Making a #Will is very important to #transfer #ownership of your property and other assets to your near and dear ones. A will also helps in resolving disputes amongst your family members.

This video answers many questions like:
1. What is a Will?
2. Why do you need a Will?
3. What happens if you pass awy without a Will?
4. What are the essential elements of a Will?
5. Whether the registration of a Will is compulsory?
6. When is the best time to write a Will?

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I'm sure all of you heard the term “will” before whether in the newspapers, books, movies, etc. However, there are popular misconceptions such as only a business icon or rich person has to draft a will and not a daily wage earner. However, it’s not so. So today I would be dealing with all the main questions regarding a will suggest.

Why do we need a will? What happens if you pass away without a will. What are the essential elements of a will? Whether the registration of “will” is compulsory or not and when is the best time to write a will. To answer the question of what is a will in the most simple of the terms.

What is a will?
A will is a document where you laid down exactly how you want to distribute your property and to whom you want to give it to. By property it means anything. It could include immovable or movable property. Immovable property such as land, house, etc can be included in a will or movable property such as jewelry, cars, bikes, a watch or anything of that sort.

why do you need a will and what happens if you pass away without a will?

A will ensure that your property is distributed properly and to the right people. I would like to give you an example of a daily based homemaker who has been struggling for the past few years to get access to her husband's property after he passed away. More than the emotional trauma of losing a dear one now she has to deal with the legal complications of proving that she and her children are the only living legal heirs. All of this happens because of the lack of a will. Basically what happens if you pass away without a will. Is that the government gets to intervene and they divide your property according to a set formula. So what happens is that the person you wanted to ideally give it to might not get it.

what is exactly contained in a will?

A will contains four essential elements.
Firstly a declaration made by the testator. If you are the one who is making the will then you are the testator and you have to make two declarations.

Firstly that any property that you mentioned in the will is under your ownership and

Secondly that while making a will you are under no kind of pressure or undue influence.

The second essential element is that the property that you are referring to in the will has to be described clearly. For example, if it's a house or land we're talking about then the exact address and the measurements of the House or the land have to be given.

The third essential element is the beneficiary. A beneficiary is a person to whom you want to give the property to. Such a person has to be mentioned in the will including his name and address.

The fourth and the final essential element is attestation, Which means that to ensure the validity of your will you have to get two witnesses to sign at the bottom of a will so that they can attest to the fact that it was in their presence that you have signed your will.

Does a Will have to be registered?

According to the Indian laws, the registration of a will is not compulsory, nor does it have to be on the stamp paper. But, however, if it is registered it will increase the legal validity of your will. Moving on to the last and the most important question as to

When is the best time to make your will?

Any person above the age of 21 who owns the property and wants to give it to somebody else can make a will. However, this does not happen. So as a thumb rule If you have a family with wife and children and you don't want them to suffer if something happens to you please make your will right away. The sooner the better.