Who Is the Ben­e­fi­ciary un­der a Will?

Consumer Voice - - Bfsi Guide | Where There Is A Will -

Any per­son ca­pa­ble of hold­ing prop­erty can be de­visee (tra­di­tion­ally, ‘de­visees’ took land un­der a will) and there­fore a mi­nor, a lu­natic, a body cor­po­rate, a Hindu de­ity, or any other ju­ris­tic per­son can be a de­visee. The per­son in whose favour the tes­ta­tor be­stows the ben­e­fits is called a ben­e­fi­ciary or le­ga­tee (tra­di­tion­ally, ‘lega­tees’ took per­sonal prop­erty un­der a will). a daugh­ter, the daugh­ter au­to­mat­i­cally be­comes the owner of all the prop­er­ties/as­sets of the de­ceased.

You can make a will in favour of your son by ex­clud­ing the daugh­ters. If no will is made, on death all the le­gal heirs (in­clud­ing daugh­ters) have equal share in the prop­erty along with sons.

The In­dian Suc­ces­sion Act how­ever im­poses cer­tain re­stric­tions in cer­tain cases of dis­po­si­tion of prop­erty by a will un­der Sec­tions 112 to 117. Dispositio­ns of prop­erty by will in some cases have been de­clared void. If a mi­nor per­son has been named as le­ga­tee by a tes­ta­tor, then a guardian should be ap­pointed by the tes­ta­tor him­self to man­age the be­queathed prop­erty.

How Many Times Can One Make a Will?

A per­son as tes­ta­tor has power to make dec­la­ra­tion of will in­nu­mer­able times but it is al­ways the last will of the tes­ta­tor which will pre­vail. The words ‘I de­clare this to be my last will’ need not be stated in the in­stru­ment of the will.

In In­dia, it is not legally re­quired to get the will ex­e­cuted in a court of law in the pres­ence of a ju­di­cial mag­is­trate. How­ever, if you wish, the will can be ex­e­cuted in the pres­ence of a mag­is­trate or the pub­lic no­tary, nom­i­nated by gov­ern­ment au­thor­i­ties, and sealed in their pres­ence.

A will is li­able to be re­voked or al­tered by the maker of it at any time while he is com­pe­tent to

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