Will

A tale of unsettled wealth.

- Amulya Rasalkar

Mr. Tinaikar, at a young age, had progressed rapidly to become a CEO of a company and built sizable assets to ensure a leisurely retired life. Being a type A personality, he was restless most of the time and always in a hurry. One day, before he could realise it, he had a massive heart attack and left the world without making a will.

Now arose the issue of the distribution of his wealth. He was married but living separately from his wife and staying with another woman whom he had not married, as he had not yet divorced his wife. Both came forward to claim his large assets. Both had to go to court to stake their claims. The matter is yet to be decided by the court. As the assets of Tinaikar were self-made, he could have given his assets to anyone of his choice. A legal 'will,' also called will and testament, is a legal document wherein one outlines how his assets are to be distributed after his death. If a person dies without making a will, he is said to have died intestate. A will, once made, is effective perpetually unless a new will is made with the statement that the new will cancels all previous wills.

Any person who is a major and of sound mind can make a will.

A will can be even an oral statement in the presence of a few witnesses.

A will need not be registered.