Discover the convenience of online wills versus traditional methods. Understand the legal validity of online wills in India, and learn about the creation process, costs, and vital factors to consider. Get answers to FAQs regarding online wills, so that you to make informed choices for your estate planning.
An Introduction to Online Will
A will is a legal document that expresses your preferences in the tragic incident that you die. Picking the correct sort of paperwork influences whether your loved ones (family) must go through an inheritance court in order to settle your property, among other things. Most adults must establish a will since it decides who receives their assets. When an individual wants to distribute their wealth to their loved ones after their demise, they create a legal document known as a Will.
But let us face the truth: making a will is not at the top of many people’s priorities. This explains why most Indians do not own one. It may be unpleasant to challenge our mortality, and it is effortless to avoid it.
Drafting a will guarantees that your possessions and investments are easily transferred to your rightful heirs. In the midst of COVID-19, when life is so unpredictable, it’s prudent to have it prepared as soon as possible and to make the process even easier, you may now jot your online will or E-Will.
In this informative article, we will take a look at some of the online will makers that ease the process of drafting a will, ensuring peace of mind for you. But first, let us tell you what an online will maker is and its benefits. Continue reading to learn more.
Online Will Maker: What Is It?
You may write, sign, and print your final will using an online will maker. It’s a more cost-efficient option to establish a will agreement rather than pay a visit to a legal expert or an advocate. Most will-makers (online) guide you through many questions before populating the relevant fields.
When you establish a will, it is always a good idea to check and update it if you have a significant life event like marriage, divorce, a new company entity, a substantial purchase (new home), or a birth, so that you may make adjustments or construct a whole new will. Robust online creators will enable you to make modifications for a set length of time.
Is It Legal?
The simple answer to this question is ‘YES’. These (online wills) are legal as long as they follow state and federal rules. Companies that sell their products online use qualified lawyers and legal specialists to write their estate planning papers to be legally binding properly.
Remember that not every online video creator is made equal. Despite the fact that some of these firms offer goods that are compliant with your state’s rules, you should ensure that your final document has the exact weight as one created by a lawyer.
In India, for instance, you must verify that whoever drafts the will should duly sign it in the presence of a minimum of two witnesses. You should review the online will firm’s fine print to ensure that it is legal in your state and that you understand what you have to do in order to make your paperwork legal.
A Step-by-Step Guide to Creating an Online Will
Here, we have outlined a small guide to help you better understand when you create your online will. Continue reading to learn more.
Portal Registration
To begin, you must register on the online service provider’s official website or mobile application. You will be given a username along with a password in order to access the services provided.
Entering Details
In order to prepare the conditional will format, you should provide information about your assets, personal facts, and legatees. You can request this information via a questionnaire or by completing an application on the site. After entering the information, you may check and amend it before final submission. In this section, you must specify who you wish to nominate as your will’s executor.
Payment Options: Online or Offline
As soon as the information has been provided, you must make the payment to your online service provider under their pricing scheme. Depending on the brand’s requirements, it can be done quickly offline or online.
Finalisation of the First Draft
A panel of attorneys creates a first draught (Will) based on your information. The document is forwarded to you for evaluation and approval. You can make modifications to the draft. As soon as the draught is authorised, your concurrent will be delivered to you.
Duly Signed in Front of Two Witnesses
After you receive the final document, you need to duly sign it in front of a minimum of two witnesses.
Registration will
Even though it’s not required, it’s preferable to register your will with the Sub-Registrar since it adds to the document’s credibility.
Essential Things to Consider While Preparing an Online Will
When creating an online will using the template given, you must be highly cautious since any inconsistency may occur because there’s no human contact involved.
You should check the following things with utmost attention:
- Asset information is appropriately documented.
- holding pattern
- The names of the recipients
Another issue that the online will-making platform must handle is data as well as the confidentiality of your type-ins.
Online Will Benefits
There are various advantages to creating an online will that you might be unaware of. Some of the reasons why you must create an online will are as follows:
- Convenience: Writing your online mutual wills from the convenience of your house is more soothing than paying a visit to a lawyer’s chambers. You aren’t restricted by the schedule of an attorney and can do it anytime you find yourself free. If you forget an essential paper at the lawyer’s chamber, you will need to go back, costing you additional time and money. Drafting online will allow you to fill in any holes and gather all the vital documents.
- People avoid seeing an attorney since it’s time-consuming and complex, but you might be able to create your online will in just minutes if you have a small estate. It’ll make it possible for you to receive services from any location at any time. Professional online providers like Vakilsearch will make your work understandable by using easy-to-understand language. Also, Vakilsearch gives legal guidance via customer service.
- Safeguard Your Loved Ones: This is another significant advantage of using an online will service to create your will. Drafting your online will on reputable platforms like Vakilsearch guarantees that it fulfils legal criteria and is maintained to date with any modifications in the law, averting any allegations regarding the invalidity of your will. It’ll help safeguard the document better.
Online Wills vs. Other Types of Will Creation:
In the realm of will creation, the emergence of online wills has introduced a convenient alternative to traditional methods. While conventional will-making involves physical documents and legal professionals, online platforms offer user-friendly templates that streamline the process. This subheading examines the distinctions between online wills and other conventional means of creating wills, weighing their pros and cons in terms of accessibility, legality, and ease of use.
| Aspect | Online Wills | Other Types of Will Creation |
| Accessibility | Easily accessible on various platforms. | Typically involve visiting legal experts. |
| Convenience | User-friendly templates for swift drafting. | Requires appointments and more time. |
| Cost | Generally cost-effective or free options. | Legal fees and notary charges may apply. |
| Legal Validity | Valid if executed according to legal norms. | Legally binding when signed and witnessed. |
| Customisation | Limited flexibility due to templates. | Offers more tailored and detailed options. |
| Expert Guidance | Limited legal guidance on platforms. | Legal professionals provide expertise. |
| Witnessing and Notarisation | Often require arranging witness signatures. | Witnesses and notaries ensure legality. |
| Document Storage | Digital storage on platforms or cloud. | Physical storage in safe or legal office. |
What You Need to Know Before Making an Online Will:
Prior to crafting an online will, understanding key considerations is vital.
Key Considerations for Crafting an Online Will:
Clarity in Intentions:
Clearly express your wishes for asset distribution, beneficiaries, and any specific conditions.
Significance of Witnesses:
Ensure your online will is legally valid by having witnesses sign the document, even for online versions.
Document Updates:
Regularly review and update your online will to reflect changes in assets, beneficiaries, or personal circumstances.
Asset Distribution:
Strategically plan how your assets will be divided among beneficiaries, taking into account their needs and circumstances.
Executor Selection:
Choose a responsible and trustworthy executor who will carry out your wishes and manage the estate efficiently.
Potential Challenges:
Anticipate potential disputes or challenges among beneficiaries and address them in your online will.
Legal Formalities:
Adhere to legal requirements for online wills, such as proper execution, witnessing, and signature protocols.
Digital Security:
Ensure the security of your online will by using reputable platforms with strong encryption and data protection measures.
Emergency Access:
Provide a trusted individual with access details to your online will to ensure its availability during emergencies.
Professional Consultation:
If complex assets or family situations exist, seek legal advice to navigate intricacies and ensure a comprehensive online will.
Conclusion
It’s critical to review the online will service provider’s background in terms of their experience, competence, and services. Most online will service providers allow you to create a joint will. Will costs often allow one or sometimes two draught revisions? Any additional alterations will incur additional costs.
FAQs on Online Wills:
How Do You Write an Online Will?
Composing an online will involves selecting a trusted platform, following provided templates, and ensuring clarity in expressing wishes.
Is an Online Will Legal in India?
Yes, online wills are legally valid in India if executed as per legal requirements, including proper signatures and witnesses.
Who Keeps the Original Copy of a Will?
The testator (will-maker) should retain the original copy, while informing a trusted individual or executor about its location.
What Is the Cost of Registering a Will in India?
Registering a will incurs a nominal fee, which varies based on the value of the assets mentioned in the will.
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