Why Estate Planning & Will Writing is a Gift to Your Loved Ones

Estate planning and will writing may seem like tasks for the distant future, something to think about “later.” However, in reality, planning your estate is an act of love—it ensures your hard-earned assets are passed on smoothly and safeguards your family from unnecessary legal and emotional distress.

Mr. Jatin Popat, founder and CEO of Will Genie, shared valuable insights during his session with Sukoon Unlimited, shedding light on the importance of succession planning and how timely action can prevent future complications.

The Need for Succession Planning

We meticulously plan for education, careers, marriage, and even retirement. But what about the legacy we leave behind? Many people overlook estate planning, assuming they have time or that legal processes will take care of everything. Unfortunately, lack of proper planning can lead to disputes, delays, and financial hardships for our loved ones.

Estate planning is not about contemplating the end—it is about ensuring your wealth benefits your family in a structured and hassle-free manner. As Mr. Popat emphasized, this process extends beyond will writing; it includes setting up family trusts, appointing legal guardians, and planning for tax efficiency.

Will Writing – Not Just for the Elderly

A common misconception is that wills are only for seniors. However, unexpected events can happen at any stage of life, and an unplanned estate can leave families in legal limbo. Whether you are 30 or 70, having a will ensures that your assets—property, bank accounts, investments, and even sentimental valuables—are distributed as per your wishes.

If you are someone who believes that writing a will is a task to be done after retirement, reconsider. Protecting your loved ones from financial and legal complications is a responsibility at any age.

Common Myths About Wills

“I have a nominee; I don’t need a will.”
A nominee is only a custodian, not the legal owner. Your legal heirs may still have to go through court proceedings to claim their rightful inheritance.

“A will must be registered to be valid.”
In India, a simple, handwritten will signed in the presence of two witnesses is legally valid. Registration is recommended but not mandatory.

“Once written, a will cannot be changed.”
A will can and should be updated as life circumstances change—marriage, the birth of children, changes in assets, or shifting family dynamics.

Family Trusts – A Smarter Way to Secure Wealth

For those with large or complex estates, setting up a family trust can be a strategic way to distribute assets. Trusts provide:

• Protection from legal disputes
• Minimized tax liabilities
• Financial security for dependents, including minors or family members with special needs

The Will Writing Checklist

Creating a will doesn’t have to be overwhelming. Here’s a step-by-step guide to get started: 

✔ List your assets (movable and immovable)
✔ Identify beneficiaries
✔ Appoint an executor (someone you trust to carry out your wishes)
✔ Specify charitable donations, if any
✔ Use clear, unambiguous language
✔ Have two witnesses sign the document

Remember, a well-written will reduces the chances of confusion, disputes, or legal battles among family members.

Understanding Property Rights and Inheritance Laws in India

Legal complexities often make inheritance a confusing topic. Here are some key aspects you should know:

🔹 Ancestral vs. Self-Acquired Property
Many assume that inherited property automatically remains ancestral. However, once legally transferred, it becomes the personal property of the new owner and is no longer classified as ancestral.

🔹 Does a New Will Override an Old One?
Yes! The most recent legally valid will takes precedence. Ensure older wills are explicitly revoked to prevent disputes.

🔹 Inheritance Rights of Children from a Previous Marriage
In cases of remarriage, inheritance depends on the will. If not specified, legal battles can arise. It’s crucial to document your wishes clearly.

🔹 Mutation Process for Property Transfer
Mutation is the process of transferring a property’s title to legal heirs. It requires cooperation among all heirs and involves legal documentation, stamp duty, and unpaid taxes.

Why You Should Act Now

Life is unpredictable, but securing your family’s future doesn’t have to be. As Mr. Popat rightly said, estate planning isn’t about preparing for death—it’s about protecting the people you love.

At Sukoon Unlimited, we believe in empowering seniors (and younger individuals too!) to take charge of their financial well-being. Will writing and estate planning bring peace of mind, ensuring that your legacy is honored exactly as you intended.

If you’re unsure where to start, consult experts like Will Genie or trusted legal professionals. A well-thought-out plan today can save your family from unnecessary stress tomorrow.

Because planning today means peace of mind for a lifetime.