Having credible witnesses to wills is important

Most people associate succession planning with the rich.

Who, according to you, needs a succession plan?

Anyone who has a family and some wealth must plan his succession. It is for all levels of the society, such as farmers, businessmen, industrialists and even salaried employees.

Succession laws are different for all religions. Which laws would apply in case of an intercaste marriage?

In case of inter-caste marriage, the religion by which the couple got married and the religion of the testator are important. His estate will be devolved among the legal heirs as per his religion. Instead of going by personal laws, we go by the succession Act.

What are the complications that could arise despite having a succession plan in place?

Complications arise when the legal heirs--mother, siblings or children--are not happy and contest the will. They may say that the will was influenced, the person was not in a sound state of mind and not aware of what he was doing, the signatures are fake, the property willed by him was not built by him but inherited from ancestors and he had no right to further will it out. There are many such cases pending.

Then, there are issues of corruption and small courts being influenced by local people.

List some common mistakes you have come across.

A common mistake is unacceptable witnesses. Often people depend on the local lawyer, agent or tout. At times, the agents of these touts sign as witnesses and when the witnesses have to be examined by the court, they vanish, ask for money or get easily influenced by the other party. So it's critical that while making a will, you bring credible witnesses. For instance, we had a case where one witness signed in the presence of the testator and the will was then sent to the house of the other witness for his signature. Our law requires that both the witnesses must sign in the presence of the testator at the same time.
So, the case was dropped.

Another common mistake is not having nominations in place. A simple nomination can save a lot of hassles as the beneficiaries don't have to go to the court to take a succession certificate. The bank can act on nominations itself. One can support nomination with a will that says whether the nominee is going to be a beneficiary or not, and to what extent.

What's the legal cost?

If you don't have a nomination, then most of the banks and agencies holding assets will insist on a probate or a succession certificate, which means six to eight months of court process, payment of stamp duties and court fees, court notices or publication and papers, and the fees of engaging a lawyer. The cost would depend on the kind of lawyer you would engage.
But I have noticed that 7-10% of the estate is eroded (in disputes). Most of it can be saved if you plan well. In terms of time, if there is a contest, it can go on for years.

Any word of caution?

Having two credible witnesses is important. To avoid disputes, one could take precautions such as registering the will or videographing it.
Also if the person is very old or infirm, he may also go for medical certification before the will is executed so that all possible loopholes are plugged. This way, if the will is challenged there are enough proofs to show that it was done in a bona fide manner.