How to Make a Will this is what i am going to show you in easy way with step by step instructions so that you can easily draft your will.
A Will or Vasiyat is your direction that after your death, your asset, property, jewellery etc will be distributed to whom, that you have to mention.
Since when you will not in the world you would like the person should get your belongings easily without him\her to struggle. So proper distribution should be there of your assets to the people whom you want to.
To do this you will have to write a will or you will have to make your will with the help of lawyers and should be done before your death.
If you die without preparing your will in India, your wealth will then be distributed as per ‘Hindu Succession Law’ (Government rules, on how wealth should be divided among family members).
There are mainly two types of will Privileged and unprivileged Will. Privileged will is created by a soldier, mariner, navy person or airman. Unprivileged will is created by every person except the above people mentioned in privileged will.
There is no defined format to make your will, instead it can be written on a plain paper and require your signature along with of two witness.
However few things we will have to keep in mind while writing the will which I am going to explain brief. However before that let me tell you there are sites that can prepare your will online they will however charge some money and a professionally written will you will get.
Two major sites I found which are mentioned below
However many sites are there, but I am going to tell you the free way you can write your will easily without spending money.
Points to be considered while writing a will are
Declaration : In initial paragraph, you will have to declare that you are making this will in your full senses and free from any kind of pressure. You will have to mention your name, address, age, etc. at the time of writing the will so that it confirms that you really are, in your senses.
Details of Assets like Property, shares or any Documents(Fixed Deposit, Bonds etc.) : In the next step you will have to provide list of all items which you want to add in the will like house, land, bank fixed deposits, postal investments, mutual funds, share certificates owned by you. You must also indicate, where all these documents are stored by you. In all probability, these are in your bank safe deposit box. Even the will should be stored in there. Make sure you communicate it to the executor of the Will or your family members about your will location.
Ownership : At the end of the will, you should mention who should own your assets items and in what proportion, after you have gone. If you are giving your assets to a minor, make sure you appoint a guardian of your assets till the individual you have selected, reaches an adult age. This guardian obviously, has to be a trustworthy person.
Signing the Will : At the end, once you complete writing your will, you must sign the will very carefully in presence of at least two independent witnesses, who have to sign after your signature, certifying that you have signed the will in their presence. The date and place, also must be indicated clearly at the bottom of the will. Make sure you and the witnesses sign all the pages of the will. Choose your witness carefully. The envelope has to be sealed after completing all the formalities and the seal must bear your signature and the date of sealing. The witnesses need not sign on the seal of the envelope. The envelope should be safely stored somewhere llike in bank locker and your kin should be aware about that. Do not Make multiple copies of will.
Witness : It would be better if you can get one witness as doctor and one as lawyer. A doctor signing a will, won’t raise any question of you, being of unsound mind. The lawyer, will vet the will and make sure you don’t make stupid mistakes at the time of writing and signing it. The witness should be young enough so that they would be living after your death also they should not be having any ownership of your assets in the will.
Asset divided in %: The value of assets can be inflated so it’s always better to mention that how much percentage of the money will be given to a particular person.
Note: Never ever do overwriting and mistake in writing your will by hand.
You can also check our sample will format
Please watch the complete video for proper understanding.