Will Custodianship


Will Custodianship refers to a service acquired by a testator, where he/she is not sure of safe-keeping of their signed will due to various reasons. They are as follows:

  • When the testator wants to keep the will confidential;
  • If the family is unable to trace the will after the demise of the testator;
  • Manipulation by certain family members after the death of the testator.

A custodian refers to a person or an institution that holds customers’ securities or legal documents to prevent them from being stolen or misplaced. The custodian can hold securities and other legal documents in both physical and electronic form.  

Services of a Custodian

Services offered by most custodians are like account administration, tax support, keeping original will, etc. A separate contract is made between the custodian and the individual/ corporate firm to make it legal.

Benefits of Custodianship

  • Safe-keeping of will,
  • No chance of ALTERATION until you wish so
  • Minimal Chances of disputes between family
  • Life security 
  • Old age protection
  • Safe handover of assets and business
  • Helps in smooth execution of will.

How do we ensure the perpetual custody of the will?

We shall ensure that the will of the client is safe and secure till the time it is required to execute. We have a tie-up with a trust which may guard your will from all kinds of threats. The trust consists of a group of directors and shall ensure that the will is their custody even when the directors are no more. A copy of the record is given and maintained by the trust books.

Conclusion

We at ELT Consultants provide one the most exclusive services of “will custodianship” to our customers, and make sure the will is disclosed at the right time or as per the testator’s instructions. ELT Consultants provide the best will custodianship lawyers near you.

FAQs

Will Custodianship is a safe option to go for as it may help the testator keep the will safe from being stolen or any other kind of damage.   

We are well equipped with all the resources which shall keep your will safe from any kind of till the time the testator wishes to keep. We shall provide a separate vehicle which may keep the will document safe from any kind of damage. This vehicle shall work till the end of the time and may provide service even if any particular person is there or no.

The testator needs to legally transfer the custody of the will to the other person by way of a contract. Both parties need to sign a contract and agree to the terms and conditions as mentioned in the contract.

The fee for the above-mentioned service depends on the remaining life of the testator, quantum of wealth, and other services availed by the testator from us.

Both the parties sign a contract wherein the testator authorizes the other party to keep the Will in its custody for a specific period of time. Therefore, as per Indian Contracts Act it is a valid contract and custodianship of will is legal.

It depends upon the testator. The time span of the custody will be as per the wishes of the testator.

It is as per the wishes of the testator, it could either be the executor or anyone else.  

We offer a list of service and they are as as follows:

  • Will Creation
  • Will Custodianship
  • Appointment of Executor
  • Probation of Will 
  • Legal Heir Certificate
  • Succession Certificate

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