Will preparation checklist

Before you start

• A will must be in writing, signed by you, and witnessed by two people who receive nothing under it.
• Registration is optional in India and plain paper is valid. Stamp paper is not required.
• A newer will replaces an older one, so date it.
• A nomination is not a will. A nominee receives and holds; a will decides who it belongs to.

What to gather

• Every bank account, with institution and last four digits
• Every mutual fund folio and demat account
• EPF, PPF and NPS account details
• Every insurance policy, with policy numbers
• Property documents, with how the title is held
• Gold and other valuables, with an approximate value
• Any locker, and who else can access it
• Loans you owe and loans you have given
• Any business interest or partnership
• Digital assets: domains, accounts with balances, anything with a value attached

What to decide

• Who receives what. Be specific enough that no one has to interpret it.
• What happens if a beneficiary predeceases you.
• Who the executor is, and whether they have agreed.
• Guardianship, if there are children under eighteen.
• Anything with sentimental rather than financial value, which is what families usually argue about.
• Whether anything is streedhan, which is yours absolutely and yours alone to give.

After it is written

• Tell the executor where the original is kept.
• Keep a scanned copy somewhere separate from the original.
• Make sure the nominations on your accounts do not contradict the will.
• Revisit it after any marriage, birth, death, property purchase or business change.

This checklist is general information, not legal advice. Succession law in India varies by personal law and by circumstance. For anything with a disputed title, a business, or beneficiaries abroad, take professional advice.