Why Writing a Will Matters for Parents
Becoming a parent alters your perspective on the future. While you focus on nurturing and providing, it is equally important to plan for what happens if you are no longer around. Writing a will is not only about property; it is about safeguarding your children’s future.In this article:
Why You Need a Will
You should consider writing a will because it:- Ensures your children are financially secure.
- Allows you to appoint a guardian for minor children.
- Provides clarity about property distribution.
- Prevents conflicts among family members.
- Helps reduce delays in asset transfer.
- Gives you peace of mind knowing your wishes will be honoured.
How to Start Writing a Will
You don't need to wait until a certain age or reach a specific wealth level to start. Starting early gives more flexibility and reduces complications. Steps to get started:- Create a list of assets, including property, savings, jewellery, investments, and digital assets.
- Decide beneficiaries: Choose who receives what, keeping fairness and practicality in mind.
- Appoint guardians: If you have minor children, select someone you trust to care for them.
- Choose executors: Executors carry out your wishes. Pick someone responsible and dependable.
- Write in clear language: Use simple words and avoid confusion.
- Get witnesses: At least two witnesses must sign to validate the will.
Essential Components of a Will
For a will to be legally valid and effective in India, it should include:- Personal details: Full name, address, and date of birth.
- Declaration: A statement that the document is your last will.
- List of Assets: A clear description of all assets.
- Beneficiaries: Names of people inheriting the assets.
- Guardian details: If applicable, please specify who will care for your children.
- Executor details: Who will carry out the terms of the will?
- Signatures and witnesses: To confirm authenticity.
Do You Need a Guardian?
If your children are under 18, appointing a guardian is essential. This ensures they are cared for by someone you trust if you are not there.When choosing a guardian:
- Select someone who shares your values.
- Consider their willingness and ability to take responsibility.
- Discuss with them before naming them in the will.
- Provide financial provisions to support the guardian in raising your children.
Do You Need a Lawyer to Write a Will?
It is not mandatory in India to involve a lawyer when writing a will. You can draft it yourself on plain paper. However, consulting a legal professional can:- Ensure clarity and avoid loopholes.
- Help with complex asset distribution.
- Guide if you have property in different states.
Executors: The Backbone of Your Will
An executor is the person responsible for ensuring that your will is carried out. You should:- Choose someone trustworthy and dependable.
- Consider their availability and willingness.
- Inform them about their role in advance.
- Appoint an alternate executor in case the first choice cannot serve.
How Often Should You Update Your Will?
A will is not a one-time document. Life circumstances change, and your will should reflect those changes.Update your will if:
You have another child.
- You acquire new property or assets.
- There is a major change in family structure (marriage, separation, death).
- You relocate to a different state.
- You wish to change guardians or executors.
Other Important Details
Here are a few additional points to keep in mind:- Registration: While not compulsory, registering your will with the Sub-Registrar can prevent disputes.
- Safe Storage: Keep the will in a secure location and notify your executor.
- Handwritten or typed: Both are valid, but clarity is the most critical factor.
- Multiple copies: Avoid making multiple conflicting versions. Keep only one final will.
Start early, keep it simple, and review regularly. Your will is not just a legal document; it is a gift of clarity and peace to your loved ones.
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FAQs on Why Every Parent Should Consider Writing a Will and How to Start
- Can a will be challenged in court?
Yes, a will can be contested on grounds such as lack of mental capacity, fraud, or improper witnessing. However, a well-drafted and registered will is less likely to face disputes. - Can I change only a part of my will?
Yes. You can add a codicil, which is a legal amendment to your existing will. However, if there are many changes, it is better to create a fresh will. - Who cannot be a witness to my will?
Beneficiaries of the will should not act as witnesses. Neutral individuals above 18 years of age are suitable. - What happens if I die without a will in India?
If you die intestate (without a will), assets are distributed as per succession laws applicable to your religion, which may not reflect your wishes. - Is a digital or video will valid in India?
Currently, digital or video wills are not legally recognised. A written, signed, and properly witnessed will is required for validity.