WILL is the ultimate document that decides on the disposition of one’s assets after his or her demise. Disposition means to transfer, distribute or sell. Will can be made online & offline. But before you proceed, you should know the legal terms in will making process. Understanding Will making process helps you to redistribute your assets as per YOUR CHOICE!

In the next article, we will discuss, the process of making a Will & answer questions related to will-making.

Understanding WILL

Will / Testament: A written statement of the Testator’s wishes providing for the disposition of his/ her property after his/her demise.

Will is a written declaration of a person in presence of two witnesses about his wishes to after his death for all matters including distributing his/her properties, assets, wealth to family, relatives, outsiders, charities etc.

By making a Will a person can ensure that all his/her assets and properties are distributed and disposed of as per his/her wishes after his/her death without disputes within family or without any legal hassles/delays.

Here is the collection of legal terms in WILL Making & their simple meaning:

1. Testator: A person who makes and executes a Will is called the Testator.
2. Intestate: A person who dies without leaving a “Will” is said to have died intestate; as per the applicable personal law of the deceased, all his legal heirs, are entitled to the assets of the deceased.
3. Beneficiary: A person, who is entitled to the asset under a “Will” is called a beneficiary. Any person can be a beneficiary, including a Charitable organization or even a public or a private Trust.
4. Witness: Witness is the person(s) in whose presence the Testator signs or affixes his mark on the Will and the said person(s) affixes his/ her sign/mark on the Will.
5. Executor: A person, who is appointed to look after, administrate and distribute the assets of the Testator, upon his demise, is called an Executor. An Executor is a person who distributes the properties of a deceased person as per his wishes mentioned in the Will. He is appointed as an executor in the Will by the person making Will.
6. An Alternate Executor can also be appointed in a Will. He acts as an Executor in case the primary executor is dead or in-capable to perform his duties.
7. Attestation of / attesting a Will – Attestation means signing a document for the purpose of testifying the signature of the Testator.
8. Minor –

(i) any person, subject to the Indian Majority Act, 1875, who has not attained his majority within the meaning of that Act, and any other person who has not completed the age of eighteen years;

(ii) a person who person or property, or both, a guardian under the Code of Civil Procedure, 1908 has been declared or appointed then he shall be deemed to have attained his majority on completion of his age of 21 years and not before;

(iii) and “minority” means the status of any such person

9. Probate: It is a process to establish that a “Will” is valid. It is understood as an order given by the Hon’ble Court, certifying the “Will” as valid.
10. Codicil – A Codicil is a document that is executed by a person who had previously made his or her Will, to modify, delete, qualify, or revoke provisions contained in it.

A Codicil is a part of the existing Will similar to an addendum but is not a new Will.

Will Myths & Facts

The next article will answer question like – Who can make a will? Who legal can make a will? What is the format of will? Do you need a lawyer? Do you need to get will be registered? Any many more questions… Click Here.