used to determine who is making the will and when it was drawn up.
- Declaration: When drawing the will, the testator must affirm that he or she is free from any coercion and of sound mind.
- Information about the beneficiaries: The beneficiary’s name, age, address, and relationship to the testator should be included in the information about who will benefit from this will and how the assets will be divided.
- The agent of the will – It is vital to delegate an agent who might guarantee that the will is done by the headings given by the departed benefactor. The testator’s name, age, address, and relationship to the testator should also be mentioned.
- Subtleties of property and resources – It is relevant to drill down every one of the subtleties of the resources and properties that a departed benefactor has, and which are the ones that will be included in the will. He/she can likewise drill down on particular resources that are there.
- Share division: The specifics of who will receive what, or the share that each beneficiary has in the property, must be listed in full detail. A custodian for the minor should also be included in the will if the asset is to be given to a minor.
- Specific Instructions: The testator should give instructions on how to carry out the Will and specify whether there are any instructions. Witness: The testator should sign the Will in front of at least two witnesses. It is not necessary for the witnesses to be familiar with the specifics of the will; all they need to do is confirm that the testator signed the document in front of them.
- After the final statement, the testator should sign the document with the date.
Drafting a legal will can be complicated due to the specific clauses and information that must be added flawlessly for it to be valid according to the needs of the person. All of it can be ensured in a time-saving and convenient manner with online legal advice. Here you will find professional lawyers and consultants to help you out with anything that you require at the time of your legal trials or documentation.