If you have the 'will', there's a way to avoid property disputes

Prolonged property disputes are common in our country. While most parties resort to legal action in such a scenario, there have also been many instances of these disputes taking an ugly turn. The conflict often starts when the 'head' of the family passes away intestate (without making a will), leaving behind the surviving heirs and family members to fight over the former's assets. All of these are easily avoidable — that is, if you make a will.

Why a will is necessary

Avoiding property disputes and uncertainty is only one of the many advantages of leaving a will behind. In the absence of a will, it's not easy for your successor(s) to claim their inheritance. Tedious legal procedures await them, and it might be months or even years before they get what is rightfully theirs.

A will is a must if there are minor children involved. You can appoint a guardian of your choice — someone you trust implicitly — to take care of your children and their inheritance in the will.

Assets, your way

Assets division in the absence of a will might not happen as you envisioned it. For example, you might have wanted to give your youngest child a particular plot of land or a house, but it might go to your eldest one. Or, you might have wanted to give a larger share of your bank savings to one financially weaker child, but the money might be shared equally.

Hindu Succession Act, 1956

As per this Act, if a Hindu married man dies intestate, his children, wife and mother get an equal share in his property. However, if a Hindu married woman passes away without leaving a will, her assets are divided into three categories: self-acquired, inherited from her parents, and inherited from husband/father-in-law.

Many people desist from making a will, fearing it's too complicated a process. But nothing could be further from the truth. Any Indian adult can make a will if mentally sound and not forced or coerced to create one.