How to make will online? – My friend is working professional. He has planned his wealth so well. He has a house, bank balance, investment. He is so happy. His life seems all set. He has very good career, savings & insurance. But, he is lacking in succession planning. He has not prepared his will. He passed away recently without any will. He has not placed any nomination in the investment. His family suffered a lot in absence of succession planning.
Believe me or not, making a WILL is one of the important aspects of financial planning. What will happen to your wealth after you is decided by a document called as WILL.
In absence of a will, distribution of wealth to a family can be delayed or may be improper. In India, a rule of succession is applicable in absence of a will. This means property and wealth are disturbed among lineal descendants whatsoever. So, it is better to make a WILL to ensure that your asset and properties are given to desired beneficiaries. If you have not made your WILL and planning to do so here is a complete guide for making WILL online.
Factors to consider while making a Will
You should consider following factors while making a Will.
Assets Covered Under the WILL
The first thing you need to answer is asset covered under WILL. All your movable and immovable assets including Fixed Deposits, Money in Bank Account, Securities, Real Estate, Bonds, Art, precious metals like gold, diamond, silver your websites and your Intellectual Property Rights can be covered under WILL.
Beneficiaries are person or organization that you wish to benefit from your will. Any person of any age including a minor can be beneficiary. You should decide right beneficiary for your asset before making a Will.
An executor is someone you have named in your Will as the person you would like to be responsible for handling your affairs after your death. The executor has to deal with all paperwork and legal aspects. An executor should be a trustworthy person.
Please note that it is not mandatory to use stamp paper for making a will. You can use plain A4 size paper and write a statement of will. This document must be signed by two witnesses.
Registration of Will
It is not mandatory to register will. But, looking at fraud and document tampering it is advisable to register the will. In order to register WILL you need to contact the registrar and pay nominal fees for registration.
Also Read – Top LIC Pension Plans for Retirement Planning
How to make Will Online?
There are many websites that offer the facility of making WILL online. One such website is willjini. Willjini provide services of making Express Will, Standard Will, Premium Will and Joint Will online. You can also opt for customized offline will. It is a paid website.The cost of every will is different.
- Express Will – Rs.1500
- Standard Will – Rs.4000
- Premium Will – Based on time and Efforts
- Joint Will – Rs.14000
- Customized Offline Will – Rs.10000
Express will is simple, quick and available at minimum cost. It just take 10 minutes to make express will. The will made via this method is secured, reliable and Legal as per law.
The The method for making Express Will online using willjini is given below.
Step 1: Visit the willjini website. Click on Login/Registration.
Step 2: Register by providing basic information.
Step 3: Once account created, login using your USER ID and PASSWORD.
Step 4: Create your profile and fill up basic information. Make a payment for Express Will.
Step 5: Next, fill all the questionnaire provided. This includes family details, the assets you own and distribution wishes and witness detail. Review the details provided and click on Submit.
Step 6: Click on generate button to get an email with Word document as your will.
Take a printout of the Final will document on a plain paper and Sign it in the presence of two witnesses.
Advantages of Online Will
Few advantages of Online Will are given below –
- Easy Process for creating a Will through your mode of choice
- Complete Online guidance by legal experts
- Simple & Convenient way to secure wealth distribution
- Safe and secure.
- Will creation and correction
Over to you –
Do you prefer online option for creation of will?
Have you created your will online? If yes, do share your experience.