Estate Readiness Checklist

Have you drafted and signed a Will?

(s.63 Indian Succession Act 1925)

Is the Will witnessed by two independent witnesses?

Has the Will been updated after any major life event (marriage, child, property purchase) in the last 5 years?

If you hold immovable property in Mumbai, Kolkata, or Chennai — have you noted the probate requirement?

Does your immediate family know where the original Will is stored?

Are nominees named on all bank accounts?

Are nominees named on all demat accounts and mutual fund folios?

Are nominees named on all insurance policies?

Are nominees named on EPF and PPF accounts?

Do your nominees know they are named and what their role is?

(nominee ≠ heir — a temporary custodian under the relevant Act)

Does your family have access to liquid funds covering at least 6 months of expenses, independent of probate?

Does your family have a complete list of all accounts, policies, and investments?

Is there a trusted person (CA, lawyer, or family member) who can act on your estate within 30 days of death?

Do you have a password manager or a sealed envelope with access credentials for digital accounts?

Have you made a nomination on your Aadhaar-linked bank account?

If you are a partner in a firm — does the partnership deed have a succession clause?

If you hold shares in a private company — do the Articles of Association address transmission of shares to legal heirs?

(Companies Act 2013, s.56)

Is key-man insurance in place if your business depends on you?

If you have co-founders or business partners — is there a buy-sell agreement?

Has a business valuation been done in the last 3 years?