Legal Note:
There is no prescribed statutory format for a Will under Indian law. A Will may be executed in any language and may be either handwritten or typed. Legal or technical language is not mandatory, provided that the document clearly conveys the unambiguous testamentary intent of the testator. A lawyer’s assistance, though advisable in complex cases, is not a legal requirement. The Will may be made on plain paper. Stamp duty is not applicable unless registration is sought.
If the Will is to be registered, it may be presented for registration at the Office of the Sub-Registrar (Registrar of Assurances) having jurisdiction over the testator’s place of residence.
It is important to note that registration does not enhance the legal validity of a Will, although it may reduce the likelihood of future disputes.
Definition of Key Terms:
- Testator: The individual making the Will.
- Executor: The person appointed by the testator to administer the estate in accordance with the Will.
- Probate: A legal process through which a court certifies the authenticity of the Will.
- Administrator: An individual appointed by the court to administer the estate in the absence of a named executor or when the named executor is unwilling or unable to act.
Format of a Last Will and Testament
This Will consists of _____ pages.
I, [Name], son/daughter of [Father’s/Mother’s Name], aged ___ years, residing at [Full Address], do hereby declare this to be my last Will and Testament made on this [Date], at [Time] at [Place], of my own free will and volition, being of sound mind and memory, without any undue influence, coercion, or duress.
I hereby revoke all prior Wills, Codicils, or testamentary dispositions previously executed by me.
A. Declaration of Ownership
I declare that I am the absolute owner of the properties and assets mentioned herein and have full testamentary capacity to dispose of the same:
- Immovable Properties:
- [List full address, area, and boundaries of each property].
- In case of joint ownership, specify the name(s) of the co-owners and their respective shares.
- Cash and Financial Instruments:
- I maintain an average cash balance of ₹________ for emergencies.
- I hold various financial assets including Bank Deposits, Insurance Policies, PPF, Mutual Funds, Demat Account (Depository Name), and Jewellery. The original documents are stored in Locker No. ___ at [Bank Name, Branch].
- A detailed annexure of these assets is attached.
B. Directions to Executor Regarding Liabilities and Expenses
I direct the Executor to first utilise the following funds for the purposes specified:
- The cash in hand and balance in Savings Bank Account No. __________ at [Bank & Branch] shall be used for:
- Final medical expenses.
- Funeral rites and ceremonies.
- Payment of outstanding debts, liabilities, testamentary expenses, probate costs, and legal charges.
- The balance from the above shall be bequeathed to my wife, Mrs. [Name], to be used by her at her discretion.
C. Bequest of Immovable Properties
- I bequeath my full rights, title, and interest in the residential property at [Address] to my wife, Mrs. [Name], who shall have absolute and unfettered ownership.
- I bequeath my full rights, title, and interest in the commercial property at [Address] to my son, Mr. [Name], who shall likewise have absolute and unfettered ownership.
D. Bequest of Jewellery and Valuables
- I bequeath the following jewellery/ornaments to my wife, Mrs. [Name]:
- [List items]
- I bequeath the following to my daughter, Ms. [Name]:
- [List items]
- I bequeath the following to my daughter-in-law, Mrs. [Name]:
- [List items]
Each beneficiary shall have absolute rights over the items received and may deal with them as they deem fit.
E. Bequest of Financial Assets
- I bequeath the entire proceeds of my Bank Deposits, Insurance Policies, and PPF Account to my wife, Mrs. [Name].
- She shall, however, create fixed deposits of ₹1 lakh each in favour of my minor grandchildren:
- Master [Name], son of [Parent’s Name]
- Baby [Name], daughter of [Parent’s Name]
- These deposits shall be managed by the children’s respective parents as their natural guardians.
- She shall, however, create fixed deposits of ₹1 lakh each in favour of my minor grandchildren:
- I bequeath the entire proceeds from my Mutual Funds and Shares to my son, Mr. [Name], who shall have absolute rights thereto.
- I bequeath all residuary property and remaining assets, whether existing now or acquired later, to my wife, Mrs. [Name].
F. Appointment of Executors
To ensure proper and lawful execution of this Will and prevent disputes, I hereby appoint:
- [Name, Address] as First Executor; and
- [Name, Address] as Alternate/Second Executor, in the event the first is unwilling or unable to act.
The Executor shall administer, distribute, and manage my estate in accordance with the terms stated herein and in compliance with applicable laws.
Execution and Attestation
In witness whereof, I have signed this Last Will and Testament on this ___ day of _______, 20, at [Place].
Signature of Testator: ___________________
Date: _______________
Time: _______________
Place: _______________
Attestation by Witnesses
Witness 1:
I affirm that I witnessed the execution of this Will and that the Testator appeared to be of sound mind and voluntarily signed the document in my presence.
Signature: ___________________
Name & Address: ___________________
Witness 2:
I affirm the same as above.
Signature: ___________________
Name & Address: ___________________
Medical Certification (Optional)
I have examined Mr./Mrs. [Name], the testator, on [Date] and confirm that he/she appeared to be of sound mind and in good mental health at the time of making this Will.
Signature of Medical Practitioner: ___________________
Name & Address: ___________________
Disclaimer: This blog has been written exclusively for educational purposes. The author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial/real estate decisions based on the contents and information. Please consult your financial advisor/legal advisor before making any decision.
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