You Can Avoid Fights Over Your Wealth: Write Your Will In 3 Steps For Free Today!

You have worked hard to make your dream come true. Now you may have an expensive home, thriving business, healthy bank balance and a lot of other luxuries that are reflect a prosperous life. But do you want this to happen once you in are in heaven?

* Kids battling in court for distributing your wealth and assets

* Someone else taking hold of assetswhom you never envisioned

* No or court-decided guardian, for your under-18 kid.

Surely not! Then how do you ensure that nothing of this sort happens?

                                              Write a ‘WILL’

Many of you might think it just happens in movies and is only required for people like the Ambanis. But that’s not true. Anyone who owns any asset can create a will.

So what exactly a ‘WILL’ is? It is a written legal document that states:

* How would you like to distribute your assets once you have passed away?

* Whether you want to leave your assets for your heirs or want to assign a ‘legal heir.’ Want to know how to write a ‘WILL’ in India? You can do it in two ways.

1. Online

2. Offline

While offline will generation is how most people prefer to do it considering you get assistance from a lawyer, however, online will writing is increasingly gaining advantage over the offline method because it’s…

* convenient

* fast

* and free

Writing a will online is usually a 7-8 steps process and most service providers charge a nominal fee. However, will writing with Aviva is a 3-step process which is absolutely free.

Follow these steps:

1. List your personal and asset details

2. Allocate Beneficiaries

3. Generate it online for free

Step-1: List your assets and assign an ‘Executor.’

Make a list of all the financial assets, bank accounts, deposits, locker, insurance policies and anything that you find worth distributing amongst your heirs. Even if they are digital assets or intangible ones which generate money, you must include them.

Once you have all the details of your assets, you have to mention an executor who will be responsible for executing your will as per your instructions in your absence. To avoid any wrongdoing, you will have to assign:

* Primary Executor- List all his details (name and address) and your relationship with him or her.

* Substitute Executor-Make sure you assign a substitute executor if the primary one is unavailable or unwilling or unable to act.

Step-2: Allocate Assets to Beneficiaries Clearly

Who owns what after you? You have to find answers to this question as under:

1. Heir-1(Wife/Son/Daughter): provide all the details that will be managed by the first heir. If you have more than one heir, make sure that there isno ambiguity in the assets.

2. Heir-2 (Wife/Son/Daughter): Now which assets do you want to give to your second heir? You have to provide the details.

Most crucial reason for writing a ‘WILL’ is that there is no legal battle amongst your family members when you are no more. In fact, there have been many instances where siblings become ‘rivals’ due to friction that is created due to the uneven distribution of assets. If that’s not your concern, no one stops you from bequeathing your assets to any individual who may be a ‘legal heir’ of your wealth.

1. Legal Heir-1 (Not your son/daughter/wife): You may list all the details of assets that you want to give to him or her.

2. Legal Heir-2 (Not your son/daughter/wife): You can have more than one legitimate heir for your assets. In this case, you will have to provide all the details of the individual clearly.

Note: You must provide their clear personal details in the will forms. There must not be any ambiguity in the instructions. You should not be

using nicknames and make sure that it matches the name on their birth certificates or identity proofs.

Step-3: Generate Your Will document

As mentioned earlier ‘WILL’ is a legal document and it has to follow all the correct procedures to be legally valid. You might take the help of a lawyer or generate an online will as well. But you have to:

* Make sure that two witnesses need to be present at the time of signing the will

* Make sure that every page of the ‘WILL’ is ‘numbered’ and signed with the date on it. It is useful in avoiding fraudulent misuse of ‘WILL.’

It isn’t over until …!

You will have to review your will periodically to make sure that it remains valid throughout your age. Changes (if any)in assets or beneficiaries should be updated at regular intervals to make sure that it serves the purpose for which it was written!

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