Legal Question in Wills and Trusts in India
Probating will
If i write a will allocating my house to one of my children after me,I understand it is desirable to give a settlement deed right now as a will after death in Chennai (India)has to be probated compulsorily by law and it costs a large amount.Settlement deeed in stead is an economical proposition.Pl advise what I should do?Can the beneficiary child not be able to sell the house later ,if so required without probating it ,incurring heavy expenditure then ?will an ordinary will written by me not be good enough allocating my properties to my two children?Pl advise when the settlement deed now becomes a better proposition?
2 Answers from Attorneys
Re: Probating will
Yes, if you can trust your child for transfer of property during your life time, it may be a better solution. An ordinary will is more than enough to divide properties after your death; however, the children may need the will to be probated for the authorities to act upon the same; However, if you are not divesting any legal heir from inheritance, no will may be required; and no writing is required; the legal heirs inherit automatically without any will or settlment.
Re: Probating will
The question of probate comes when someone claims interest in the property given by way of will. If you make will in favour of one child and left two other children, there are possibilities that they may challenge the validity of will by filing a probate suit. Therefore it is better to have a settlement agreement declaring all the points so that after your death no question of probate occur.
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