I am a 41 year old.
My elder son is 14 - from my first marriage. Divorce, legal custody is with me
Younger son is 3.5- from current marriage.
My assets are in the form of shared ownership of a flat with my husband, bank FDs, mutual funds, ULIP(in name of elder son), EPF and PPF.
In almost all investments I have put the name of my mother as nominee. Reason is that after my death the legal guardian of my elder son will be his father. Who is not in the same town and least interested in him.
I want to write a will and keep it in my locker. Can I write will on a plain paper?
If I die I would like everything to go to my elder son because I am his only guardian. For younger one my husband can make sufficient arrangements.
Please guide me how I can write a will that will work today and after 4 years when he will be major. It should be least hassle for him and my parents to take care of and he should get the money keeping in mind his age and future.
How should I choose the words to satisfy my requirements?
We suggest you check some more information on Wills from our resources page. Here is the link http://lrc.moneylife.in/feature/lrc-resources/ Here under the handy reference to Wills & Nominations, you will get all the basic information about Wills. If required, you can also take help from a local lawyer, who practices in this field.
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