The end of our life is something none of us can ever foresee. Deciding what will happen to our property and personal possessions after our death is very important for looking out for our family. Writing a Will is the simplest way to ensure that our financial assets will be distributed as per our wishes.
In today’s technology driven world, almost every financial decision can be made online. You can shop, save, insure and even invest in financial instruments online. Keeping up with the times, it is now also possible to make your will on the internet. Very few among us have a will and those who do have, have done so by the conventional method – by hiring a lawyer. The concept of an Online Will or e-Will has emerged in the market today and is just one click away.
Benefits of E-WILL
Saves Time
A traditional Will consumes a lot of time to draft physically and you need to have a face to face conversation with the lawyer. The process could take anywhere between days to weeks depending on the lawyer’s availability and convenience. In the case of an e-Will however, it would take a maximum of 15-30 minutes to draft and finish.
Flexible
e-Will can be modified any number of times at your convenience. You can login and make the necessary modifications in the document and finalize it. Modifications to a traditional will cannot be achieved with the same ease.
Cost- Effective
e-Will can be completed faster and at a fraction of a cost compared to traditional Will where one would have to pay a large sum of money to a lawyer for his services. This would cost anywhere between Rs.20,000-45,000.
Convenient
You can submit your e-Will at your convenience. You can write a will in your leisure time and submit it online. Given that it would be protected by an encryption code, your e-will is secure and the data is completely confidential.
No Intermediary Needed
An electronic-Will does not require an intermediary. You get to decide the allocation of your assets among your family members in the manner you wish without the interference of another party. It helps you put all your asset information in a systematic manner.
Conclusion:
Creating wealth for our family and securing the future is one half of Financial Planning. Deciding what happens to your life’s earnings after you are gone is the other half. Writing a will and ensuring the smooth passage of your assets to your loved ones is also an important and often neglected part of financial planning.
Make Your E-Will today and protect your family!
