Making a will online usually costs between ₹10,000 and ₹15,000. These rates typically vary among service providers. Apart from this, you will not need to pay additional charges to register the will.
How to Prepare and Create a Will Online?
What Is an Online Will Maker?
What Are the Benefits of Preparing a Will Online?
Why prepare a will online? There are countless benefits that you can reap by doing so. Some of these include:
- Ensuring the Safety of Loved Ones: Preparing a will allows you to distribute your property fairly among your heirs. You can be legally assured that your family members receive wealth as you wish in your absence. Also, there will be no dispute among them regarding your asset distribution.
- The convenience of Drafting: Locating the chamber of an attorney and visiting them can sometimes become complex. Also, you might have to make more than one visit which can become tiring. For this reason, you can complete the process online by providing all the information required to draft a will.
- Time-Saving Process: Visiting the attorney's office in person can be time-consuming. You might require to take substantial time from your busy schedule, which can sometimes become challenging. On the contrary, the online process can be done at any hour from the comfort of your house.
Is Making a Will Online Legal?
What Are the Things to Consider When Preparing a Will Online?
There are some crucial things that you should keep in mind while framing a will online. These include:
- Enter the Asset Information Accurately: You must input error-free details of your assets. Also, ensure that you have the necessary documents supporting the ownership of those assets.
- Determine the Division of Assets Wisely: Dividing your property among the heirs can be a challenging task. So, it would be prudent to decide on the property distribution first and accordingly frame the will to avoid making changes later.
- Enter the Name of Recipients Correctly: Another thing of utter importance is accurately entering the names of the recipients of your will. Otherwise, there can be confusion during asset distribution in your absence.
Step-by-Step Process on How to Prepare a Will Online
Step 1: Registering on the Online Portal
First, you must visit your service provider's official website and register yourself. For this, you will have to enter some basic information like name and contact details. Once done, you will receive a username and password to access your service portal.
Step 2: Filling Out Important DetailsNext, enter vital details like information about your assets, personal facts, and legatees. Ensure that you enter accurate details so that there are complications in future. For this, review the form after filling it out. Also, select the person you want to appoint as the executor of your will.
Step 3: Completing the Necessary PaymentsAfter drafting your will, make the necessary payments to your service provider. You can quickly check the amount you must pay from the pricing section available on the service provider's official website. You have the flexibility of completing the process both online and offline.
Step 4: Finalising the First Draft of WillAfter completing the process from your end, a panel of attorneys will frame the first draft of the will. Once done, they will forward the document to you so you can review it and suggest any modifications if needed. You will receive a sample of this document as soon as the authorisation is done.
Step 5: Signing the Will in Front of the Witnesses
Once you receive these legal papers, it becomes imperative that you go through them one final time. After that, you must sign it before at least two witnesses. This ensures the authenticity of the will. Also, get it signed by two witnesses mentioned in the document.
Life is uncertain, and so is death. Therefore, making a will is equally important as purchasing life insurance. So, once you get a comprehensive idea about how to make will online, you can complete the process as soon as possible. This will ensure that you can lead a worry-free life and that your loved ones will not face legal complexities after your demise.
FAQs About Preparing a Will Online
No, it is an optional step you can skip in case you do not have time for it. However, if you want to increase the credibility of this document, you can register it in the local sub-registrar's office.
Any of your friends or colleagues younger than you can become witnesses to your online will, in whose presence you will need to sign the document. However, you should note that any of your nominees cannot be a witness to this will.
You will need a few minutes to an hour to prepare this document online. Thus, it ensures you do not have to take out much time from your busy schedule. You only need to enter some crucial information and upload a few documents to complete the process.
You must verify their expertise and authenticity before hiring them. Also, you should ensure that they do not share your confidential information with a third party. You should also check their charges and if it is justifiable as per their services.
Important Guides related to Life Insurance
- This is an informative article provided on 'as is' basis for awareness purpose only and not intended as a professional advice. The content of the article is derived from various open sources across the Internet. Digit Life Insurance is not promoting or recommending any aspect in the article or its correctness. Please verify the information and your requirement before taking any decisions.
- All the figures reflected in the article are for illustrative purposes. The premium for Coverage that one buys depends on various factors including customer requirements, eligibility, age, demography, insurance provider, product, coverage amount, term and other factors
- Tax Benefits, if applicable depend on the Tax Regime opted by the individual and the applicable tax provision. Please consult your Tax consultant before making any decision.