Can a Person making a Will and the Executor of the Will be same and One if no then is it necessary to mention the name of the Executor in the WILL, Secondly I will also like to know that if a person has a Joint savings account and a Nominee updated in the account therefore can the Nominee be only the beneficiary of that account after the First Holder in the WILL or can the account holder also mention the name of the second holder in that savings account as the beneficiary in the WILL ?
1 Answers
Hi,
Executor is the person who will implement/execute your Will. So, both of them can not be the same, as WILL gets executed by the executor after the demise of the WILL writer.
Nominee on Bank accounts is just a care-taker. He/she has to receive the asset/money from the concerned bank or financial institution and transfer/distribute that to Legal owners.
Whereas, WILL supersedes all laws, rules and regulations. WILL overrides the nomination in case its different.
Kindly read :
https://www.relakhs.com/nominee-legal-heir-will-importance/
https://www.relakhs.com/write-will-sample-will-india-draft-will/
https://www.relakhs.com/now-draft-will-online-e-will/
https://www.relakhs.com/last-will-testament-benefits/
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