Wasiyatt

Uses and benefits of a Will in India

• Property distribution

  You can specify how your property should be distributed, thus avoiding confusion and legal delays. This is especially helpful for complex situations or if you want to leave assets to someone outside the normal line of succession.

• Guardianship for minor children

  A will is the only legal way to name a guardian for your minor children, ensuring their welfare is entrusted to someone you trust.

• Choosing an executor

  You can appoint an executor to manage and carry out the instructions in your will, overseeing the distribution process.

• Preventing family disputes

  A clear will helps to prevent conflicts and litigation among family members by settling who gets what, reducing the risk of delays and overhead legal costs.s

• Speeding up asset transfer

  By clearly listing assets and beneficiaries, a Will can make the transfer of assets like bank accounts, mutual funds, and demat accounts much quicker and smoother.

• Addressing special needs

  A will allows you to make specific provisions for dependents with special needs, ensuring their long-term financial security.

• Incorporating digital and scattered assets

  You can include modern assets like digital accounts, social media profiles, and cryptocurrency, which would otherwise be difficult to track and transfer.

• Ensuring wishes are followed

  Without a will, the distribution of your property follows default rules that may not align with your intentions. A will gives you control over the final distribution.

• Revocable and confidential

  You can change or revoke a will at any time during your lifetime, and it remains a confidential document.

• Catering to pets

  You can use a will to ensure that a trusted person takes care of your pets after your death.