What Is a Will and Why Do I Need One Now?

Will Agreement

A will agreement is a legal document that sets forth your wishes regarding the distribution of your property and the care of any minor children. If you die without a will, those wishes may not be followed. Further, your heirs may be forced to spend additional time, money, and emotional energy to settle your affairs after you're gone.

Will document vary in their effectiveness, and none is likely to resolve every issue that arises from your death. Here's what you need to know about these vital documents.

A Written, Witnessed Will Is Best

To maximize the likelihood that your wishes will be carried out, create what's known as a testamentary will. The most familiar type of will, this document is prepared by the person whose assets are being dispersed and is signed by them in the presence of witnesses. It's arguably the best insurance against successful challenges to your wishes by family or business associates after you die.

Importance of Will planning

Will planning is important because the document always acts as an inventory of the assets left behind by the deceased. A clear and well-written Will Agreement also helps in avoiding any bickering among the natural heirs. And, if a person wants to distribute his/her wealth to anyone other than the natural heirs, the Will assumes paramount importance.

Who can make a Will

Any person with a sound mind and who is not a minor can bequeath his/her property with the help of a Will. People who are blind or deaf or dumb can make a Will if they understand the results of their actions as well as the legal consequences. A person who is ordinarily insane may also make a Will, but only when he/she has a sound mind. However, if a person does not know what he is doing, he can’t possibly make a Will Agreement in such a state of mind.

Registration of a Will

A Will Agreement can be executed on a plain paper and remains fully valued even if unregistered, i.e., it is not compulsory to register it under law. However, that does not stop a person from registering the same simply to put an end to any doubts raised over its authenticity.

If one wants one’s Will Document to be registered, one has to visit the sub-registrar’s office along with witnesses. There are sub-registrars for various districts and one has to find out from the concerned officials about the one who will help in registering it.

Types of Wills in India

Unprivileged Will

Will created by a person who is not a soldier employed in an expedition or engaged in actual warfare or a mariner at sea is known as an unprivileged Will. For an unprivileged Will to be valid, it must satisfy the following conditions:

• The person creating the Will Agreement must sign or affix his/her mark to the Will. Else, it should be signed by some other person as per the directions of the testator (Person creating the Will) in his/her presence.
• The signature or mark of the testator or the signature of the person signing for the testator must be placed so that it appears that it was intended to give effect to the writing as Will.
• The Will should be attested by two or more witnesses. The witnesses must have seen the testator sign or affix his mark to the Will or has seen some other people sign the Will, in the presence and by the direction of the testator.

Privileged Will

Privileged Wills are Wills that may be in writing or made by word of mouth by those in active services like a soldier, airman or mariner. The legal requirement for the validity of a privileged Will Agreement has been reduced to enable certain persons to quickly make a Will. The following conditions are applicable for a privileged Will:

• The Will can be written wholly by the testator, with his own hand. In such case the Will is handwritten, it need not be signed or attested.
• A privileged Will can be written wholly or in part by another person and signed by the testator. In such a case, there is no requirement for attestation.
• A document purporting to be a Will written wholly or partly by another person and not signed by the testator can be deemed a valid Will if it is proved that it was written by the testator’s directions or that the testator recognized it as his/her Will.
• A half-completed privileged Will can also be held as valid if by reason of circumstances it can be proved that non-execution was due to some other reason and does not appear to be an abandonment of intentions to create a Will.
• A privileged Will can be made by word of mouth by declaring intentions before two witnesses.
• If a soldier or airman or mariner has given written or verbal instruction for the preparation of a Will but has died before it could be prepared and executed, it would still be considered to be a valid Will.

Conditional or Contingent Wills

A Will can be expressed to take effect only in the event of satisfying certain conditions or can be contingent upon other factors. Such a Will, which is valid only in the event of the happening of some contingency or condition, and if the contingency does not happen or the condition fails, is called a conditional or contingent Will.

Joint Wills

Joint Will is a type of Will Document wherein two or more persons agree to make a conjoint Will. If a Joint Will is intended to take effect after the death of both persons, then it would not be enforceable during the life-time of either. A joint Will can be revoked by either or the person at any time during the joint lives or after the death of one, by the survivor.

Concurrent Wills

Concurrent Wills are Wills written by one person wherein two or more Wills provide instructions for disposal of property for the sake of convenience. For instance, one Will Agreement could deal with the disposal of all immovable property whereas another Will deals with the disposal of all movable property.

Mutual Wills

In a Mutual Will, the testators confer upon each other reciprocal benefits. A mutual Will can be executed by a husband and wife, during their lifetime to pass on all benefits to the other person during their lifetime.

Duplicate Wills

A duplicate Will can be created by a testator for the sake of safety or safekeeping with a bank or executor or trustee. However, if the testator destroys the Will in his/her custody, then the other Will is also considered revoked.

Sham Wills

Sham Wills are wills executed purporting to be a Will but held invalid as the testator did not intend it to have been executed as per his/her wishes. As per the Indian Succession Act, a Will Agreement made by fraud or coercion or by taking away the free agency of the testator is considered invalid.

Holograph Wills

Holograph Wills are Wills written entirely in the handwriting of the testator.

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