Page 30 - Seniors Today - Vol1 Issue 3
P. 30

Toolkit








       Where there is a


       Will…



        …there is no ambiguity. Sonavi Kher
        Desai explains why everyone must get
        a Testamentary Will made




        The English philosopher, John Locke, wrote:
        “Every man has a property in his own person.
        This nobody has a right to, but himself. The
        labour of his body, and the work of his hands,
        we may say, are properly his.” Although he goes
        on to add a moral caveat, we can interpret this as
        the right of every man, through his own effort,
        to acquire property, which belongs entirely and
        only to him. So how does a person’s property
        devolve when he passes on? The answer to that
        depends on whether he has had the foresight to
        leave a “Testamentary Will”— in other words,          until Solon made the law that allowed a person
        whether he has died testate or intestate.             to leave his property to someone outside the
        It is advisable to make a Will to provide for the     family, subject to some conditions.
        distribution of assets after one’s death. A Will      The basic requirement of a valid Will is that
        is a legal document made by a person in his/          the person making it should have been of
        her lifetime, containing directions about how         sound mind and not a minor when the Will
        they want their property to be distributed and/       was made, and it must be made of his/her own
        or managed after their death. Interestingly,          free will. There is no prescribed form for a Will
        the practice of making Wills can be traced to         although it usually follows a certain pattern
        the Greeks. According to Plutarch, property           to ensure that it is sound enough to prevent it
        used to be inherited solely by a person’s family      from being contested. In India, if a person dies























                        Discuss the details of your Will thoroughly with your lawyer, leaving no loopholes
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