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The availability of user-friendly tools and resources on various web platforms has made drafting a will simpler.
Online will often cost between Rs 2,000 and Rs 10,000 or more.
Writing a will is often put aside despite its significance because of widespread misunderstandings and anxieties about it. A will is an essential tool to guarantee that your wishes are respected and your loved ones are protected after your passing, in addition to being a legal document.
Online platforms have simplified the process of establishing a legitimate and enforceable will, as traditional methods can be expensive and time-consuming.
When is the right time to draft a will?
Ideally, you should have a will ready when you get married, have kids, purchase property, launch a business, or go through a big life transition. Additionally, having a will in place is essential if you own property, have dependents, or have particular preferences for your estate.
To ensure your desires are honoured and to reflect evolving circumstances, it’s critical to update your will on a regular basis.
Every three to five years after making an online will, you must return to the platform to update it and make any necessary changes.
Online Will: Who Should Opt For It
The process of drafting a will varies according to personal tastes and circumstances. Online will-writing services can be affordable and practical for tech-savvy people, enabling them to finish the process from home without seeking legal advice.
Most people in India can create their wills online, except for Muslims, who need specialised services due to the requirement for knowledge of Sharia law.
Online Will: Charges For It
The complexity of the will and the service provider can have an impact on the price. A simple will is available on some platforms for a set price, while others may charge more or less according on the number of beneficiaries or assets.
In general, the cost of an online will can range from Rs 2,000 to Rs 10,000 or more. The following fees are levied by certain sites for online will drafting and registration:
Vakilsearch: Rs 4,499 onwards.
WillJini: Rs 5,500 onwards.
It should be noted that the fees might not cover other charges or other costs like stamp duty.
Online Will: Benefits and Drawbacks
Advantages
– Convenience and simplicity:
Those who are unfamiliar with the law might utilise an internet service to draft a basic will because it only requires a few questions from the client.
– Reasonably priced and clear pricing:
These services usually eliminate the uncertainty and hourly fees frequently associated with traditional legal assistance by charging a predetermined, upfront price based on the options selected.
– Fast turnaround:
To guarantee that your will is prepared for execution, online will preparation firms usually provide quick and effective processing and follow stringent deadlines.
– Integrity and accountability:
By precisely recording your instructions and lowering the possibility of mistakes, fraud, or unethical behaviour, these services act as an impartial third party.
Drawbacks
– Minimal human supervision:
These services often use automated procedures that do away with the requirement for face-to-face communication with attorneys. Consequently, only the information supplied by the customer is used to generate the final output.
– Limited adaptability:
These businesses often employ standardised templates, which may limit the capacity to include intricate or distinctive particular desires in the will.
-Possible hidden mistakes:
Without a lawyer’s review, online will preparation services could miss unintentional mistakes, omissions, or inconsistencies that could affect the will’s efficacy or validity.
-Unsuitable for everyone:
These do not serve people with particular or complex needs, such as very wealthy people, Muslims who need wills that comply with Sharia law, or people with complex family dynamics who would need expert and bespoke drafting.
-Ideal for simple circumstances:
Online will work best for those with basic succession plans, easy family situations, and plain wealth distribution objectives. They might not be able to meet intricate or unique needs.
-Customised vs. online wills:
Online will provide a practical and economical means of designating executors and beneficiaries. However, please get legal advice and have a will prepared specifically for you if you have a complex estate including assets such as operational rights, family business shareholdings, or several beneficiaries for various assets.
Tags: Online will, Business news, Online will pros
Keywords: Preparing A Will Online, Online will, Business news, Online will pros, Online will corns, Writing a will, Sharia law
