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Will is a part of overall Wealth and Financial Planning
Will allows you to distribute wealth as per Your Wishes or else it will be distributed as per personal succession Law like Hindu Law, Christian Law etc.
Will is a written document declaring your wishes to distribute(bequeath) your properties after your demise.
Will and succession laws are different for different religions like Hindu Law, Christian Law, Parsi Law, Muslim law etc.
Will can be made on plain paper typed or handwritten. No stamp paper is required. Registration of a Will is not mandatory.
Will can be made in any language covering details of Person, Family, All Assets, Wishes etc. duly signed by a testator and two witnesses.
Fact - Every Individual is aware about Date of Birth, but no one knows their Date of Expiry. We all buy life insurance keeping in mind for Life Uncertainty, the same concept need to be applied for a Will.
Fact - A Nominee or a Joint Owner can act as a Trustee only and can NOT claim Ownership of the properties as legal heir. So if you think nomination / joint ownership is a solution, re think!
Fact - If a Will is not made, then after demise, all the properties will be distributed equally amongst the mother, spouse, sons and daughters as per Succession Laws of your religion
Fact - A Will can be written on a plain paper and registration is also not Mandatory. An unregistered Will is also 100% Legal. Now, Will writing is simple, hassle-free process through iWill. Make a Will at your own time and place.