Introduction
Making a Will is one of the most important steps in personal financial and estate planning. A Will ensures that your assets are distributed according to your wishes after your death and helps your family avoid legal disputes and delays.
In India, a Will is governed by the Indian Succession Act, 1925. Despite its importance, many people delay or avoid making a Will, leading to complications for legal heirs.
This SavingMantra blog explains what a Will is, its benefits, and the step-by-step process to make a legally valid Will in India.
What Is a Will?
A Will is a legal document in which a person (called the Testator) declares how their movable and immovable assets should be distributed after their death.
A Will can include:
- Property (house, land, flat)
- Bank deposits
- Shares, mutual funds, bonds
- Insurance proceeds
- Jewellery and valuables
- Any other personal assets
A Will comes into effect only after the death of the testator.
Who Can Make a Will in India?
Any person can make a Will if:
- They are 18 years or older
- They are of sound mind
- They are making the Will voluntarily, without pressure or coercion
Benefits of Making a Will
1. Ensures Distribution as per Your Wishes
You decide who gets what, avoiding confusion and disputes.
2. Avoids Family Disputes
A clear Will reduces the chances of conflicts among legal heirs.
3. Faster Transfer of Assets
Legal heirs can claim assets smoothly without lengthy court processes.
4. Appointment of Executor
You can appoint a trusted person to execute your Will.
5. Protection of Minor Beneficiaries
You can appoint a guardian and create trusts for minors.
6. Reduces Legal Complications
Without a Will, assets are distributed as per succession laws, which may not align with your wishes.
Is Registration of a Will Mandatory in India?
- No, registration is not mandatory
- However, a registered Will has higher evidentiary value and reduces chances of disputes
- A Will can be registered at the Sub-Registrar Office
Stamp duty is not required for making a Will in most states.
Step-by-Step Process to Make a Will in India
Step 1: Make a List of Your Assets
Prepare a detailed list of:
- Movable assets (bank accounts, investments)
- Immovable assets (property, land)
- Liabilities (if any)
Mention ownership details clearly.
Step 2: Identify Beneficiaries
Decide:
- Who will inherit your assets
- Percentage or specific allocation
- Special provisions for dependents or minors
Step 3: Appoint an Executor
Choose a reliable executor who will:
- Carry out instructions in the Will
- Distribute assets to beneficiaries
- Handle legal formalities
Executor can be a family member, friend, or professional.
Step 4: Draft the Will
A Will should include:
- Personal details of the testator
- Declaration of sound mind
- Details of assets and beneficiaries
- Executor appointment
- Date and place of execution
The Will can be handwritten or typed.
Step 5: Sign the Will
- The testator signs the Will
- Must be signed in the presence of two witnesses
- Witnesses should not be beneficiaries
Step 6: Register the Will (Optional but Recommended)
- Visit the Sub-Registrar Office
- Submit original Will
- Biometric verification is done
- Will is registered and safely recorded
Step 7: Safekeeping of the Will
- Keep the Will in a safe place
- Inform the executor about its location
- You may store it with a lawyer or bank locker
Can a Will Be Changed or Revoked?
Yes. A Will can be:
- Modified through a Codicil, or
- Completely replaced by making a new Will
The latest Will is considered legally valid.
Difference Between Will and Nomination
| Basis | Will | Nomination |
|---|---|---|
| Legal Authority | Final | Custodial |
| Asset Distribution | As per Will | As per Will/Law |
| Applicable To | All assets | Specific assets |
| Priority | Highest | Secondary |
Conclusion
Making a Will is a simple yet powerful step to protect your family and ensure smooth transfer of your assets. With proper drafting, witnesses, and optional registration, a Will becomes a strong legal document that prevents future disputes.
SavingMantra helps individuals with Will drafting, executor planning, registration assistance, and estate planning guidance across India.
Disclaimer
This blog is for general informational purposes only and does not constitute legal advice. Succession laws, registration practices, and legal interpretations may vary based on religion and state laws and are subject to change. Readers are advised to consult a qualified legal professional before drafting or registering a Will. SavingMantra is not responsible for any errors, omissions, or changes in law.