Make sure you create your will:Learn complete legal process, the information required, and the 10 legal benefits of making one

People hustle their entire lives to fulfill their family’s needs and build assets. But amidst all this, they often forget to decide what will happen to these assets after them. The best solution for this is a will.
It is a legal document in which a person decides who will receive their property, bank balance, investments, and other valuable items after their death. A will can also save the family from disputes, stress, and legal hassles. Today, in the ‘Your Money’ column, we will talk about wills. We will also learn about- Expert: Rudra Vikram Singh, Advocate, Supreme Court Question: What is a will? Answer – A will is a written legal document in which a person gives clear instructions as to who will own their property after their death. It determines the distribution of bank balance, property, investments, jewelry, and other assets. Question: Who can make a will? Answer – In India, any person who is 18 years of age or older and is mentally sound can make a will. However, the person should be able to prove that they prepared this document without any pressure, fraud, or greed. Question: Why is it important to make a will? Answer- Through this, a person can decide who will be the owner of their property after death. If a will is not made, the law distributes the property according to its own rules, which may be against the person’s wishes. Additionally, a will reduces the chances of disputes within the family and simplifies the legal process. This is especially important when multiple family members are claimants to the property. See all its benefits in the graphic- Question: How to write a will? Answer- There is no fixed format for writing a will, but it is necessary to follow some rules. Such as- Understand its complete process with graphics- Question: What information should be included in a will? Answer- Your personal and financial information should be clearly recorded in the will. It should include the full name, date of birth, address, and identification details of the person making the will. This information should be as per the Aadhaar and PAN card. It is necessary to provide details of all your movable and immovable properties, such as house, land, bank accounts, investments, etc. What other information is necessary, see in the graphic- Question: Is it mandatory to register a will? Answer- In India, it is not mandatory to register a will. You can make it legally valid by writing it on a plain paper, provided all necessary conditions are met. However, registering a will increases its authenticity and makes it difficult to challenge in case of any future dispute. Registration keeps the documents secure and reduces the possibility of tampering. Question: What are the legal terms in a will? What do they mean? Answer- It contains several important legal terms. Let’s understand them one by one. Question: What is a Digital Will?
Answer- A digital will is a document, often kept secure online. It states who will receive a person’s digital assets after their death, such as- It clarifies who will get access to these accounts. In modern times, it is as important as a traditional will. Question: What happens if a will is not written? Answer- If a person dies without writing a will, their property is distributed according to the law. In this situation, personal wishes are not given any importance, and the property is distributed according to fixed legal rules. Question: Can a will be changed? Answer- Yes, a will can be changed at any time during one’s lifetime. If there are changes in your property, family situation, or wishes, you can create a new will. It can also be amended. As soon as a new will is made, the old one is automatically revoked. The entire process, similar to a new will, must be followed even when making amendments. Question: Is the nominee the real owner of the will? Answer – No, the nominee is only a trustee; they are not the real owner. Their job is to safeguard the property and deliver it to the rightful heir. The legal owner is the one whose name is written as a beneficiary in the will. Question: Can a will be challenged? Answer – Yes, a will can be challenged, but this only happens in limited circumstances, such as- Therefore, it should be prepared with clear language, the correct procedure, and reliable witnesses. Question: Where should a will be kept safe? Answer – Keep the will in a safe place, but also ensure that it can be easily found after your demise, such as- If the will is registered, a copy of it remains deposited in the Registrar’s office. The executor should be informed about it, so that they can implement it when needed. Question: What happens to joint property? Answer – In joint property, you can only bequeath your share of the property in the will. For example, in the property of a husband and wife, you can only distribute your own share.
Therefore, clearly state in the will which property is individual and which is joint, so that there is no dispute in the future.