Draft Your Electroninc WILL-Veelunama Online
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WILL-Veelunama is a written declaration of a person in presence of two witnesses about his/her wishes effective after death for all matters including distributing his/her properties, assets, wealth to family, relatives, outsiders, charities etc.
Reasons why you need a WILL-Veelunama
Smooth transfer of assets :
Without a WILL, distribution of your wealth & assets to family can be delayed and it may also be stressful for family.
Take control of your assets:
You will decide the allocation ratio of your wealth among the family members in the manner you want. If you don’t write a WILL, everything you own will be allocated in a standard way as defined by succession laws – which may not be in sync with your preference.
Avoid legal tangles :
You will maintain peace and harmony at home even after your lifetime. The systematic bequeathal of wealth will leave no scope for misunderstanding, dispute or legal tangles.
Protect your family :
It is especially important if you have children or other family who depend on you financially
Simple steps and write a e-WILL or Veelunama online
Brief Registration for e-WILL
Pay online Rs. 4000/- (excluding taxes) by net banking, credit card, debit card OR pay offline
Select your Gender, Religion, Occupation, Residential status and Assets you own
Fill in personal details about your family
Fill in details of all your assets
Provide details of – how you wish to bequeath / distribute your assets after you leave your family
Fill all details till 60 days of payment and click Generate
Get email with your legal WILL in word document & Tips for ‘how to sign WILL’ immediately on payment
Simple – your WILL is ready to sign & witness
Presently there are two e-will writing services in india:
1. NSDL e-Governance Infrastructure with Mumbai-based Warmond Trustees and Executors
for more info —> www.ezeewill.com
2. HDFC Securities with Legal Jini
for more info —> www.hdfcsec.com
FAQ on e-WILL or Veelunama
What is the benefit of preparing the WILL-Veelunama?
By making a WILL a person can ensure that all his assets and properties are distributed and disposed of as per his wishes after his death without disputes/legal hassles within family. Also ,if you wish to give more share to some of your relatives/heirs and want to ensure that a certain person should not get any of your assets and properties, then WILL is the only & effective document to ensure it. For example – one wishes to donate organs, give flat to wife, give more/less to a particular son/daughter, give some amount to parents or also care taker/friend etc. such wishes are covered in a WILL which is binding to all – family, relatives, all laws, all courts including Supreme Court of India.
What will happen if I don’t make a WILL-Veelunama?
When a person dies without a WILL (called as “intestate” in legal language), all properties, assets, wealth of that person is distributed as per Succession Laws applicable to him like Hindu Succession Act, etc. One should know that such succession laws have fixed proportions to distribute properties to all/many family members which may not be as per wishes of person who is no more. There could be chances of delay in distribution of properties and many a times could lead to legal cases, fights between mother-son, between brothers, between siblings, etc.
Who can make a WILL-Veelunama?
Any person above age of 18 years with sound mind i.e capable of understanding his actions and is free from any improper influences can make a WILL.
What all assets can be covered under the WILL-Veelunama?
All movable as well as immovable assets including Real Estate, Fixed Deposits, Money in Bank Account(s) Securities, Bonds, proceedings of Insurance Policies, Retirement benefits, Art, precious metals (Gold, Silver etc.), Brands, Goodwill, digital assets (photographs, sketches, blogs, websites, email accounts such as gmail, yahoo etc. and with social websites such as Facebook, Twitter etc.) and Intellectual Property Rights etc. including what they are and the method and manner of their storage, can be covered under the Will. In short, any assets that the Testator has in his ownership, at the time of his death can be included and distributed as per the desire of the person.
Is it mandatory to register the Will? What is the stamp duty payable on Registration of the WILL-Veelunama?
Registration of a Will is not mandatory. However, it is advisable to register the Will at the Sub Registrar office to add to its authenticity.
There is no stamp duty payable on Registration of the Will. However, applicable registration charges have to be paid, in addition to any legal services fees for registration of the Will document.
How to make a WILL-Veelunama?
Will can be handwritten or typed, however typed Will is preferred. Stamp paper is not required hence it can be on plain paper. Will should be in any language which is suitable to the person who has made the Will. Will should at least cover minimum details of your family, your properties / assets, your liabilities, your wishes, your bequeaths (property distribution wishes), names of two witnesses, date and place of signing, sign of the person who has made the Will and the witnesses on each page.
Is e-WILL-Veelunama Online secure?
The e-will writing process is just as secure as our online trading transactions, The information given by clients will be completely secure and encrypted in databases. The information submitted by the clients will be deleted immediately once the will is delivered to the client.
How much does Electronic WILL-Veelunama Online costs?
e-will services have been launched to promote the concept of making a will online, one can always opt for the traditional way.
An e-will will cost you around Rs 4,000. Additional reviews are done at a nominal fee— Rs 250 per review. “Subsequent modifications will be at a discount of 40 per cent from the original pricing,” says Das. If you want a hard copy delivered at your place, NDSL will charge you an additional Rs 500. However, as of now, the delivery of the hard copy is restricted to a few cities.