Can a beneficiary even be made executor and witness of a will?

I’ve drafted a will after determining the beneficiaries of my belongings. Should the beneficiary, executor and witnesses of the might be three completely completely different models of people?

—Name withheld on request

Wills in India are made under the Indian Succession Act, 1925, which applies to all religions, apart from Islam. As per your query, we assume that you simply simply belong to considered one of many religions which might be dominated by the related regulation and your properties are self-earned or self- created or inherited.

An executor is the licensed guide appointed inside the will for all features of a deceased explicit particular person (testator) to carry out the instructions contained inside the will. The executor is chargeable for the administration of the property of the deceased explicit particular person and has the duty to collect the belongings, repay the cash owed and distribute the property as per the need. The executor has to adjust to the instructions talked about inside the will and may act within the excellent curiosity of the beneficiaries of the need. The executor will probably be any explicit particular person, along with a member of the household or a buddy, and it is not important to be a lawyer or educated executor. A testator can appoint quite a few executors.

A legatee/beneficiary is a person who inherits the property under a will. A legatee is a person who receives the property from the deceased explicit particular person, as specified inside the will. It is critical to note {{that a}} legatee will probably be an individual or an organization, akin to a charity or a perception.

A witness is printed as a person who indicators a will inside the presence of the testator (the actual particular person making the need) and inside the presence of each other, with the intention of testifying the signature of the testator to the need. The witnesses play an mandatory operate inside the execution of a will, as their signatures attest to the authenticity of the need and might be utilized as proof of its validity in case of any disputes.

A beneficiary inside the will can even be appointed as an executor of the need. However, it’s prompt to appoint an unbiased one which has no non-public curiosity inside the will to behave as an executor. This will assist make certain that the wants of the testator are carried out simply and successfully. Also, the witnesses should not be the beneficiary inside the will.

If you are undecided about who to appoint as a result of the executor and witnesses of your will, you may take into consideration looking for the advice of educated.

Neha Pathak is head of perception & property planning at Motilal Oswal Private Wealth.

Catch the entire Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.
Download The Mint News App to get Daily Market Updates.

More
Less