There is no doubt that a person can only make a will on property that belongs to him. The rule of thumb is that you can only transmit what you have. If the testator`s rights to the immovable property do not exist, a property will drawn up by the testator is null and void. Sometimes some countries recognize wills made in another jurisdiction. For example, a will may be valid abroad if it fulfills all the formalities provided for by the laws of foreign jurisdiction. However, some countries will not recognize a will made in another country under any circumstances or only in a particular situation. Belgium, Bosnia and Herzegovina, Canada (for 9 provinces, not Quebec), Cyprus, Ecuador, France, Italy, Libya, Niger, Portugal, Slovenia, Slovenia, Iran, Laos, Russian Federation, Sierra Leone, United Kingdom and the United States have signed but not ratified. International wills are only valid if the Convention applies. Although the United States has not ratified on behalf of any state, the unified law has been enacted in 23 states and the District of Columbia. Tax planning is often used by a testator in a will. The social aspects may also require that the deceased does not transfer the property specifically to one or more legatees, but creates confidence in the building or part of the property, by mentioning the beneficiaries but making undetermined shares available to the beneficiaries and leaving the distribution of income or corpus to the trustees of the trust, taking into account the necessity or requirement of the various persons mentioned in the trust deed as beneficiaries. The obvious advantage of using this method is that the income or corpus of assets held in trust is distributed to some or all of the beneficiaries based on the needs of those beneficiaries, such as education, marriage, life outlook, etc. The tax benefit arises when the trust created by will does not transfer the income or corpus separately to one or more beneficiaries, but provides indefinite portions of the income or assets at the discretion of the trustees.

In the case of such a trust established by will, it is a separate taxable entity that must be taxed at the appropriate rate rather than the highest tax rate, which would be the case if such a trust with indeterminate shares were created during its lifetime. However, only such an indeterminate share trust may be created in order to benefit from appropriate taxation. The advantage would be that the income distributed by the trustees is not taxable in the hands of the beneficiaries, who receive it, but is taxed in the hands of the trustees at the appropriate rate and not at the maximum rate. When a trust is created with certain shares of the beneficiary`s income or corpus to which a beneficiary is entitled, the income or assets are added to the beneficiary`s income or assets. This situation is avoided by creating a trust by will with indeterminate shares. Although it has sometimes been assumed that a “will” was historically limited to real property, while “will” applies only to dispositions of personal property (which has led to the document`s popular title as “Last Will and Will”), historical records show that the terms were used interchangeably. Thus, the word “will” applies to both personal and real property. A will can also give rise to a testamentary trust that does not take effect until after the testator`s death. Any movable or immovable property may be disposed of by its owner by means of a will, this property must be the property of this person acquired by himself and must not be the ancestral property of the testator.

Section 30 of the Hindu Succession Act, 1956 provides that any Hindu may, by will or other testamentary disposition, dispose of any property which he may dispose of in accordance with the law. Guardian for minors – If the testator wishes to hand over his property to a minor beneficiary, he must in all cases appoint a guardian who will take care of the minor`s property until he is of age. But see CIT v/s. Kamalini Khatau, 209 ITR 101 (SC), if it is held that if a beneficiary of a discretionary trust has received income from the trust, the income tax department is free to tax the beneficiary on the income received under section 166, allowing for such a direct assessment. This type of planning has obvious advantages: (1) income or assets are not included in the assessment of the beneficiaries of such a trust, and (2) the trust is taxed as an independent entity at a reasonable rate. Thus, beneficiaries` contributions are not disrupted unless a beneficiary receives income, in which case division has the option of taxing the beneficiary directly on that income in conjunction with his or her other income. (See CWT v. Arvind Narottam, 102 ITR 232 (Guj). (4) The trustees have the discretion to allocate income and property among the beneficiaries in such proportion as they consider necessary from time to time, so that they may allocate the estate according to the needs of the beneficiaries. While they may have the authority not to distribute, but to accumulate income or distribute it to some and not to others, in addition, if a long trust period is mentioned, provision may be made to accelerate or extend the distribution period. Other future beneficiaries can also be added, such as the future spouse or children of existing beneficiaries. Medical living wills (living wills): Unlike other types of wills, a living will does not distribute property after the testator dies.

Instead, there are instructions on the type of medical treatment you want to receive if you become too sick to communicate. For example, you might say that if you become terminally ill and unconscious, you don`t want to be hooked up to a feeding tube, even if you`ve died without it. The formal requirements for a living will are more flexible than for a will, but must be clear and detailed. Undue influence: Section 16 of the Indian Contract Act is considered undue influence when the relationship between the two parties is such that one party is able to override the will of the other and use that position to gain an unfair advantage over the other. However, neither a fiduciary relationship nor a dominant position would presume undue influence in the case of wills, since not all influences are illegal. Persuasion based on affection or attachments is allowed. A person`s influence in a fiduciary relationship would be lawful as long as the testator understands what he is doing. Thus, it can be said that a testator can be directed, but not driven. If you are in need or have very simple wishes, a legal will may work well for you.

However, these wills are not very flexible and you may not be able to adapt them to your needs. In case you want to make additions to your existing will, a codicil can be drafted, which is a legal document that serves as a complement to your will.