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Making a WILL is one of the important aspects of personal finance. 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.
How to make Will Online?
There are many websites that offer the facility of making WILL online. One such website is Eezeewill. It is a paid website. The method for making will online using Eezeewill is given below.
Step 1: Visit the Eezeewill website
Step 2: Click “Create a WILL” option and register your details to create a new account.
Step 3: Once account created, login using your USER ID and PASSWORD.
Step 4: Next, fill all the questionnaire provided.
Step 5: Review the details provided and click on Submit, or click edit details.
Step 6: Finally, make payment using Online / Offline options.
Once the payment is done, a panel of lawyers will prepare a draft WILL and send to you for your review and acceptance.
After your acceptance, this will be executed and version of soft copy and a hard copy will be delivered to you. You need to register this WILL.
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