Maharashtra simplifies will registration for ₹100, but can families afford to ignore wills?

Residents in Maharashtra can now register and safeguard their wills at any of the state’s 517 sub-registrar offices for a nominal fee of ₹100, making estate planning significantly more accessible and affordable.

According to registration department officials, wills can be registered at any time after execution and are exempt from the four-month statutory deadline applicable to many other property-related documents. Authorities said this flexibility is intended to encourage more people to document how their assets should be distributed after death formally, a report in the Times of India stated.

A will is a legal declaration that specifies how a person’s self-acquired movable or immovable assets, as well as their share in ancestral property, should be distributed among beneficiaries. Although registration of a will is not mandatory under Indian law, experts say a registered will carries stronger evidentiary value and helps reduce disputes among legal heirs.

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The department has also enabled confidential “sealed will” deposits with district registrars for ₹100. These sealed documents can be withdrawn during the individual’s lifetime upon payment of the same fee. After the person’s death, the will can be formally opened through a verification process conducted in the presence of witnesses, after which certified copies may be issued.

Officials further clarified that if a will was executed during a person’s lifetime but not registered, executors or claimants can still initiate registration after death by providing documents such as death certificates, affidavits, witness statements, and probate or court orders wherever applicable.

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Wills are becoming increasingly important

Financial experts say estate planning is becoming critical as Indian households accumulate wealth across multiple financial products and asset classes.

Adhil Shetty, CEO, BankBazaar.com, said, “A will is the most straightforward way to ensure your assets are distributed according to your wishes. Without one, succession laws determine how your estate is divided, and the outcome may not reflect your intentions or your family’s actual needs.”

“A will also allows you to appoint guardians for minor children and name an executor to manage the estate. These are practical decisions that are best made and documented in advance. Where there is no will, families sometimes find themselves in disagreement over inheritance. Resolving this through legal channels takes time and can be costly. A properly drafted will reduces the likelihood of that happening,” he added.

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Experts note that modern Indian families increasingly hold diversified assets including:

• Bank deposits
• Mutual funds
• Insurance policies
• Shares and dividends
• Real estate
• Retirement products
• International investments
• Digital and online financial assets

In the absence of a clear will, families may face delayed transfers, frozen accounts, ownership confusion, unequal distribution of wealth, and prolonged legal disputes.

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Unclaimed wealth problem

The issue is already visible at a national level. Large amounts of household wealth remain unclaimed due to poor succession planning and incomplete documentation.

According to available estimates:

Nearly ₹78,000 crore remains unclaimed in bank deposits Around ₹14,000 crore is unclaimed in insurance About ₹9,000 crore lies unclaimed in dividends Roughly ₹3,000 crore remains unclaimed in mutual funds

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Experts also warn that intergenerational wealth erosion remains severe. Several studies suggest nearly 70% of family wealth is lost by the second generation, while almost 90% disappears by the third generation due to fragmentation, disputes, and poor financial planning.

Why many Indians still avoid writing wills

Despite growing financial complexity, will-writing remains relatively uncommon in India for both cultural and emotional reasons.

One major reason is discomfort around discussing death and inheritance. In many Indian households, conversations around mortality, property division, and succession are often considered emotionally sensitive or inauspicious.

Families also fear that discussions around inheritance may trigger misunderstandings, resentment, or disputes among children and relatives.

Historically, India’s joint-family culture also reduced the emphasis on formal estate planning. Asset distribution was often handled informally by family elders, limiting the adoption of legally documented succession structures.

Procrastination is another major factor. Many individuals believe wills are only necessary for the elderly or ultra-wealthy and assume there is still enough time to address these issues later.

Experts say the emotional complexity of deciding “who gets what” also discourages people from taking action, even though the legal process itself is relatively simple.

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Estate planning

Experts increasingly stress that estate planning is not limited to high-net-worth families. Anyone with financial assets, dependents, insurance policies, property, or investments should ideally maintain:

A clear and updated will Proper nominations across financial products Organised financial records Transparent communication with family members

With India’s financial ecosystem becoming more diversified and digital, experts say relying solely on nominations may not be enough, since nominees are not always the final legal heirs. A properly drafted and registered will, they say, remains one of the most effective tools for ensuring smoother wealth transfer and reducing future legal complications for families.