1255439 SIP myths you must know!

Many people are confused about writing a Will, about the way to write it, the legal aspects etc. Here we will tell you how you can avoid mistakes while writingh a Will.

You can write your property’s will on simple plain paper, it doesn’t require stamp paper.

A will is a document that dictates how a person’s assets will be distributed after his death.  The person who creates or writes the will is called the testato.  The person mentioned in the Will who would receive the property gets the assets of the family. A Will can be prepared on plain paper but it must have the signature of the testator.

Many people don’t sign in the presence of witnesses. Or they take witnesses signatures and later on they leave their signature on the will.

Such errors can create difficulties later. The testator should sign in the presence of witnesses. Immediately after the testator’s signature, at least two witnesses should sign on the Will.

This will establish that the individual has signed in the presence of witnesses, the witnesses will affirm this and they will leave their signatures too in the Will.

Ideally, one of the two witnesses should be a doctor. This will help you avoid disputes like when the will was made, the testator  was not a mentally ill person etc. Registration of the will is not mandatory, but registration is necessary for authenticity of the Will.

Many people only notarise the will, which is not sufficient. Registering the Will makes it more robust and assists in property related legal disputes.

To register the will, the testator needs to go to the registrar’s office and sign it. This confirms that the will is not fake.

Selecting an executor is crucial for executing the will.

it is essential for distributing assets according to the individual’s wishes. Consider appointing a close friend or relative as the executor.

It’s advisable that the executor is someone who doesn’t gain anything from the Will. Provide detailed information  about the distribution of assets among legal heirs to avoid confusions later on.

If you’re creating a Will today, specify how and to whom your property should pass on during your lifetime.

Also, consider mentioning clauses for future earnings and clearly define who receives what.

You can always update your Will from time to time. The last updated Will made by the testator will be valid. Seek legal help if needed, as Wills can face challenges in court. Recording a video while making of the Will can reduce legal hurdles. Mention in the Will if someone is intentionally excluded from getting a share in the property.