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What are the latest methods of making a will?

IndianMoney.com Research Team | Updated On Saturday, May 05,2018, 05:21 PM

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What are the latest methods of making a will?

 

 

Online will

You can draft a document over the internet using readymade templates called an online will. You can then download it , print it, sign it, have it witnessed by atleast 2 witnesses and then store it in a safe place. A number of Indian portals offer these services. You can then upload a scanned copy of the will and store it on the portal.

How to make an online will?

  • Log on ta website which provides a will making service. Register yourself and use your email id and password tlogin tyour account.
  • The will making service guides you on how tmake a will through a questionnaire.
  • Make a list of your assets such as a house, a car or land and an apartment.
  • Pick your heir: Your son and daughter may be your heir.
  • Have the will printed or mailed tyou. Select twwitnesses in whose presence you sign the will. The witnesses need tsign on each page of the will.
  • You need tappoint an executor (person whsees that the assets are distributed as per your wish).
  • Make copies of the will and store it in a safe place. Give the executor a copy of the will.

Video shooting of the will

Banks offer high end services such as the videshoot of the entire writing of the will and store it digitally in a safe manner. This is offered mainly tHNI’s for a fee. This process is managed by the banks wealth division in a hassle free manner making sure that your beneficiary (heirs) get your wealth.

  • The will is prepared before the videshoot.
  • The signing of the will by the testator (one whmakes the will) and the twwitnesses is recorded on camera/viderecorded.
  • Once the process is completed it becomes difficult tquestion the genuineness of the will.
  • The legality of the will needs tbe proved in a court of law called a probate. After the will has been videotaped it is easy tget a probate. The probate (This is a copy of the will certified by the court) can be given only tthe executor of the will.

Who can make an oral will?

Oral wills called “privileged wills” are made by soldiers, airmen and the navy officers whare on the war front.

What is a digital will?

A digital will allows you tpass your online property (social networking accounts or an email account) tyour heirs (Children).
If you have a digital legacy and want ttransfer it tyour heirs a digital will is necessary. If you have a digital will the online/email service provider will hand over all your passwords and other account details tyour heir. The digital will can alsbe added ta standard will.

 

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IndianMoney.com Research Team

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