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Knowledge Center » Personal » TYPES OF WILLS

TYPES OF WILLS
In order to ensure passage of your assets and possessions smoothly to your heirs, You need to a will that fits your circumstances and needs. The different types of wills are as under :-

A. PRIVILEGED WILL
A Privileged will made by a person who is 18 years of age, a soldier of airman, employed in an expedition or engaged in actual warfare, or a mariner. A privileged will can be made not only by those actually engaged in warfare but also by those who may be a part of expedition; for instance, a military doctor accompanying the regiment. These wills can be handwritten and when handwritten do not need a signature.

Oral Will: Such persons can also prepare oral wills in the presence of two witnesses. However, the will shall be null if the soldier is alive at the end of a month after he cases to be entitled to make a privileged will. Except for such persons and Muslims, who can make oral wills as well, such wills are void.

B. UNPRIVILEGED WILL
Holograph Will: It is written by the testator (the person who makes the will) in his own handwriting. However, if it is typed, it needs the testator’s signature.Inofficious Will: This will is not in keeping with a testator’s natural affection and moral duty, which means where the testator bequeaths all his property to a stranger to the complete exclusion of his wife, children or other relatives.Mutual/reciprocal will: Two persons are said to make mutual wills when they confer reciprocal benefits upon each other under their respective wills. Say, A bequeaths all his property to B and B to A.

Joint will: It is a will made by two (or more) testators, contained in a single document, duly executed by each testator, disposing of either their properties or their joint property. The most common example is one made by a husband and wife, disposing of their property under a joint will. Under law, such a will is not considered a single will. It constitutes two wills, and on the death of each testator, it operates as a will of such testator, disposing of his/her separate property. However, if it relates to joint property, it can only be executed on the death of the survivor. Contigent/ conditional will: Such a will may depend on an event, so if the event does not take place, then the will would have no effect. It may also be made conditional on the assent of a third person and such a will would be entitled to a probate, estabilishing the legal character of the person to whom it is granted, only if such assent has been given. Duplicate Will: This is simply a copy of the original will. If such a copy has been signed by the testator (self attested), then it can operate, as the original will. If one copy is with the testator and another is deposited with someone else, then on destruction of the copy that was retained by the testator, the will is revoked.