There are certain rules when it comes to inheritance. Writing a will is the best thing to guarantee the rights of specific people over the property and nominating them to be the inheritors.
Around 1925 the Indian Succession Act was announced. It aimed to bring all the Indian Laws pertaining to succession under one section. There is no retrospective operation. This law is applicable to the intestate and the testamentary succession. This is to clearly mention the rule and role of inheritance whether there is a written will or not.
What is intestate succession?
When a person dies without writing any will the intestate is capable of coming in effect. The property and assets of the deceased person devolves upon the surviving spouse and later on to the relatives of the deceased person. There is a manner in which the law of inheritance comes in effect in the absence of will.
A) When the deceased has left no will for the whole of his property.
B) When the deceased has left a will for the whole of his property and has appointed an executor but the will contains no provisions when it comes to distribution of the property.
When it comes to application of the rule, the inheritors will resort to the legal means to gain their access over the property and other assets in the absence of the will.
How writing a will helps?
When you write a will, you clearly mention all the property and assets that belong to you lawfully and rightfully. You will have to take some time out and monitor if there are pending debts or loans that have to be cleared out. Then you will nominate people whom you find suitable to own your property and relevant assets after you have passed away.
Appointing an executor is not mandatory but it certainly helps. This is especially helpful in the times when you are no more and have outstanding loans and debts to take care of. The role of the executor is to take care of all the debts and settle the amount. With whatever is remaining, the property and assets get divided as per your will among the inheritors. This way the right to inheritance is reserved rightfully.
In the absence of the will, the rights of inheritance are severely challenged and it can be easily exploited especially in the matters of ancestral property. Hence, it is best to avoid the issues before they rise by writing a will.