COVID-19 is a contagious pandemic newly discovered in the year 2019. The total number of cases in India till now have been 14.5 Million and 140 Million cases worldwide. The COVID-19 pandemic has affected millions of people throughout the world as it is a highly contagious disease. There is no security for life as it can affect anyone. It has not only affected the economy but has also caused social distress amongst everyone. As COVID-19 is a present danger and does not seem to be getting eradicated soon, as a result, there is a major threat to the lives of people, especially the elderly.
The pandemic affects us irrespective of age, caste, sex, etc. The COVID-19 pandemic has made everyone rethink their future. If someone dies due to the COVID-19 virus, his family should be financially secured. A WILL shall help that happen by the distribution of assets to the members of a family accordingly. Hence, it is very important to note that one cannot take succession lightly. Succession planning has never been so important ever before as it is now.
A WILL is a legal document enforceable by law that outlines the arrangement necessary for the distribution of property and management of a person’s wealth on the demise of that person. Anyone and everyone can make a Will. It provides guardianship of the finance and assets of the family.
A Will can be handwritten or typed. A person can himself make a WILL on his own, but it is better to consult a lawyer to make sure that the task is done properly. Registration of a WILL is not compulsory.
A few things that are necessary while making a WILL is to plan who will inherit your assets and the division of these assets. A person has to incorporate all his movable and immovable assets in a WILL. One will also have to appoint an Executor. Think very carefully as to who has to be appointed as an Executor, as this appointed person will have to be the trusted one. The responsibility of proper division of property lies on the Executor on the death/ demise of the maker of the WILL. Also, an important point that two witnesses are required to sign the Will in front of the person making a WILL (Testator) and vice versa. Witnesses can be anyone other than the beneficiaries of the WILL. The Will shall come into force only when the WILL maker has passed away, not before that.
The major advantage of having a WILL is the maker of the WILL can revise and reverse the WILL at any time. The Will maker can also add and subtract their legal heirs from the Will. By WILL, a person can secure his loved ones and distribute his properties as per his wishes. If a person dies intestate (without making a WILL) then his properties shall be distributed as per the law of his religion.
Therefore in times of pandemics, one must make a WILL irrespective of his age.
Author – Adv. Stefra Rodrigues & Adv. Shweta Tungare
