Drafting and registration of Wills
First step towards Estate Planning
A Will is legal declaration of intention of the testator (Author of the Will) with respect to his/her property to take effect after his/her death.
What are the prerequisites for a will?
Subject to community and jurisdiction specific laws, a testator or author of the Will Should:
- Be of sound mind
- Not be a minor
- Have free and clear ownership of the estate
- Be free from undue influence/fraud/coercion
- Should have clear title to the assets mentioned therein.
What are the contents of a Will?
The Contents of a Will should be the following:
- Name and address of the Testator (Author of the Will)
- The fact that the Testator is making the Will voluntarily
- Schedule of property bequeathed
- List of Beneficiaries
- Appointment of Executor
- Attestation of Will by atleast two witnesses