A few years ago, a friend of mine lost his father unexpectedly. While the emotional shock was still settling, he found himself spending month after month visiting courts, lawyers and banks, not for property worth crores, but simply to get a succession certificate so he could access his father’s fixed deposits, close a bank account, and get his home, where he spent his childhood, transferred in his mother’s name. What could have been done in a few weeks, had there been a WILL, is now lingering from the past 2 years.
By the time he would finally get the succession certificate, he had spent a few lacs to obtain it, and the stress and running around.
All of this… because there was no Will. A simple document that can save your family years of pain and a lot of Money.
And his struggle is not an isolated one.
Without a Will, your family enters a maze
To access major financial assets, your family would need a succession certificate.
Timelines for a succession certificate:
● Ideally, but rarely happens, something or other crops up: 6-12 months
● It can typically take if you do a routine follow-up of 12-24 months
● Often: 3 years+ in complex and contested cases. It gets frustrating.
Cost of Succession Certificate:
● Generally, 2%–5% of asset value.
● Can go up to 6%–8% depending on jurisdiction. Money and time your family should never have to spend.
Even simple things turn complicated
Car transfer:
RTO may demand: Legal Heir certificate, NOCs from all heirs, or even a succession certificate.
Bank lockers:
· No Will + No Nomination: The bank will require you to provide a legal-heir certificate or succession certificate, which involves multiple visits and exhaustive verification procedures. Navigating these formalities is painstaking.
· The assets you built for happiness and safety become sources of stress.
And harder still… they (your dependents) may not know all your assets
Multiple accounts, old FDs, forgotten policies, ESOPs, mutual fund folios without a Will or documentation—many assets remain undiscovered or unclaimed. Create a mechanism so that your loved ones are aware of your Assets and possessions. Give them a periodic update.
Making a Will is SIMPLE
● Write your details.
● List your assets in broad categories.
● Clearly mention who gets what.
● Sign it.
● Two witnesses are needed.
For extra protection: Do get it registered. A registered Will is stronger, clearer, and harder to dispute.
WILL you NOT protect the people you love?
We spend decades creating wealth. The least we can do is ensure it reaches our loved ones smoothly, without courts, certificates, or conflicts.
Writing a Will takes just a couple of hours, but it saves your family months or years of struggle.
