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Friday, June 6, 2014

How to select an executor to WILL?

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How to select an executor to WILL?

The executor is the most important person in the WILL, as it is the executor on whose request probate is granted by court. Probate is certified copy of the WILL which court issues on application of the executor appointed in the WILL. This is done to confirm the validity of the WILL and the executor's right to administer the estate of the deceased. You cannot just name an executor just like that while writing a will as he/she is under no compulsion to become so. So it is better to inform the person in advance and take his permission if he's ready to act as executor to your WILL or not. Executor can be anyone from your beneficiaries or can be a third person. He must be honest, faithful and person of confidence, as he'll be the legal representative for all purposes of a deceased person. It is better to have someone younger to you as executor and as far as possible also appoint an alternate executor to answer the situation in case executor predeceases the testator.

You may also appoint law firm, a company, a trust, a bank etc. individually or jointly with other executor to act as your single or co-executor of WILL.

Selecting Witnesses

There has to be at least 2 witnesses to your WILL, without their signatures the WILL would be treated as VOID. Witnesses should not be among your beneficiaries. Witness's job is not to confirm the content of the WILL, they just have to validate that the testator has signed in their presence.

As per section 63 of succession act, "Will is to be attested by two or more witnesses and each of whom should have seen the testator signing or affixing his mark to Will or has seen other person signing the WILL in the presence and by direction of the testator and each of the witnesses shall sign the WILL in presence of testator".

As WILL is to be written by person of sound mind, so it is advisable to have one of the witnesses as Doctor who can confirm that you are of sound mind and also if possible get a lawyer as one of the witness, whom you can also take advice from on the legal structure of the WILL.

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