What exactly is a Will?

A Will, often referred to as a "Last Will and Testament," is a legal document that outlines your wishes regarding the distribution of your assets and the care of your dependents after you pass away.

A Will serves the following key functions

Communicates your wishes regarding distribution of your assets to your loved ones.

Provides clarity on the list of assets heldto ensure your money doesn't end up in unclaimed accounts.

Reduce the chances of disputes and prevent legal battles among family members.

Enables you to make key decisions regarding who should be the Guardian of your minor children, and Executor of your estate, among other things.

What happens without a Will?

If an Indian passes away without leaving a Will, it is known as "intestate death". Your estate will become subject to the Indian Succession Act, the Hindu Succession Act, and multiple other complex personal laws. These laws decide who your beneficiaries or legal heirs will be, in what proportion your assets will be distributed, and who will be the Guardian of your children.

How to make a Will in India

The below points constitute the basic requirements to make a Will in india

Not required for a legally binding and valid Will:

By choosing Yellow to create your Will, you're ensuring that all essential details are meticulously included, meeting the highest standards for a legally robust Will.

The importance of making a Will at every age

Whether you're just starting your career or are ready to retire, the best day to create your Will is today.

20-30 years

Career-focused

Put good financial practices in place now, that you can build on as you mature. If you are newly married, it’s time to make sure you have updated your plan to include your spouse.