The biggest mistakes even well-educated people make is not putting their achievements on paper so today if you are over 40 years have a wife and children do not forget to pen your WILL on a plain paper or a stamp paper and get it attested by an advocate.
Making your will is very easy
First put in your name address and the names of all the persons you want to share your assets, next to that their relation with you.
Then you will have to decide on the executor of WILL in simple words, who you have the trust should be appointed as executor, for he is responsible for division of all your assets as per your wish as penned in the WILL.
Second, List all the property to the finest details that have been purchased by you or are in your name. Joint property need the additional will of the other person, you can only handover your share 50% 30% or as per your holding in this will.
Against each property put down your share and the name of the other shareholders and the percentage
List all the shares or bonds lying with you again with name and share holding
List your Jewellery, precious glassware or antiques that you possess
List your fixed deposit and bank accounts.
List any money lying with friends or relatives as loans
List any liabilities like loans to banks or loan of car which has still to be paid
List who will take charge of your business
List who will take care of your income royalty or legacy if you have created during your life time.
I have tried to list as much as possible please add any item which is important and not covered by me and make a beautiful WILL which is so transparent that the next generation do not have to struggle to get your love and attention and can live happily and together as a big family
This is very important and do it methodically, so nothing is left loose or forgotten
Once this is clear, what belongs to you?
Decide on what happens when you are no more.
First, what goes to spouse?
Second, what goes to children?
Third, what goes to further family and friends?
and next to that, put an exact percentage of distribution.
Next, you have to decide if you want to give it now or on your death.
And last, What happens to the balance? or what is not mentioned in the will, how it has to be divided and to whom.
This typed sheet of paper has no value till you can prove that it was made with full conscience of the consequences that will take place, in short you have made it with sound mind and not under any pressure so you may have to get it certified by a doctor best your family doctor signs on it.
QUOTOS, Now that you’re WILL is typed completed ready as you wanted it to the last details, also signed by a doctor to proof that you have done this with the best of intensions you need to get it registered or notarized depending on the procedures in your country.
Now seal and put it in a safe place which is likely to be opened after your death.
