Will

It is a versatile instrument suited for the wealthy, but it must be drafted carefully

Devolution of property would be governed under the Hindu Succession Act, the Indian Succession Act, or the respective personal laws for Muslims in case there's no Will

It's exempted from the probate process; courts don't get involved in its execution

It's important for all heirs to present a united front to give comfort to banks/depository participants

In Uma Maheshwari vs United India Insurance Co, the court again raised the compensation reduced by the Karnataka High Court

But in serious cases, a lawyer arguing in person can be more persuasive

Online platforms offer Will-making consultations, Will-drafting services, some providing do-it-yourself Will-writing software

However, if you wish to make major changes, writing a new Will altogether would be a better idea

It all began in 2004, when the former chairman of Birla Corporation, Priyamvada Birla, died

But revealing its entire content to successors can prove counterproductive

Though it is not mandatory, it is advisable to register a Will. This will help your family members at the time of execution