Creating an online will: If you're planning to create a will, many online platforms offer easy-to-use tools and resources, allowing you to draft and finalize a will without leaving home. See how to make one will online.
1. Choose a reliable platform
Start by choosing a reliable online service. Look for a platform that has a simple interface, comprehensive templates, and secure storage for your documents.
2. Register on the platform
To register, enter your personal information such as full name, date of birth, address and contact details. Then create a secure username and password to access the online service.
3. List your assets
Next, make a list of all your assets. Include properties, investments, bank accounts, insurance policies and any valuable items you own.
4. Name your beneficiaries
Decide who will inherit your assets by choosing your beneficiaries. You can assign specific items to each beneficiary and select backup beneficiaries in case your first choices cannot be inherited. Then choose an executor, the person who will carry out your will.
READ ALSO | What is a gift deed? Some simple points for easy understanding
5. Draft your will
Use one of the customizable templates available on the platform. Follow the instructions to fill in the details, specifying how you want your assets distributed and including any special conditions or terms.
6. Review and finalize
You can review the draft will to ensure it is correct and make changes if necessary. If you have complicated issues, it's best to get legal advice. Once you are satisfied, you can legally execute the will according to the platform's rules, usually by signing it electronically with witnesses. The completed will is then stored securely online, with encryption for added security.
Points to keep in mind
1. Choose a reliable platform
Start by choosing a reliable online service. Look for a platform that has a simple interface, comprehensive templates, and secure storage for your documents.
2. Register on the platform
To register, enter your personal information such as full name, date of birth, address and contact details. Then create a secure username and password to access the online service.
3. List your assets
Next, make a list of all your assets. Include properties, investments, bank accounts, insurance policies and any valuable items you own.
4. Name your beneficiaries
Decide who will inherit your assets by choosing your beneficiaries. You can assign specific items to each beneficiary and select backup beneficiaries in case your first choices cannot be inherited. Then choose an executor, the person who will carry out your will.
READ ALSO | What is a gift deed? Some simple points for easy understanding
5. Draft your will
Use one of the customizable templates available on the platform. Follow the instructions to fill in the details, specifying how you want your assets distributed and including any special conditions or terms.
6. Review and finalize
You can review the draft will to ensure it is correct and make changes if necessary. If you have complicated issues, it's best to get legal advice. Once you are satisfied, you can legally execute the will according to the platform's rules, usually by signing it electronically with witnesses. The completed will is then stored securely online, with encryption for added security.
Points to keep in mind
- Update your will regularly: You can keep your will up to date by regularly updating it on the platform to reflect any changes in your life or financial situation.
- Communicate with family: It's also important to store your will safely and let your family know where to find it when needed.
With inputs Investment Education and Learning Center content that appeared in the Economic Times
