How to Create a Will: Process and Factors to Consider

What is the Process of Making a Will?

What Are the Factors to Consider When Drafting a Will?

FAQs About How to Create a Will

Can you make a will without involving a lawyer?

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Yes, you can find a will template online and download and print it to accurately fill in the necessary information. Attach a list of assets and beneficiaries and appoint an executor of your will. Once done, sign the papers and ask your witnesses to sign them.

How long does the validity of will last after death?

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There is no expiry date of a will. After the testator passes away, the beneficiary can claim the will throughout their lifetime. Once the executor enforces the will's contents, it is deemed executed.

Can you challenge a will in court?

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Yes, you have the flexibility of challenging a will within 12 years of the death of its testator. However, you can also challenge it after 12 years if you doubt its legal validity or any other solid reason.

Who can become a witness to your will?

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You can select two witnesses to your will apart from the beneficiaries and close relatives. Also, both must be younger than the willmaker to stand eligible for signing as witnesses.

What is the cost involved in making a will?

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The cost of making a will usually ranges between ₹10,000 and ₹15,000. However, this cost usually varies with the service provider you choose for this purpose. Also, you should note that no additional charges are involved in preparing this document.

Disclaimer

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  • This is an informative article provided on 'as is' basis for awareness purpose only and not intended as a professional advice. The content of the article is derived from various open sources across the Internet. Digit Life Insurance is not promoting or recommending any aspect in the article or its correctness. Please verify the information and your requirement before taking any decisions.
  • All the figures reflected in the article are for illustrative purposes. The premium for Coverage that one buys depends on various factors including customer requirements, eligibility, age, demography, insurance provider, product, coverage amount, term and other factors
  • Tax Benefits, if applicable depend on the Tax Regime opted by the individual and the applicable tax provision. Please consult your Tax consultant before making any decision.

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