Is there a option to draft a watertight will?
I’m planning to draft a will and wish some tricks to make it watertight?
—Name withheld on request
It’s at all times advisable to call a residuary legatee, i.e., somebody who receives these property which haven’t been specified below the desire, together with property that the testator has forgotten/is unaware of or which is acquired after making the desire or last testomony.
One ought to nominate executors who’re youthful than the testator, since they’re extra more likely to survive the testator and in addition take into account naming back-up executors, who can act if the first-named executor is absent or unwilling.
Testators with minor youngsters can identify guardians within the will. In an unlucky scenario the place each dad and mom have died, naming a guardian can keep away from a whole lot of confusion and contentious litigation over who the guardian needs to be.
Videographing the will-signing course of eliminates doubts concerning the genuineness of the testator’s signature and having a medical doctors certificates certifying metallic capability may be of a bonus in case of a contest.
A will is for everybody and needs to be made by each particular person. However, additional care {and professional} help is warranted if one has a sizeable asset base or an uncommon or contentious household scenario.
The will needs to be clearly written and validly executed.
Are completely different wills wanted if some property are located exterior India?
—Name withheld on request
If one has property abroad, for instance a checking account or actual property or shares and securities, these ought to ideally be lined below a separate will made below the legal guidelines of that jurisdiction. In that case, post-demise, the overseas and Indian wills may be administered or probated concurrently, and unbiased of one another.
In the absence of such a overseas will, the overseas financial institution could require a probate to be granted by Indian courts earlier than they launch the funds and this might take fairly lengthy, or alternatively require that the Indian will likely be probated in that jurisdiction which might show difficult for the reason that Indian will could not meet their necessities of authorized validity.
Bijal Ajinkya is companion and Ipshita Bhuwania is senior affiliate at Khaitan & Co.
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Updated: 26 Sep 2023, 08:33 PM IST
