Pranam ( I found it from 2 decades old blog in my files; for some who would
like to know about will )
WILL Features
Golden age of technology, people are no longer settling for a simple
penning of wills. Instead, they are increasingly opting for more
stylish options, such as video-recorded and online wills. Have a physical
copy of the will. “This is because India does not have a central agency
that recognises digitised signatures,” explains Rajesh Gupta, partner
at SN Gupta &, a leading law firm.
Video-recorded will
In this case, the signing of the will by the testator and the two
witnesses is recorded on a video camera. The will has to be prepared
before the cameras start rolling; a mere recitation of the document's
contents is not accepted.
“When the execution process-where the will is duly signed by the trio
involved-is recorded, it becomes difficult to question the
genuineness of a will. So, getting a probate is comparatively easy,”
says Richa Karpe, co-founder and ED, Altamount Capital. She adds,
“Generally, the person who has been left out in the will challenges it
on the grounds that it wasn't executed properly. If the process is
recorded on camera, this problem won't arise.”
A probate is a copy of the will that is certified by a court and can be
granted only to the executor appointed by the will. This is
mandatory in case there is no will or if there is a problem with the
existing one. However, given that a will becomes inviolate after it
is probated (that is, nobody can file a law suit against it on
the grounds that the testator was of unsound mind), the process is highly
recommended by experts in any case.
Incidentally, Video-recorded wills are also accepted by the
Indian courts. In October 2009, while deciding a 1985 case seeking the
grant of a will, the Delhi High Court had ruled that video recording of
a will is a legally admissible evidence.
Succession planning firms typically charge around `5,000 to
record the execution of a will. As wills do not require the presence of
a lawyer, you can choose to record the process for free on your
personal camcorder, but then you'll lose out on a key advantage of
using professional firms, namely, safe custody of both your will
and the video.
Online will
Several web portals and companies now allow you to make your will
online. “The making of online wills is picking up as many people
do not have the time to sit with a lawyer and discuss the will in
detail,” says Nerlekar. Warmond Trustees & Executors, for instance,
has introduced the InstaWILL service, where a customer gives
instructions online and receives a customized will on e-mail
within a week.
To make an online will, you'll have to register on the website of
the company. The portal will give you access to an application,
which will help you draft the will. All you need to do is answer the
questions and leave the drafting to them. An online will would cost
you around Rs 10,000. Many websites abroad, such as the UK-based
Q-Will and US-based legacywriter.com, also offer templates from
which you can choose the one that suits your needs, while others offer
a one-size-fits-all standard template. However, in India, this
service has just picked up, so there are not many options in the
market.
Once you fill in the relevant details, the service provider will
e-mail a draft of your will, which you need to print and sign.
You'll subsequently have to get it attested by two witnesses. Some portals
like warmond.co.in allow you to store a copy of the will on the Net and
make changes without registering afresh. On the other hand, some
portals simply allow you to upload and store a scanned copy of
the will. This online option works best for someone who is very
clear of how he wants to distribute his assets and does not require any
guidance. Don't forget that you will still need to keep a physical copy of
the will with you.
Digital will
Don't confuse this with the online will. A digital will isn't a
process or an alternative to supplement the plain vanilla paper
will. It is a special type of will that allow you to pass on your online
‘properties', such as your social networking account or an e-mail
account. “Just as you make a will for your financial assets, you
can make one for your online accounts too,” says Nerlekar. This is
becoming increasingly important because our accounts contain a lot
of private information about us as well as that of our friends and
families and, hence, pose a significant threat if hacked.
Most e-mail service providers and social networking companies
have death policies that determine what will happen to your
account on your death. For instance, Yahoo and Flickr permanently
delete all your accounts and their contents on receiving a copy of your
death certificate. What if you want to preserve your digital legacy?
This is where a digital will comes in. “If you leave a digital will,
the e-mail service provider will hand over your account details to
the person named in the will,” says Nerlekar.
Though any law firm can help you make a digital will, you don't
necessarily need a lawyer for this process. You can also integrate
your digital legacy with a standard will. However, take into account the
death policy of your social networking site while drafting the will.
WHAT EVERY WILL SHOULD HAVE
No matter how you make your will, keep these things in mind:
1. Clearly mention the people to whom you wish to pass on your
wealth. Don't use nicknames or incomplete names.
2. If the property is quantifiable, such as cash, mention it
clearly.
3. Where it cannot be quantified, give a clear description of the
property.
4. The attesting witness or his spouse should not benefit from
the will in any way.
5. Appoint an executor for your will. He is a person who will see
that your directions are carried out in the manner stated in your will.
6. Though it's not mandatory, have a probate for your will. It
establishes the legal capacity of the person writing it
KR IRS 6222
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