Types of will
Make a will that fits your circumstances and needs for smooth passage of your assets and possessions.business Updated: Jul 27, 2012 21:48 IST
Make a will that fits your circumstances and needs for smooth passage of your assets and possessions.
It is made by a person who is 18 years of age, a soldier or airman, employed in an expedition or engaged in actual warfare, or a mariner. These can be handwritten. 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 ceases to be entitled to make a privileged will.
Holograph will: It is written by the testator (the person who makes the will) in his own handwriting.
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.
Joint will: It 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.
Contingent/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. Duplicate will: This is simply a copy of the original will.
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First Published: Jul 27, 2012 21:46 IST