Will

Definition

A testamentary document by which a person bequeaths his property to be effective on his death is a will. The property will devolve on the person in whose favour it is bequeathed after death of testator.

Essentials of a valid Will

• Any person above the age of 18 years and mentally sound may execute will but will caused by fraud or coercion or by importunately will not be valid. Therefore, a will must be executed voluntarily.
• Parents or guardians cannot execute will on behalf of minors or lunatics.
• Attestation by minimum two witnesses is necessary.
• Scribe (deed writer / advocate) cannot be called witness. Two independent attesting witnesses other than the scribe or necessary.
• Beneficiary under a will should not sign as attesting witness.
• In order to avoid disputes in implementation of a will, description of property and the beneficiaries should be clearly be written without giving room for any doubt.

Registration of Will

• It is not compulsory to register. Executants may register at his option. However, It is better to register the will. If original is lost a certified copy can be obtained from Sub-Registrar Office.
• It can be registered in any office of the Sub Registrar in India
• There is no such time limit to register the will.
• Will can be registered even after death of testator. Claiming party under the will have to produce will, records relating to the death of the testator, witness and the scribe before the Sub Registrar. If Sub Registrar is satisfied about the truth and genuineness of the execution of the will, he will register.

Cancellation/Revocation/challenging/Rectification the validity of will

• The testator can cancel his will at anytime during his lifetime. Such cancellation deed requires a Stamp duty of Rs.100-00.
• If executant of a will wishes to rectify, add to will may do so during his lifetime. This is called codicil. This document does not require stamp duty.
• The validity of will can be challenged in court.

Stamp duty and Registration fee to register a will

In Karnataka, there is no Stamp duty on will deed. For registration of will during the life time of the testator Rs.200-00 Registration fee prescribed. To register the will after the death of the testator Registration fee of Rs.200-00 and enquiry fee of Rs.250-00 is prescribed. Please Note: This may vary based on the jurisdiction.

Certified copy of a registered will

A certified copy of a registered will is available to the testator only during his lifetime. After his death anybody can obtain after producing proof of death of testator.

Confidentiality of Will

• Will can be deposited in a sealed cover in office of the District Registrar. A fee of Rs.1000-00 prescribed to deposit will in a sealed cover. Depositor or authorized person (executor) can withdraw the sealed cover containing a will, if desires to do so. A Registration of Rs.200-00 prescribed. Please Note: This may vary based on the jurisdiction.
• On making an application along with proof of the death of the depositor, District Registrar will open sealed cover in the presence of the applicant and it will be registered. Certified copy will be issued if desired. A fee of Rs.100-00 prescribed to open a sealed cover.

Content of Will

The contents of a will, also known as a last will and testament, typically include various important provisions and information. While the specific details may vary based on jurisdiction and individual preferences, a standard will generally includes the following elements:

?Title and Identification

The document is usually titled "Last Will and Testament" at the top.

The individual creating the will (testator) is identified by name and sometimes other details like address and date of birth.

?Revocation Clause

A statement revoking any previous wills or codicils.

Declaration of Sound Mind

The testator may affirm that they are of sound mind and under no undue influence or pressure while making the will.

Family Background

Some testators include information about their family members, beneficiaries, or other relationships. This can help establish the context for the distribution of assets.

Declaration of Intentions

The testator may declare their intentions regarding the distribution of their property, appointment of executors, guardianship of minor children, and any specific bequests.

Appointment of an Executor

Naming an executor (personal representative) who will be responsible for carrying out the wishes specified in the will. This person is often a family member, friend, or legal professional.

Guardianship Provision

If the testator has minor children, the will may include a provision appointing guardians to take care of them in the event of the testator's death.

Distribution of Assets

Specific instructions on how the testator's assets, including property, money, and possessions, should be distributed among beneficiaries. Beneficiaries are individuals or organizations named to receive the assets.

Specific Bequests

Details about any specific gifts or bequests, such as giving a particular item or sum of money to a specific person or organization.

Residuary Estate

Instructions regarding the remaining assets after specific bequests have been fulfilled. This part addresses how the residual estate should be distributed among the beneficiaries.

Contingency Plans

Provisions for alternative beneficiaries or instructions on what should happen if a named beneficiary predeceases the testator.

Debts and Taxes

A statement addressing how debts, taxes, and other financial obligations should be handled.

Funeral and Burial Instructions

The testator's preferences regarding funeral arrangements and burial or cremation.

No Contest Clause

This states that if any beneficiary under this Will contests the validity of this Will or any of its provisions, then that person shall forfeit any interest in the estate. However the validity of this clause is a debatble topic.

Witnesses and Notarization

The will must be signed by the testator in the presence of witnesses. Depending on local laws, it may also require notarization for added legal validity.

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