Skip to content

NISM Certifications · NISM-Series-X-B: Investment Adviser (Level 2) · Tools for Estate Planning

Under the Indian Succession framework as commonly taught for estate planning, which statement best describes a codicil to a will?

A codicil is a supplementary document that adds to, alters or explains an existing will. It must be executed with the same formalities as the will, namely the testator's signature and attestation by witnesses. It is not a lifetime transfer deed or a court appointment of an administrator.

  1. AA document that adds to, alters or explains an existing will and must be executed with the same formalities as a willCorrect
  2. BA document that permanently cancels all nominations made in the client's insurance policies
  3. CA court order appointing an administrator when no will exists
  4. DA registered deed that transfers property immediately during the lifetime of the owner

Explanation

A codicil is a supplementary instrument that modifies, adds to or clarifies an existing will, and it needs the same execution formalities (testator signature and attesting witnesses). It does not cancel nominations, appoint administrators or transfer property during life, so the other options describe different instruments.

Did you get it right without looking?

One question tells you little. A timed set on Tools for Estate Planning shows your real accuracy, how long you take and where you lose marks.

Practise Tools for Estate PlanningFree diagnostic mock

More Tools for Estate Planning questions