Making Will

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MAKING A WILL
As one becomes older there is a need to facilitate the easy disbursement of one's posessions and properties to one's loved ones and dependants, so that there will be no legal battles among them. For this reason it is advisable that everyone with some property or wealth should prepare a "WILL".
A "WILL" can be defined as "A legal statement written by an individual, stating the manner in which his or her wealth may be distributed after his or her demise." A person making a Will is known as a "TESTATOR".
It is best that one consults an advocate before preparing a Will. It would be better if the advocate is a person on whom you have the utmost confidence.
Here are some guidelines to prepare a WILL.
It is better to make a Will at a younger age. As and when events or changes in the family necessitate changes the Will can be changed. One of the advantages of making a Will at an earlier age is that unscrupulous relatives could contest the legality of the Will made by a very old person on the basis that the person was not of sound mind when the Will was made.
A Will must always be dated. If more than one Will is made then the one having the latest date will nullify all other Wills. In fact it would be better to make a statement nullifying all other Wills.
A Will should be Simple, Precise and Clear. Otherwise there may be problems for the legal heirs. Sometimes relatives and others may try to distort the interpretation of the Will for their own benefit. It is always better to take the advise of a trusted advocate.
A Will can be hand-written or typed out. No stamp paper is necessary.
There should be an Executor of the Will who would be entrusted with the responsibility of ensuring that the assets are distributed according to the provisions of the Will. Sometimes more than one Executor may be required to execute the Will. The Testator (person making the Will) should take the prior consent of the person whom he or she wishes to name as the Executor.
A Will should be signed by the Testator in the presence of atleast two Witnesses who have to attest the same. The full names and addresss of the Witnesses should be clearly indicated in the Will. It would be better if one of the Witnesses is a medical practitioner, but this is not essential. The practitioner should certify that the Testator is of sound mind (especially if the Testator is of an advanced age) and he or she should also note his or her registration number and degree (educational qualification). A Witness should not be a beneficiary of the Will. A Witness should also not be an Executor of the Will.
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