All You Want To Know About A Will

We all are mortal, and this is the harsh fact of life. You achieve so much in life through hard work and struggle. You save every penny of your income and buy a new house for yourself. You buy so many valuables – properties, cars, valuable jewels and more. But, what are you going to take with you when you are gone? Nothing! So, what is going to happen to all your assets after you are gone?


You may say that all your wealth and assets will be transferred to your spouse or children. But, how can you be so sure that your property will be equally divided amongst your own people? It will be the state you live in that will decide on who the recipients will be and how the property will be divided amongst them. But, it may be that you wished for something else. So, in order to transfer your properties among the people you want, in the manner you want, you need to prepare a ‘Will’.

What is a Will?

A Will is a legal document that you can write once you are above 21 years of age, representing how you want your assets to be distributed after you are gone. This is a way you can plan who your successors will be and what percentage of property will be transferred to each of them, which will save any kind of disputes at the time of property distribution. This is one of the most important documents you will ever write. Make sure that your Will complies with the State laws so that it is considered valid. It is better if you appoint a lawyer to help you out with this. Your Will may include every property you own – cash, properties, furniture, jewellery, vehicles, bank accounts, shares, etc.

How to write a Will?

In India, it isn’t necessary that you write your Will on a stamp paper; a plain white paper will do. But, it is advisable to write your Will in your own handwriting so that it can be verified after your death in case of any doubts raised by relatives.

In order to write a Will, you will need a Testator if you want someone else to write for you, an Executor who will ensure that all your property is responsibly distributed and two witnesses to justify your document.

First of all, you will need to declare at the very beginning that you are in your full senses while making this Will and are not doing so under any pressure. Mention all details about you to confirm the same.

You need to be very specific while writing which property will be given to which individual. Clearly state the complete names of the receivers and also of your residential and commercial properties, if they are multiple in numbers. If you are giving your assets to a minor, make sure to appoint a trustworthy custodian of your assets until he/she reaches an adult age. In case of any debts or taxes, you will be stating the name of an executor who will be responsible for paying them after you.

At the end of the Will, sign carefully in the presence of two witnesses. Also, mention clearly the date and place of writing the Will. The witnesses will also be signing the Will along with you. Seal the Will properly and bear your signature and date of sealing on the envelope.

Can a Will be changed?

A Will is a fluid document that can be changed as and when you require. There may be chances you want to add or remove the name of a recipient or update your Will after major life changes like marriage or divorce, buying more property or additions to your family. But, make sure that whenever you make any changes, you mention the date and confirm that this is your latest Will and all previous Wills should be nullified.

If you want to add a residential property to your assets and if Bangalore is the place for you, there would be no better place than Adisesh Green City to gift to your loved ones. Located near Hoskote in the midst of Narasapura industrial layout, this lake view residential plot in the non-pollution zone, surrounded by top MNCs is a great place for you to live in now, and will also prove fruitful to those who will receive it after you.


Guidelines For Women Investing In Real Estate

Women are running neck-to-neck with men everywhere in every field. Parents are letting their daughters study as much as they want to and pursue a career in whichever field they like. These daughters grow up to become self dependent individuals and have a respectful and confident image in the society. Such women, whether single or married, are also putting their foot forward in investing in real estate. Buying a residential property is no more only a man’s game. Almost 30% of property buyers in India are now women. If you are one of them and are looking to buy a residential property for yourself, you need to look at the below mentioned points to know that you are striking the right deal.


Why do you need the property?

You need to answer this question first. Are you buying the property for living in it or to rent it out or only for investment purpose? You need to look at a property at different angles for every different reason. If it is for living in, you need to find a property in the midst of the city with all basic requirements around. If you want to rent it out, you need only the basic requirements to be fulfilled. If it is for investment purpose, you must invest in the outskirts where property prices are low at present and will rise in the future giving you great ROI.

Adisesh Green City in Narasapura, Bangalore spread over 30 acres of land is one great place to invest in, whether you want to live there or for investment purpose. Its amazing pollution-free atmosphere and proximity to nature, with greenery and woods surrounding the property and ‘green’ amenities like water treatment plant, sewage treatment plans and rain water harvesting is sure to make it the best deal for you.

Know your budget and finances

It is very important to have a budget in mind before looking for a property. Analyze how much savings you have, how much monthly expenses you make, what is your future growth at your workplace and what is the permanency of your job. Only then can you know how much you can afford. Stick to it and try not exceeding the limit. A little flexibility is alright but you can’t just jump over your budget because the home you like is offering great not-so-important luxuries. Also, don’t invest all your savings in the down payment. Keep some money in hand for immediate repairs required or in case of an emergency. While considering a home loan, make sure to calculate the EMIs you will have to pay. The EMI should not be more than 30-35% of your monthly income.

What concessions can you get?

Do you know that women are entitled to certain concessions? Learn about them and take advantage of these benefits. Certain states provide lower stamp duty charges for women home buyers. For example, Delhi and Haryana provide a 2% lower stamp duty for women as compared to other states. Also, banks like SBI offer home loans to women at cheaper interest rates than to men. Check for all these types of concessions before you make a purchase.

Hire a real estate agent

You may have learnt the rules for investing in real estate. You might have studied all the possible advantages you can get. You might have also analyzed property rates in the locations you prefer. But still, hiring a reputed real estate agent would prove beneficial because you will be able to rely on him to help you strike the best deal and let you know if you are being met with a fraud if at all because he knows the market in and out. But, make sure that the agent you hire is reputed and well-known for his work or else he himself might dupe you. Contact your friends and family to get in touch with professional real estate agents.