Guidelines for Making a Legally Valid Will in India
Making the will during your life time is one of the most important aspects of everybody's life. The hard work done by you for the entire life can get washed away in a moment if you happen to die without making a will as to who will be your successor. Hence, making a will well in time in your life is as important as living a healthy life. The laws and procedures for making the will are different in all the countries. I am going to briefly cover on the procedure of making the legally valid will in India.
The will can be made at any age after 21 years in India. The procedure of making the will that is legally valid is very simple in India as compared with many other countries of the world. You can make the will on plain paper in India. It is not necessary to make the will on judicial or non judicial stamp paper in India. You can get the will typed on a plain paper. However, it is advisable to write your will in your own hand writing as the same can be verified later in case of any doubts raised by the relatives.
You have to declare in the first paragraph of the will that you are making this will in your full senses and without any kind of pressure. It is essential to list out all your assets in the will, item by item, which you own.
The approximate current values of the house, land, or any other property should be clearly mentioned in the will. After listing out of all the assets like bank fixed deposits, postal investments, mutual funds, share certificates owned by you, you must indicate where all such documents are stored by you. Mostly, such critical documents are to be preserved in the bank safe deposit box. The detailed records can also be kept on your personal computer. However, looking to the security problems faced recently in the computer systems, I would advise to keep a hand written record in a special diary that may be stored safely away from other routine documents.
The will can be made at any age after 21 years in India. The procedure of making the will that is legally valid is very simple in India as compared with many other countries of the world. You can make the will on plain paper in India. It is not necessary to make the will on judicial or non judicial stamp paper in India. You can get the will typed on a plain paper. However, it is advisable to write your will in your own hand writing as the same can be verified later in case of any doubts raised by the relatives.
You have to declare in the first paragraph of the will that you are making this will in your full senses and without any kind of pressure. It is essential to list out all your assets in the will, item by item, which you own.
The approximate current values of the house, land, or any other property should be clearly mentioned in the will. After listing out of all the assets like bank fixed deposits, postal investments, mutual funds, share certificates owned by you, you must indicate where all such documents are stored by you. Mostly, such critical documents are to be preserved in the bank safe deposit box. The detailed records can also be kept on your personal computer. However, looking to the security problems faced recently in the computer systems, I would advise to keep a hand written record in a special diary that may be stored safely away from other routine documents.
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