UPDATING A WILL: WHEN AND HOW TO DO IT?

You may have to revise your registered will in India for numerous reasons. These are some prominent ones:

Personal events can call for you to change your will include marriage, divorce, birth of children, or the death of a family member. Significant changes in your financial circumstances—such as buying or selling assets—may call for you to amend your will to accurately represent your present financial state. Legal changes could have an impact on how your assets are distributed. Changing your will guarantees that your assets will be divided according to the most recent legal requirements. You might decide differently concerning the distribution of your assets as you grow older or acquire fresh life events. Changing your Will will help to guarantee respect for your wishes.

HOW TO UPDATE YOUR WILL?

The Indian Succession Act of 1925 lets you change your will at any moment during your lifetime. Making amendments to a registered will, however, requires particular legal rules you must abide by:

Only by writing a new will or a codicil can a registered will be changed. A codicil is a document that modifies particular features of an already-existing will without substituting another. Making significant modifications demands a new will to be drafted. The revised will or codicil must be executed in the same manner as the original will. This implies it needs to be signed by you in front of at least two witnesses per Indian Succession Act, 1925 regulation. New will or codicil must clearly specify that it revokes all previous wills and codicils in order to avoid any uncertainty. Otherwise, the new will might get contested in the court. The revised will or codicil has to explicitly proceed with the date. Although registration is not required, it is advised since it helps remove conflicts or doubts on its authenticity.

WHAT OTHER STEPS TO TAKE?

Before making any updates or changes, it is crucial to examine your current will in order to pen down the necessary changes. You should prepare an extensive list of any modifications or additions that you wish to implement.

Secondly, it is advisable to seek the advice of a lawyer to guarantee that any modifications or additions to your will are executed in a manner that is consistent with the applicable laws and regulations. The lawyer can provide guidance on whether to execute a new will or utilize a codicil.

The necessity of executing a new will or codicil will vary depending on the modifications you wish to implement. A new will must be signed in the presence of witnesses and registered with the appropriate authority. A codicil is required to be signed and witnessed, but it is not necessary to register it separately.

It is crucial to review and revise your will on a regular basis to guarantee that it accurately reflects your current intentions. You should be prepared to update your will, as life events such as the birth of children, divorce, and marriage can have an impact on it. It is important to incorporate a revocation clause into any new will or codicil in order to revoke any previous wills or codicils. This clause guarantees that your new will or codicil is the most precise and current representation of your intentions, and cannot be contested. It is advised to inform the parties involved, including your executor and beneficiaries, of the modifications to your will after it has been updated. This will prevent any future disputes or confusion.

It is crucial to ensure the safety and security of a new will or codicil after it has been executed. In the event of your demise, it may be beneficial to store it in a safe or safety deposit box and inform your executor or a trusted family member of its location. If there is no will at time of death, there can be potential disputes and disagreements. You can guarantee that your registered will is updated and aligns with your current intentions by adhering to these guidelines. This can ensure peace for your loved ones, and avoid conflicts and unnecessary legal disputes in case of your death.

REVOCATION

A will can be revoked in multiple ways. Writing a new will automatically invalidates all past wills, as long as it clearly specifies that it is intended to replace the old one. Another way is physical destruction, such as shredding, burning, or otherwise injuring the will, which must be done by the testator or under their supervision with the intention of revoking it. Alternatively, a codicil can be used to change or repeal particular elements of an existing will without invalidating the entire will. Marriage can also revoke a will in certain circumstances, unless the will was specifically designed to account for the marriage.

CONCLUSION

Lastly, amending your registered will is a vital step toward ensuring that your desires are carried out and your assets are divided in accordance with your current circumstances. Life events, changes in your financial circumstances, changes in the legislation, and changes in your wishes are all possible reasons why you should update your will. It is critical to follow the legal procedures for amending a will in India, which include executing a new will or codicil, revoking all prior wills and codicils, and registering the new will or codicil. Consulting with a lawyer can help guarantee that your will and any revisions to it are carried out properly and in accordance with applicable laws and regulations. Keeping your will up to date ensures that your loved ones are cared for after your death and that your legacy is protected.