• Seek advice on registered will and mode of asset transfer in case of death before marriage

I am a divorcee man and from my ex-wife, I have a 10 years old daughter who stays with my wife. During divorce, I have given one-time alimony and one-time settlement for child maintenance as well. 

Now I am seeing someone with whom I will get married however it will take one more year for me to marry her hence, I want to make sure her life is secured before our marriage itself so that incase I die before marrying her, whatever assets, savings and property I will have, it goes directly to her and not to my daughter or ex-wife. So my queries are - 

1. I have a self acquired property in my name and the home loan is still on. Incase of my death, I want this property to go to my fiancée only and not to my daughter or ex-wife. What should I do?

a. Can a " registered will " be enough to transfer the title or ownership from my name to her name?

b. Can this "registered will" be challenged on court by my ex-wife on behalf of my minor daughter or my sister or by my father ? 

c. What are the points I should specifically mention in my "registered will" so that it can never be challenged or even if someone challenges it, court will reject the challenge and the property will smoothly transfer to her?


2. I want all my assets (savings account, mutual funds, shares) to be transferred to my fiancée in my absence even when we are not married:

a. Can it also be done through the same "Registered Will" by just mentioning that all my saving and mutual funds of so and so account number should be transferred to her and nothing should go to anyone else?

b. As we are still not married yet, can I do a gift deed to transfer the money of savings accounts, mutual funds to her? Which option is good in this scenario for transferring my savings and mutual funds to her - gift deed or Will because I don't want to give a single penny to anyone else from my family , ex-wife or daughter?

3. Regarding Term insurance - 

a. As we are still not married, can I still put her name as nominee on my term insurance? What justification can I put in front of the Insurer if I am asked the reason for my decision of adding her as a nominee?

b. And if I put this information on "Registered will" also that upon my death, insurance company should pay her the insured amount, will it be possible? Or the insurance amount will only go to my blood relatives?

Will appreciate your valuable advice.
Asked 2 years ago in Family Law
Religion: Hindu

3 answers received in 30 minutes.

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7 Answers

1) you can execute will bequeathing property to your fiancée

 

2) on basis of will fiancée has to apply for mutation of property in her name 

 

3) your ex wife can on behalf of daughter challenge regd will 

 

4) reasons should be mentioned for dis inheriting daughter 

 

5) mention details of other assets to be transferred to fiancée 

 

6) insurance company would pay policy proceeds to beneficiaries in will but may insist on probate of will 

Ajay Sethi
Advocate, Mumbai
94726 Answers
7536 Consultations

5.0 on 5.0

  1. Self acquired property can be bequeathed on anyone by the testator/person making will. It is better and safe to gift such property through registered gift deed. As question of any challenge to will does not arise.
  2. A unregistered will is as valid as registered will, but if it is convenient it is better to execute a registered will. There is no stamp duty for registration of will only registration  charges are to be paid.  
  3. Any instrument is open to challenge. But if the property is self acquired and will is properly registered, challenge will not stand in Court.
  4. A will can be executed on any paper. It is executed on stamp paper so as not to create any doubt of date of execution of will. Will can be registered of un-registered. An un-registered will is as valid as registered will. But if the will is registered, no stamp duty is charged on will, only registration fee has to be paid. But is safer to register will as that will rule out the doubt as to signature of testator/will maker. After drafting of will the testator/will maker has to sign the will in the presence of  two attesters/witnesses to the execution of will, the witness should state/endorse on the will that they saw the will maker signing the will. As no stamp duty is required for registration  of will, you have to pay only lawyer’s fee for drafting will, that will not be more than 5 K in any case.
  5. A single will is sufficient to bequeath all immovable property and movable property. executing two will creates confusion as there can be contradictions.
  6. As advises earlier, it is safe to register a gift deed during lifetime. If any complication arises, you will be there to solve.
  7. It is your right to nominate any xyz as the transferee of insurance claim. Insurer has to right to question your choice.
  8. Any one can named as claimant of your insurance claim. The question of legal heir arises only when there is no will or nominee. You can also mention the same in your will.

Ravi Shinde
Advocate, Hyderabad
4042 Answers
42 Consultations

5.0 on 5.0

1.a.  In any case your ex wife cannot claim any share in it as a right,  however if you bequeath the property to your fiancee's name,  then nobody can claim any share in the property other than the beneficiary of the Will. 

B. Even if challenged it may not be maintainable because it is a registered Will which would clearly indicate the intention of the testator to transfer the property in favor of the named beneficiary. 

C. Make a clear mention about your intention and the reasons convincingly explained and expressed in a plain language in the registered Will. 

2.a. Yes you can follow the same procedure. 

B. It would be advisable to transfer the movable assets to her name during your lifetime itself,  but the risk is that in case she changes her face after receiving the money from you and ignores you then you may be literally pushed to begging stage because you may not be able to recover the amount already given to her out of your anxiety or any other reason. 

3.a. in the relationship column you may have to mention the relationship between the insured and the nominee,  so you decide that how are you going specify this.

B. The nominee in the insurance policy is even otherwise just a trustee to receive the policy money and to distribute it to the class I legal heirs of the deceased policy holder.

Therefore there's no point in mentioning about this in your Will. 

T Kalaiselvan
Advocate, Vellore
84925 Answers
2196 Consultations

5.0 on 5.0

1. Registration of WILL is not compulsory but only optional. The execution of WILL favouring your fiancee is enough.

2.  The WILL can be challenged by your wife or daughter or sister or father, but the contents and language used in the WILL should be legally clear so that even if the WILL is challenged by anyone, the narration in the WILL should support the Testator.

3.  The contents of the WILL should be narrated in the legally valid way so that even if it's challenged by anyone, the Court rejects the challenge and paves way for the beneficiary to claim the property.

4. Regarding transfer of SB A/c, Mutual Fund, you can name your fiancee through WILL.

5.  Executing a WILL will be a better option.

6.  For Term Insurance also, you can nominate her. Mention as close friend, if insurer questions you.

7.  You can mention insurance amount beneficiary as your fiancee by mentioning that in WILL.

Shashidhar S. Sastry
Advocate, Bangalore
5116 Answers
314 Consultations

5.0 on 5.0

Dear Client, 

1) A registered will is enough to transfer the title and ownership to her name. The registered will can not be challenged as it is about the self-acquired property and you solely possess all rights and obligations until your death. The will should contain a clear declaration, details of property and documents and details of ownership by the testator. 

2) Assets can also be transferred through the will but it is recommended to make your fiancee ur nominee so the process is easier and quicker. If a will is made, then the shares and savings will be transferred after death but however, for gift deed, the donee should give acceptance before the death and the transfer can be initiated even when you are alive. 

3) Yes, you can put her name as a nominee in your term insurance. Justification can be on the basis of trust. If you put this information in registered will then on your death, the insured amount will only go to your fiancee as she is your nominee. 

Thank you. 

Anik Miu
Advocate, Bangalore
8883 Answers
110 Consultations

4.7 on 5.0

Yes registered will is enough for the legal transfer. 

Prashant Nayak
Advocate, Mumbai
31951 Answers
179 Consultations

4.1 on 5.0

1. You can write a WILL in favour of her after mentioning that after death she will be owner of the self acquired property and none will have right to claim 

2. Yes, you can register the same 

3. Yes, they can challenge the WILL ,however if favorable clauses are in the WILL then their case will not maintainable . 

4. However for secure her , you can transfer the gift deed 

Mohammed Shahzad
Advocate, Delhi
13230 Answers
198 Consultations

5.0 on 5.0

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