SAMPLE WILL
I, _____________, aged ___ years, S/O ______________, resident of House No. ______, Sector ____ District________ State ________ do hereby make and declare my this WILL, in a sound and disposing state of mind, with my own free will and consent, without any undue pressure or influence of anybody and with my full senses as under:-
That at present, I am residing with my wife Mrs. ______________, both my sons namely Mr. ______________and Mr. ______________along with their families at the above said address.
I am executing this WILL with the motive that the disputes and differences may not arise among my legal heirs after my death in respect of my assets and properties.
I state that I am the sole owner in possession of House No. ______, Sector ____ District________ State _______. Besides thisI am also having two saving banks accounts in (Bank name), Sector ____ District________ State ________and (Bank name), Sector ______District________ State________, and a locker with (Bank name), Sector ______District________ State________.
That by virtue of this WILL, I bequeath my above said House No. ______, Sector ____ District________ State ________ and money and articles lying deposited in above said two saving bank accounts and one locker in favour of my wife Mrs. ________ who is residing with me at House No. ______, Sector ____ District________ State ________ .
That in case my wife Mrs. ________ predeceased me, in that eventuality, my above said property i.e. House No. ______, Sector ____ District________ State ________ shall devolve in equal share to both my sons namely Mr. ____ and Mr. ____ who are also residing with me. Thus both my sons shall become the absolute owners of House No. ______, Sector ____ District________ State ________ to the extent of ½ share each and will also become entitled for the money and articles lying deposited in the above said bank accounts and locker in equal share after my death.
In case my wife Mrs. ________ predeceased me both my sons namely Mr. ________ and Mr. ________ shall inherit the above said properties in equal shares on the basis of this Will and they will be having all rights, title and interest in my aforesaid properties as I am having at present.
In case I acquire any movable or immovable properties in future, the same shall also be inherited by my wife and in case my wife predeceases me then both my sons Mr. ________ and Mr. ________ will inherit that property in equal share.
Appointment of Executor
I appoint Mr./Mrs. __________, R/o ________________ to be the sole executor of my Will but if he/she predeceases me or is unable or unwilling to act as my Executor, then Mr./Mrs. __________, R/o ________________ shall be appointed on his/her behalf.
No individual acting as an Executor under this Will will be required to give any security for the performance of his or her duties notwithstanding the laws of any country or other jurisdiction to the contrary.
Powers of my Executor
To carry out the terms of my Will, I give my Executor the following duties and powers with respect to my estate:
- To pay my legally enforceable debts, funeral expenses and all expenses in connection with the administration d my estate and trusts created by my Will as soon as convenient after my death. If any of the real property devised in my Wills remains subject to a mortgage at the time of my death, then I direct that the devisee taking that mortgaged property will take the property subject to that mortgage and that the devisee will not be entitled to have the mortgage paid out or resolved from the remaining assets of the residue of my estate;
- To take all legal actions to have the probate of my Will completed as quickly and simply as possible, if required by law, or if deemed necessary by the Executor, under the laws of India;
- To retain, exchange, insure, repair improve, sell or dispose of or any and all personal property belonging to my estate as specified in this will, and if not specifically specified as my Executor deems advisable without liability for loss or depreciation;
- To invest, manage, lease, rent, exchange, mortgage, sell, dispose of or give options without being limited to term and to insure, repair, improve, or add to or otherwise deal with any and all real property belonging to my estate as specified in this will;
- To purchase, maintain, convert and liquidate investments or securities, and to vote stock, or exercise any option concerning any investments or securities without liability for loss;
- To open or close bank accounts;
- To maintain, continue, dissolve, change or sell any business which is part of my estate, or to purchase any business if deemed necessary or beneficial to my estate by me Executor;
- To maintain, settle, abandon, sue or defend, or otherwise deal with any lawsuit against my estate;
- To employ any lawyer, accountant or other professionals; and
- Except as otherwise provided in this Will, to act as my Trustee by holding in trust the share of any minor beneficiary, and to keep such share invested, pay the income or capital or as much of either or both as my Executor considers available for the maintenance, education, advancement or benefit of such minor beneficiary and to pay or transfer the capital of such share or the amount remaining of that share to such beneficiary when he or she reaches the age of majority or, during the minority of such beneficiary, to pay or transfer such share to any parent or guardian of such beneficiary subject to like conditions and the receipt of any such parent or guardian discharges my Executor.
The above authority and powers granted to my Executor are in addition to any powers and elective rights conferred by provincial/territorial or federal law or by any other provision of this Will and me be exercised as often as required and without application to or approval by any court.
Compensation of Executor
My Executor shall be entitled to charge and be paid all usual professional fees or other charges for business transacted, time expended and acts done by my Executor or my Executor’s in connection with the administration of my estate and the trusts of this my Will, including acts which a Trustee not being in any professional or business could have done personally.
Key terms
By virtue of this will, I want to make it clear that I will remain the absolute owner of all my aforesaid assets and properties till I am alive. After my death, my aforesaid properties shall be inherited in the manner as mentioned above.
That I am executing this WILL with my free wish and consent and without any influence, pressure or coercion from anybody.
This is my first and the last WILL in respect of my aforesaid properties and if anybody sets any claim on the basis of any other document other than the present WILL, then the same shall be considered as illegal, null and void and the same shall not be sustainable.
In witness whereof, after reading and understanding its contents and after finding the same to be correct, I have set my hands on this deed at ________ on this ___ day of ________ 20___ in the presence of the following witnesses.
WITNESS NO. 1 TESTATOR
WITNESS NO.2
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