As the name implies, a last will and testament form is a legal document that expresses a person’s last desires before death.
The testator’s last will and testament is a formal instrument that specifies the distribution of his properties and property. It also contains his wishes for custody of minor dependents and account and interest management.
What does this form include?
The last will does not have to follow any particular format or include any specific vocabulary. The declaration must, however, reveal the testator’s plan to make dispositions of his or her property that take place after his death. As a result, it will consist of the following:
- Appointment of an executor to handle the estate’s administration
- Property or properties held by the testator
- Property or properties that the offspring inherits, whether by a charitable trust or otherwise, and the transfer ratio
- Minors exchange care until they are lawfully eligible to inherit it, which the testator is liable for.
- According to a residual clause, the remaining properties are distributed.
How is it executed?
The main object of naming an executor is to carry out the wishes of the testator. The authority to ensure that the last will’s contents are carried out properly is given to the executor. The executor is in charge of the estate’s administration. A probate court ensures the fulfillment of his/her will’s wishes.
What laws govern the form?
The Indian Succession Act of 1925 governs the rule of succession. Personal rules, on the other hand, apply to the last will form. It is not necessary to register the will, but if it is registered under the Indian Registrations Act of 1908, it will not be valid to be contested after the testator’s death.
What do you mean by a valid Last Will and Testament Form?
To be true, the last will must meet certain conditions. If it isn’t legally binding, it’s the same as death without a will. The below are the requirements:
- Legal age. The testator must be of lawful age to make a last will. The majority of states deem 18 to be the minimum age.
- Testamentary capacity. The testator must be of sound mind, which means he must be aware that he is writing a last will and that it will have an impact.
- Intent. A person has the intent to make a will whether he or she wishes to make a revocable disposition of property in the event of their death at the time of signing.
- Voluntary. A will has to be made voluntarily.
- Proper property disposal. It requires proper property disposal among family and friends.
- Signed, dated, and witnessed. A last will that is signed, dated and has to witness signatures is valid. The local rules determine the number of witnesses.
If you need a proper inspection of how the last will and testament form looks like, here is a sample of it:
What will happen if the last will and testament form isn’t issued?
Intestacy occurs when an individual dies without leaving a valid will. When a person dies without leaving a last will form, the state becomes the executor of the estate. The state decides how the land is divided and who gets paid first after it is settled.
Also, the state makes guardianship arrangements with the best interests of the children in mind.
What are privileged and unprivileged wills?
If an individual who is not a soldier on an expedition or engaged in real combat creates a last will, then it is called an unprivileged will.
To be legal, an unprivileged Will has to meet the following requirements:
- The Will’s author must sign or affix his or her mark to it.
- The testator must sign in a meaningful way so that it gives effect to the writing as the Will.
- Two or three witnesses should swear to the Will.
Types of last wills
Conditional will
A will is valid if it meets the requirements. It can also depend on other variables. A conditional or contingent will is true only if any contingency or condition occurs. It is null and void if the contingency or condition does not occur or the condition fails.
Joint will
A joint will is a form of a will in which two or more people intend to make a will together. It is not enforceable during any of the parties’ lifetimes if it is specified to take place after both parties’ deaths.
Concurrent will
For the sake of ease, concurrent wills are those in which one party writes the will. It contains directions for the disposition of land.
Mutual wills
The testators confer equal rewards on each other in a mutual will. A husband and wife will make a joint will throughout their lifetime to pass on all benefits to the other spouse. Any party can withdraw a mutual will at any point during their life together, or by the survivor after the death of one of them.