Untimely deaths in a large number of households are often overshadowed by family members squabbling over inheritance. Thus, it is advised to make a valid will in one's lifetime so as to reduce any scope of family feud over property of the deceased. We have compiled here a list of five things that you must know before you decide to write a will:
Who can make a will: Any person of sound mind, who is not a minor, can make a will.
Who can be a legatee: A legatee is the principal beneficiary or inheritor. A minor, a corporation and other juristic person can be a legatee. If the minor has been named as legatee by a testator, then a guardian should be appointed by the testator to manage the bequeathed property. One can make some provision for a faithful servant, a nurse or a friend in need of money.
Right to appoint a legatee: The testator has an absolute right to appoint any person as a legatee or beneficiary of a will.
Takes effect after death: A will becomes enforceable only after the death of the testator. It gives absolutely no rights to the legatee (the person who inherits) until the death of the testator.
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