Preparing & revoking a Will is much easier but proper procedure should be adhered. Here are some important
information about a Will and its features & contents it should have:
- A will or testament is a legal declaration by which a person, the testator, names one or more persons to manage his or her estate and provides for the distribution of his property at death.
- It is not necessary to use any technical words in a Will. Only the intention should be clear. It is ideal to get the Will registered, though not compulsory.
- A 'Will' should be attested by at least two witnesses.
- There are two types of Wills. Most executed Wills are unprivileged Wills. Privileged Wills are executed by Soldiers, Airmen and Mariner in certain circumstances.
- Testator (person making the Will for his beneficiaries), passes on the property to the persons he desires.
- A Testator who makes Will or the persons (called beneficiaries,) who are named in the will to inherit the property / cash / valuables / movable / immovable properties etc., should know the validity & revocation (official cancellation) of any Will.
- A 'Will' can also be revoked / cancelled without making a fresh Will, but the cancellation should be in writing. Even revocation / cancellation of any Will requires signature of the testator (person who made the Will) and attested by at least two persons as witnesses for the Will.
- A subsequent Will can also be made by cancelling / revoking the earlier one and it should be specifically mentioned in the subsequent Will to make it (Subsequent Will) valid & earlier Will 'void'.
- To ensure that the true intention of the testator is implemented, it should be done as per the provisions of Indian Succession Act, 1952.
- It is advisable for the Testator to consider the contents of the Will regularly just to make sure that it reflects testator's wishes.
- Though not necessary, it is advisable to get opinion of a legal counsellor to make sure that the Will prepared reflects what exactly the Testator wants to be implemented after his death.
- Testator should be clear in mind what should be included in his Will and the property should be distributed in what proportion? How much money, property and possessions the Testator has? Be they Savings, Movable/Immovable Property, Occupation/Personal Pensions, Insurance Policies, Bank Account Money, Shares etc.
- Most Important: Most important clause a Will should have is the details of Executor(s) (who might be Testator's family member, relative or a trustworthy friend). Executor(s) is / are those who will be responsible for carrying out Testator's wishes as mentioned in the Will after Testator's death.