BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A will or testament is a legal document by which a person, the testator, expresses their wishes as to how their property is to be distributed at death, and names one or more persons, the executor, to manage the estate until its final distribution. For the devolution of property not disposed of by will.

Detailed explanation-2: -A will is a way to succession planning that ensures that the individual’s property or any other asset, is given to the preferred family members without any dispute at the time of property distribution. There are two different ways how the property can be passed on: intestate succession and testamentary succession.

Detailed explanation-3: -Synopsis. Primarily, a Will states what and how the writer’s assets are to be distributed after discharging liabilities of the writer. A person who writes a Will is called a testator. Further, a Will also has to withstand the test of time. Read on to know what is the correct way to write your will.

Detailed explanation-4: -A will or testament is a legal document that expresses a person’s (testator) wishes as to how their property (estate) is to be distributed after their death and as to which person (executor) is to manage the property until its final distribution.

Detailed explanation-5: -(Section 59 of the Indian Succession Act) The person making the Will should have the testamentary capacity, sound disposing mind, knowledge of contents of the Will, Free from undue influence/ fraud/ coercion, and the making of a Will should be a Voluntary act.