Saturday 3 October 2015

WILL


Will is a private and confidential document written by a living person, who is referred as Testator, manifesting the intention to bequeath the properties in favour of the beneficiaries as intended. In other words, it is the declaration of the intention of the testator as to the disposal of the property after his death, which will be operative only after the death of the Testator or Testatrix.

Kinds of wills:
There are two kinds of wills, privileged will and unprivileged will.  Privileged will are made by soldiers, airmen employed in expedition or actual warfare and a mariner in sea. All other kinds of wills are called unprivileged wills.


Whether stamp duty is payable on will?
No stamp duty is payable on will, hence need not be written on stamp papers.

What is a duplicate will?
A duplicate will is that will of which two or more copies are made. If such copy is signed by the testator, it can operate as the original will. Here a will is executed in duplicate, out of which one is retained by the testator, while the other is deposited in the custody of another but the destruction of the duplicate will, in the testators possession, revokes the will.

Who is capable of making a will?
Every person (a) who is of sound mind and (b) who is not a minor can dispose of his property by will. 

A married woman can dispose off any property which she could alienate by her own act during her life-time through a will. Persons who are deaf, dumb or blind can make a will, if they are able to know what they are doing. A person who is ordinary insane may make a will during the interval when he is of sound mind. However, no person can make a will while he/she is in such a state of mind when he/she does not know what he/she is doing and is incapable of understanding the terms and conditions involved in a will. 

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