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Do I really need a Will? Not Old, neither millionaire !!

  • 2023-02-06

Isn’t this our common reply when someone asks us about our “Will”? Do we always talk about age , being a millionaire when we nominate, buy insurance, wear helmet or check if car has airbag?

Let’s think about nomination. Why do we nominate even when we are in our 20s-40s and hopefully quite fit? 

What about insurance? Why do we take our first life insurance when we are in the prime of our lives? And that too of large insured sums.  

Not because we think we're going to fall severely sick or take an untimely exit but just to secure the future for us and our loved ones, isn’t it? 

Looks hard and rude, but the only thing certain and will 100% occur is Death. Don’t even know when it will occur. I can be the safest driver on road , the guy coming from the opposite side may not be! Accidents, stress, heart ailments in young people, new diseases- you suddenly never know what will happen next. Who thought of a virus creating so much havoc and grief across the world. Can’t escape it, but can secure the future of our loved ones. 

Also , with Lakhs of pending cases of Property disputes and most of them around inheritance are telling us that it’s high time we start thinking about ‘Will’ more like a security cover for our kin rather than blowing it off by saying ‘I don’t have that kind of wealth to make a will for.’  I’m sure those lakhs of people whose living generations are fighting for their rights would have not thought of the situation they are put in just because of the unavailability of proper documentation.

And yes, I need to give special credits to our entertainment industry for scaring off people for creating their will by showing once the Will is made, you remain of no value for your kin. C’mon, don’t tell me that this thought never occurred to you whenever you have been advised to make a Will. 

But today take a pause and think, do we really think so less of our own upbringing? And that the next generation is going to weigh you or value you just because you have some assets on your name?  Chalo let’s believe it as true for a moment, but who says you have to make a Will with an announcement telling everyone around and by calling lawyers and legal officials at home with all the taamjham. 

As we read in our last article, ‘Will’ is a document created by a sound mind person in the presence of 2 witnesses is considered as a law abiding will. Do read that blog to understand how easy it is make a legally valid Will from the comfort and privacy of your home / office. 18 and above , have any asset - vehicle , house, bank balance, fixed deposit, expensive mobiles , etc - You should make a Will.


All we have to do is to change our mindset and see Will as a dispute solver, a cover and not as a dispute maker. Or make our peace with the fact that our case can be one more added to the lakhs already pending in the court of law. 

Choice is ours to make!!

Please note that all content provided in the blogs are for informational and educational purposes only. They are neither investment, accounting, taxation nor legal advice, and should be treated as such. The writes make no representations as to the accuracy or completeness of any content or information contained herein or found by following any link on these blogs.

Comments

Shailendra Katre
10 Dec 2024

clrear doubt

Guest User
25 Jun 2024

Test scsad

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