Bhasin Consultancy Explains The Importance of Creating a Will

DELHI, India - Oct. 7, 2016 - PRLog -- A Will is a legal declaration made by an individual, wherein he/she lists out the names of the people, who would inherit his/her estate after his/her demise. Most people find it a hassle and time-consuming process to create this declaration. They fail to understand the significance of having this legal document. In this context, the Senior Attorney of Bhasin Consultancy, a reputed law firm having highly experienced Family Lawyers in West Delhi, explains why it is important to create a Will.

He says, "There are several reasons why one should make a conscious effort to form a Will. Firstly, such declaration states explicit instructions pertaining to the distribution of the deceased's property. It clearly mentions the names of those who have a right on the property and their corresponding share of the estate, thereby leaving little scope of disputes or confusion amongst the family members. Secondly, it enables one to choose only those people whom one would want to inherit the estate. In the absence of a Will, the property is distributed as per the Hindu Succession Act, and may be inherited by even those people whom the deceased may not have liked during his/her lifetime, or may not have wanted to have a share in his/her property. A Will also helps in creating a safety net for minor children. Further, it also helps in safeguarding the business. One may transfer the company ownership and the power of attorney to the individual who is best suited for the title, thereby reducing the possibility of the business going into the wrong hands."

He continues, "In scenarios of remarriage, a Will can aid in ensuring that the children from the first marriage receive their eligible share of the estate. Apart from family members, one may also include the names of friends or even a charity or any other firm. It is important to bear in mind that this is not an irrevocable instrument, and hence can be revoked or modified by the testator at any point during his/her lifetime. If the testator wishes, he can also exclude someone's name from the instrument."

There can be no argument pertaining to the necessity of creating a Will, as it is the first step towards protection of property and avoidance of disputes. The testator should ensure to write a Will which is easily comprehensible. For expert advice, one may get in touch with the team of Family Lawyers in West Delhi at Bhasin Consultancy.

For More Detail : http://www.bhasinconsultancy.com/family-law.html