As per section 2(h) of Indian succession Act,1925 legal document by which a person expresses their wishes as to how their property is to be distributed at death and the executor and names of one or more persons to manage the estate until its final distribution is known as will or testament.
Why you should make a Will..?
A will can help reduce the amount of Inheritance tax that might be payable on the value of the property and money you leave behind.
Writing a will is especially crucial if you have children or other family, who depend on you financially or if you want to save something for the people outside your immediate family.
A will makes it much easier for your relatives or family to sort everything out when you die.
The process can be more time consuming and stressful without a will.
If you don't write a will, everything you own will be shared out in a standard way defined by the law which isn't always the way you might want.
