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Need For A Will:

There are quite a few advantages of executing a Will, namely:

1. A well-drafted Will helps avoid family dispute regarding the property of the testator and in case a dispute arises, the beneficiary of the estate has a formidable document in his favour.
2. The law of inheritance does not consider the fact as to whether the deceased wished or did not wish to let any of the family members inherit his property and in what proportion whereas by way of a Will the testator can apportion the property as per his wish
3. At times it has been seen that the deceased had properties both immoveable and moveable which his inheritors may not know, however, a Will ensures that all kinds of property are fairly distributed by the testator during his lifetime.
4. It is a very standard legal requirement now for transferring real estate, bank deposits, stocks & shares, interest in the business. A well-drafted & registered Will ensures the legal requirements are met.
5. The Will ensures that there are no bogus claims after the death of the testator.

Trust

• For the purpose of estate planning, a Private Trust can be created when the purpose of the Trust is to benefit an individual or a group of individuals or their descendants for any legal purpose who is capable of holding property.
• A Trust maintains confidentiality about the assets and their value.
• Allows for distribution over time, in case you do not trust the beneficiary to handle all assets at once.