Estate Planning and Probate: Key Insights on Wills and Executors
What is Probate and Why is it Necessary?
Probate is a legal process required to validate a will, ensuring the wishes of the deceased are honored. In India, particularly under Hindu law, probate is essential for establishing the rights of the executor or legatees. This process is mandated when the will is executed or when immovable property lies within the jurisdiction of high courts, such as Mumbai.
Understanding High Court Jurisdiction
For families navigating the probate process, it is vital to recognize the high court's jurisdiction. If the will was executed in Mumbai or pertains to property in Mumbai, probate is mandatory. Even if assets exist outside this jurisdiction, like real estate in Nashik, the issued probate covers those locations as well.
- Executor's Role: The executor of the will must file the probate petition with the Bombay High Court.
- Documentation: Required documents include the original will, a detailed asset schedule, and affidavits from at least one attesting witness.
- Legal Fees: Court fees apply based on the estate value.
Engaging Legal Advisors
It is advisable for executors to seek assistance from a legal advisor who specializes in probate matters, ensuring compliance with all legal requirements and smooth processing of the application.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.