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Want to know how to go about making a will? Here is everything a woman needs to know about it. Read on.
We slog throughout our life, save every penny by foregoing our little wishes here and there, and create our wealth for ourselves and our families. And yet, we do not put enough effort in planning and writing a will to distribute same wealth after our death.
You might think, “Everything I own will go to my family anyway, so where is the need to make the will?”
But there can be nothing farther from reality. After my father’s death, it was a long legal process to get a succession certificate since he died without a will. Another relative had to go through a 2 year long legal process to get the house owned by her husband transferred in her name.
However, as women in India we face another issue – we think we don’t have anything to make a will. So, let me go about clearing that misconception.
You do have wealth you can include while making a will if you have a roof over your head, if you have a bank account from which you keep on withdrawing money, if you get salary and your PF is being deducted, if you own a business and make money, if you have jewelry, a car, bike, any art work.
Also, many women don’t realize it, but a lot of property in India is bought in women’s name due to stamp duty and tax benefits. You might even have inherited a property in which case, your share needs to be willed.
Read this exclusive Women’s Web post on everything you need to know about making a will.
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