Many Indians spend years building wealth, but often overlook one of the most important aspects of preserving it — estate planning. According to the 1 Finance Magazine Retirement Readiness Survey 2026, many Indians are approaching retirement without adequate planning, a gap that extends beyond savings to estate planning as well. One of the most overlooked aspects of financial preparedness is writing a will, and the cost of not having one can be significant.

Legal experts warn that dying without a will can impose emotional, financial and legal costs on surviving family members. While many assume their assets will automatically pass on to their spouse or children, succession in the absence of a will is governed by personal inheritance laws, which may not necessarily reflect the deceased's wishes.

Delays that can stretch for years

One of the biggest consequences of not having a will is delay. Family members often have to go through lengthy procedures to establish ownership of bank accounts, investments, insurance proceeds and real estate.

According to Aishwarya Bedekar, Associate Partner at Solomon & Co., prolonged legal disputes frequently end up hurting the estate itself.

"In our succession practice over several years, we have consistently observed that, in the absence of a Will, contesting heirs are compelled to initiate proceedings against one another, with the consequence that the estate itself is neither preserved nor effectively utilised," she said.

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"By the time the legal process concludes, and the parties receive their shares, a considerable number of years often elapses."

During this period, wealth often remains idle instead of being put to productive use.

"Movable assets are left unmanaged, while immovable properties — such as apartments and flats — often remain locked, unused, and deteriorating for years, leading to a complete waste of valuable residential and commercial space," Bedekar added.

Why wills matter in India

The importance of estate planning is particularly pronounced in India because succession laws vary across religious communities.

"The importance of executing Wills is especially pronounced in the Indian context because succession in India is largely governed by personal law principles," Bedekar said.

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"In the absence of a Will, the distribution of an estate takes place in accordance with the succession rules applicable to the deceased's religion, and these rules differ significantly across religious communities."

"A properly drafted Will can therefore provide clarity, reduce uncertainty, and mitigate disputes that might otherwise arise under the default legal framework," she added.

A blueprint for wealth transfer

Manmeet Kaur, Partner at Karanjawala & Co., described a will as a roadmap for distributing assets.

"A will is a declaration made by a testator expressing his intention regarding the manner in which his property is to be dealt with after his/her death," she said.

"A will significantly reduces the possibility of disputes among the heirs of the deceased, as it clearly sets out the manner in which the estate is to be distributed."

Kaur noted that while "the possibility of the will being challenged cannot be ruled out," a will serves as "a guiding blueprint for the distribution of the estate of the deceased, including both tangible and intangible assets."

The document also enables the testator to appoint an executor responsible for administering the estate and implementing the deceased's wishes.

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"In the absence of a will, the distribution of the assets of the deceased is effectuated in accordance with the applicable laws of succession under the personal law governing the deceased," Kaur said.

The NRI challenge

The absence of a will can become even more problematic when heirs are spread across countries.

"We have also witnessed an entire generation of Indian families whose members have migrated abroad and established their lives overseas," Bedekar said.

"In many such cases, the heirs are not even fully aware of the nature or extent of the assets left behind by their parents in India."

She noted that identifying and verifying those assets often becomes the most time-consuming part of the process.

"A substantial amount of time and effort is then spent coordinating with non-resident heirs and piecing together the estate profile."

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"A clear, legally valid Will can significantly streamline this process, reduce administrative burdens, and protect the value of family wealth for future generations," Bedekar said.

Experts say the true cost of not having a will is measured not just in money, but in delays, disputes and uncertainty for families already coping with loss.

Published on: Jun 18, 2026 10:15 AM IST