Will Format

 

TEMPLATE FOR LAST WILL AND TESTAMENT OF ______

Please read the earlier post before going through this template for it to make better sense. The link is HERE 

 

1.            I, _________, UID No xxxx xxxx 1234 born at birthplace, on _____, son of _______, cancel all earlier wills, codicils and testaments made earlier and make this my last and final will as well as Living Will (Advance Medical Directives).

2.            My immediate family consists of the following persons:

(a)             Mywife born on ____ at ____ UID No xxxx xxxx 1234

(b)             Myfather born on ____ at _____ UID No xxxx xxxx 1234

(c)             Mymother born on ____ at ____ UID No xxxx xxxx 1234

(d)             My only two children namely, child1 born on ___ at ___ UID No xxxx xxxx 1234 and child2 born on ___ at ___ UID No xxxx xxxx 1234

(e)             Mysibling(s) born on ___ at ___ UID No xxxx xxxx 1234

(f)               (Here you should add details of adopted children, any changes you want to make after a second marriage, etc. You may also add the names of your in-laws etc, if you want to add them as  beneficiaries in stage 2, 3 etc. Also state here in case you do want a particular person to have any rights to your estate; it may perhaps be necessary to specify this in case of any estranged family members) Please note only masked AADHAAR numbers to be given ,or give the Virtual ID.

3.            I nominate my wife, mywife, as my only legal heir. I bequeath all my movable and immovable properties, undivided shares in any fixed assets, as well as all my investments, monies etc to her. She also becomes the legal owner of my mobile number xxxxx12345 and email address abc@mail.com with exclusive rights to the use of these assets.

4.            In case my wife pre-deceases me, then I nominate mytwochildren as my only two legal heirs (both in equal proportion):-

(a)          Child1 and

(b)          Child2

Whether they maintain their maiden name or change it after marriage (valid for girls).

5.            In the case that all three predecease me, for example, in any accident, or all my heirs pass away before receiving the proceeds from my estate, I nominate my legal heirs as below, given in descending order of precedence, depending on who is alive at that time:-

(a)                Mymother to receive 70 % (seventy percent share and myfather to receive 30 % (thirty percent) share. If my mother pre-deceases me, myfather is to receive her inheritance. Failing which,

(b)                My father to receive 30%. In case mymother or myfather are predeceased, then 100 % of my inheritance stands bequeathed to the persons mentioned below in the order of their being alive at the time.

(c)                My sister, born maiden name, on ___________, failing which,

(d)                Mysister’s husband failing which, the legal heirs of mysister.

(e)                MyMother-in-law (you can mention any order as you like, the principle being that in case all the members perish in one accident for e.g. then there must be some order or succession)

6.            Details of Property.

(a)       Presently I am the 50% owner in Flat No _________ (you should give the property tax no or other unique identifying info here).

(b)       I am also nominated as the 50% beneficiary in my parents’ flat no _____

(c)       It is possible that I may resell or acquire, inherit, or otherwise become the owner / part owner of any other property in the future.

(d)       In the case of my fixed property, I will and bequeath my undivided share of the property to my wife.

7.            I hold various investments like, but not limited to, monies in Bank accounts and Fixed deposits or debentures / shares, Demat accounts, Mutual Funds, PPF/ EPF, Post Office and other such accounts, Insurance plans, Gold, cash etc. The term ‘investments’ includes all financial instruments where I am either the first, or sole holder; as well as cash, precious metals and the like now and in the future. If you like, you can give the Customer ID or other unique identifying document, in a ‘masked’ format – this way you can avoid giving details of each and every investment under than customer ID. Avoid listing the complete list because it can change over time. 

8.            In investments or accounts that are held in the joint name with my wife, I have nominated either of my children as the nominee, or nominated as joint nominees, to ensure compliance with paperwork. However in case my wife pre-deceases me then the amounts in the investments are to be shared equally between both my children. In case there is any investment(s) that does not have a nomination entered, then I will and bequeath all such investments to my legal heir(s) in the same order as given in subsequent paragraphs.

9.            Insofar as my immovable property is concerned, my legal heirs are free to do as they like with the property, that is, they may either:-

(a)                Transfer it to her / his / their name(s) OR

(b)                Directly sell the property to a buyer, and do as they like with the proceeds. Or any other thing they wish to do with the properties.

10.         After I am deceased, my wife will become the sole inheritor of all the investments and property / properties in my name, as well as my undivided share in any properties including any that I may stand to inherit or purchase. (this part will cater to the possibility that you might purchase or inherit some property. This way, the will remains valid - although ideally you should make a new will in case there is a large change in the property holdings)

11.         In case my wife pre-deceases me, my immovable assets are to be distributed as under:-

(a)          My undivided share in my Flat _____, - I bequeath my undivided share in this property to mychild 1.

(b)          My undivided share in Flat #2 where I am the beneficiary in my parents’ flat, I bequeath my undivided share in this to mychild 2.

(c)          Any other property I may acquire or inherit at a later date is to be suitably evaluated (not necessarily by a formal process, but any mutually acceptable price is also acceptable). My children are to mutually decide which one of them wishes to inherit this property.

(d)          In all the cases above, the value of the total of my investments, liquid assets, jewellery etc. is to be computed and a share of this value equal to the evaluated price of each property is to be paid to the child that does not wish to inherit the property. The balance of the investments, liquid assets are to be then equally shared among my two children. In case the value of my investments, liquid assets etc. is not sufficient to cover the proportionate share of the property, then the compensation to the other child is limited to the value of my investments, liquid assets etc. In such a case, the children may choose to jointly inherit the flat or to dispose of the same directly.

12.         In the case of my investments and other liquid assets, it is not necessary to split each investment into two parts, but any division that is mutually acceptable to my children will also be permitted. For example, it might not be necessary to break each deposit in half, but the overall investments should be divided into two mutually acceptable portions that might not necessarily be equal in value at the time of split.

13.         During my lifetime, I have purchased gold in the form of ____ in no, coins and ornaments (the total amount is _____grams). This gold, and any other precious metal I may acquire or inherit is to be equitably distributed between my daughters. These may be pooled in the total value of investments in order to compensate for difference in value of the flat(s).

14.         Health. This section states my firm and settled decisions regarding Medical Treatment. This directive should be followed if I become permanently unable to participate in decisions regarding my medical care. I fully understand that health care is getting more expensive and will become a very big drain (emotional, financial or otherwise) on any relatives supporting me at that the time of my ill health. I have seen a large number of my terminally ill relatives suffering due to medical attempts at prolonging life. Therefore, if any or all the following conditions are met where my doctor (s) or my heirs or family or those responsible for my well-being at the time, determine that:-

(a)          I have a terminal condition which cannot be cured.

(b)          Where my death would occur without the use of artificial life sustaining procedures.

(c)          Where I am unable to communicate my wishes (eg, coma).

then, I specifically state that I do not wish to be put on any form of artificial life support. This includes, but is not limited to mechanisms like ventilators, tube feeding, force feeding, dialysis, intravenous methods etc. At some stage, I may be in a partial or total coma or partial / total paralysis of any sort, due to any reason like but not limited to brain clot, stroke, fall, accident, etc. In this case, I do not wish to be put on to any form of life support. However, I do want maximum pain relief, even if this might hasten my death. Whenever it is determined that I am brain dead, all kinds of support / IV etc is to be taken off, and my organs be removed for donation.

15.         I nominate Mr __________ to act as executor of my will. He (she) is to be paid a sum of at least Rs One Lakh (Rs 1,00,000) as a token of thanks for carrying out this work.

16.         I am making this will in good health, complete soundness of mind, and under no obligation, threat, duress or menace of any kind.

 

 

Signed this ________day of October 2012 at _____  

     (Your Name Here)

Signed by the above-named testator in our presence at the same time and each of us has in the presence of the testator signed his name hereunder as an attesting witness.

Witness No 1    Place, Date	Witness No 2   Place, Date

Doctor’s report:-

Certified that I have examined Mr ________on this day and he is in sound mental health and in control of all his senses.