THE WILL

A wonderful Piece by Sri R Natarajan. Thank You Sir !

Recently, one of my very close family friend died suddenly of a heart attack.  I felt very sad as our friendship spanned over 50 years.  I could not even go to Chennai to condole his family.  His name is D, he was 89 years’ old, had no previous history of any heart problem, a jolly-good fellow.  I spoke to his wife and his children, and conveyed my feelings. 

 

A few years ago another colleague-friend also passed away suddenly.  His name is A, and he was in Delhi.  I went to his house and consoled his wife and children. 

 

The sudden death of these dear friends had thrown the families out of gear. Bereavement period over, the families had to come to grips with life. The daughter of Mr. A rang me and asked me: “Uncle, (a) what is the procedure for claiming family pension, (b) whether the deceased had left any WILL, (c) do you know about his investments, (d) how to go about claiming the investments made by my father. You might be knowing, as my father was very close to you and used to go by your advice.”

 

During the course of my service in Government and later also, many of my friends used to consult me on matters relating to income tax, savings and investments, etc. among other things.  To the daughter of my friend Mr. A, I said that there was no problem about family pension, if the Pension account is held jointly with his spouse.  If not, there are some formalities which I explained to her.  About the WILL, I said I was not aware.  About his investments he used to keep the details in a notebook.  They may look for it and if any help is required I would do it.

 

As regards the WILL, many of my colleagues were apprehensive and even afraid.  “Arre bhai, do you want me to die soon?” some said, while some others said “After all, all my properties and money will ultimately go to my children and therefore there is no need for any Will.”  Some others said that “I have made valid nominations and therefore there should be no problem.”

 

In my opinion, a WILL will facilitate transfer of the property and money more easily than a “nomination”.  A Nominee is only an agent/custodian, and acts as such on behalf of the real heirs, till he hands over the money to the real heirs.  Unless the heirs themselves are the nominees.  In one case, the Bank  insisted on “No Objection letter” from all the legal heirs before releasing a fixed deposit amount to the nominee, especially when the deposit amount is large-and the two children were settled, one, in America, and the other, in Singapore.  A joint account will be helpful, in such cases.  In the case of immovable property, in the absence of a WILL, one has to go round getting succession certificate, publication of advertisements, affidavits, application before the court for issue of the succession certificate, lawyers fees, delay and so on. In today’s busy life, how many people have the patience, time and inclination to go round various offices of the municipality/corporation, banks, etc.

 

What is a WILL and how does it help.  A WILL is a legal declaration of a person’s wishes regarding disposal of his properties to take effect after the death of the maker of the WILL (known as “Testator”).  No particular Form is prescribed under the Indian Succession Act.  It can be made in a plain paper.  No stamp paper, no stamp duty, no court fee, and no registration is required.  However, a WILL may be registered if there is any doubt in the mind of the Testator of a possibility of any of the inheritors contesting the WILL.  A WILL can be made by any person of sound mental health, and should not be made under any duress, persuasion, undue influence, sentiment, etc.  No technical words or legalese are required.  A WILL can be amended, varied, cancelled, revoked or replaced by a new WILL by the Testator at any time during his life. It can be in any language (English or Hindi or any other language).  A WILL should be signed by the Testator,  on each page and attested by two witnesses, and should contain in clear terms on what he wants to bequeath and to whom.

 

So, it is simple and if you have the will, you can make the WILL.

 

Regards

R Natarajan