Are you looking to prepare an online Will but not familiar with the process? Now preparing Will is easier, and you will find the solution here
A Will is a document that decides who will take charge of your property after your demise. Now you can draft an online will easily. It will avoid family conflict related to property, so making a Will can be the right choice. A Will ensures that the property belonging to you goes to the person of your choice. Nowadays, you can make an online Will, which can make your work easier.
A Will may be made on line in three easy steps beginning with registering your self on our e-Will platform. Then point out information of your family, properties / assets, liabilities, wishes, assets distribution wishes, and ultimately Will receives brought on line.
Online Wills can be made in three simple steps starting with registering yourself on our e-Will platform. Once you have provided details about your family, properties / assets, liabilities, wishes, and wishes for property distribution, your Will will be delivered online.
Process of Preparing Online Will
Although it may seem easy to draft a will in the first instance, the use of appropriate words may help this document be used as a piece of evidence in court when the time comes. Therefore it should be drafted carefully. The words should be written in such a way that the exact terms of the testator are conveyed through the Will. The steps to prepare an online Will have been mentioned below:
Register on Portal
The person desiring to prepare an online Will have to register on the service provider’s website. The user has to use the username and password to access the services.
To create the Will, you have to enter some details, including the testator’s name, the beneficiary’s name, details of assets, and other personal information. The points can be put in the form of a questionnaire or by filling up a form.
The parties should review all the information to ensure accuracy and errors have to be edited before submitting the same. It depends on the service provider. The user can decide whom he wants to appoint as an executor. Those details should also be included in the Will specifically and clearly.
Online or Offline Payment
After submitting the details, you have to make a payment to the service provider, and this amount will be determined by their fee schedule. There is a facility to make the payment in both online and offline mode.
First Draft and Finalisation
An experienced lawyer prepares the final draft of the Will by using the details furnished on the portal. After completing the draft, the same is sent to the user for approval. The user may suggest changes. After the support of the draft, it is sent to the user for execution.
Sign in the Presence of Witnesses
After making the online Will, the user will have to sign it in the presence of witnesses. A minimum of two witnesses are required to sign a Will.
Registration of a Will
Although Registration of will has no legal requirement, one can report it at the Sub-register office under the State Government. The registration process starts after the execution of the Will.
Points to Note
Before deciding to make an online Will, you should check the expertise and background of the service provider. It will help you find out if there are any flaws in the process. The service is limited only to certain types of Wills when you want to make an online Will. Online services do not provide the option of a Joint Will.
What To Consider Before Deciding to Make a Will?
It would help if you considered certain things before deciding to make a Will. Without considering these important points, you can never make a perfect Will.
Choose the Beneficiary
Before preparing a Will, you must decide the person who is going to receive the property. You have to mention which beneficiary will receive your property. A person having a family commonly transfers their property to the children or spouse. Other beneficiaries may also include friends, relatives, or charity. To avoid conflict amongst your loved ones when the will comes into effect, you should specifically mention the name of the beneficiaries.
Decide the Number of Assets
You must make a list of the assets that are to be included in a Will too. These assets may include:
- Property including home, vehicle, etc.
- Bank accounts
- Life insurance policies
- Family business
Types of Will
Before preparing a Will, you should decide which type of Will you would prefer. There are various types of Will. But, most people prefer a simple or last Will. If you are an owner of many assets, a living Trust is better.
Decide the Executor
The Executor will execute your Will. They will carry out your final wishes. An executor distributes the property amongst your beneficiaries. Another responsibility of an Executor may be to pay your debt. You can nominate an executor by staging their name on your Will.
Before deciding who your Executor will be, you should ask them, as it involves a big responsibility. Therefore you should be sure of whether the person you are appointing as an Executor is willing to take this responsibility or not.
Choose the Guardian
If you have a minor child under 18 years old, you should appoint a guardian for that minor. If you are the only parent of your child, you should nominate a legal guardian for your minor child.
Before deciding the guardian’s name, you must let that person know that you will nominate them as a guardian for your child. Since being a guardian involves a big responsibility, you should know about that person’s decision.
Update Your Will
If you want to implement changes to your Will, you can update it by adding or subtracting any details. Editing your Will after every five years is recommendable. You may also update your Will in case of any significant life event. These important life events may include:
- Divorce or getting married
- The arrival of new family members like children or grandchildren
- Buying new property
- Selling any existing property
- Moving to another place
- Death of any beneficiary.
Decide the Place to Store the Will
You should keep your Will in such a place that your beneficiaries can have access to it after your death. You can also keep it in a Lawyer’s office you can trust.
Inform Your Beneficiaries and Executor
After preparing the Will, you should inform the beneficiaries and Executor about where the Will has been kept. It will be helpful for them to have access to the Will easily.
By following the procedures mentioned earlier, you can prepare a Will Online. You don’t need to rely on an Attorney if you prepare an online Will and thus save a lot of money and time. Despite the limitations involved in making Wills online, the service can offer you a lot of convenience if you are looking to make a simple Will. IN case of nay queries reach out to Vakilsearch.