Preparing a will online? Understand the process and its pitfalls

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Despite its importance, writing a will is often delayed due to common misconceptions and fears surrounding it. A will is not just a legal document, but a vital tool to ensure your wishes are honoured and your loved ones are safeguarded after you time. Traditional methods of preparing a will can be costly and time-consuming, and online platforms have made creating a valid and enforceable will easier.

Who should opt for an online will?

The method of creating a will depends on individual circumstances and preferences. Tech-savvy individuals may find online will-writing services convenient and cost-effective, allowing them to complete the process from home without consulting a lawyer.

In India, online wills are available to most individuals, except Muslims, who require customised services because of the need for expertise in Sharia law.

Charges for online wills

The cost can vary depending on the service provider and the complexity of the will. Some platforms offer a basic will for a fixed fee, while others may charge depending on the number of assets or beneficiaries involved.

Broadly, you can expect to pay anywhere from Rs 2,000 to Rs 10,000, or more, for an online will. Some platforms charge the following fees for online will drafting and registration:

WillJini: Rs 5,500 onwards.

Vakilsearch: Rs 4,499 onwards.

Bear in mind that the fees may not include additional costs, such as stamp duty, or other expenses.

Also read | Why Young Indians need wills

When should you write a will?

A will should ideally be prepared when you get married, have children, acquire assets, start a business, or experience a significant life change. Additionally, if you have dependents, own property, or have specific wishes for your estate, having a will in place is crucial. Updating your will periodically is important to reflect changing circumstances, and to ensure your wishes are respected.

Execution is essential

Contrary to popular belief, an online will cannot be fully executed on the internet. According to the Indian Succession Act, 1925, a will must be signed by the testator in the presence of at least two witnesses, who must also attest the signature. After finalising the draft online, the testator must physically sign the will and have it witnessed to ensure its validity under Indian law.

Also read | Estate planning: Why you must talk legacy with loved ones

Review the  will  regularly

After creating an online will, you must revisit the platform every three-five years to update the same and make amendments, if required.

Pros and cons of an online will

Some pros and cons of an online will are as follows:

Pros

Simplicity and convenience: an online service can be used to create a basic will by those having no familiarity with the law, as the client only needs to answer some questions.

Affordable and transparent pricing: such services typically have a fixed, upfront fee based on the chosen options, eliminating the uncertainty and hourly charges often associated with traditional legal counsel.

Quick turnaround: online will preparation services typically offer fast and efficient processing and adhere to strict timelines to ensure that your will is ready for execution.

Accountability and integrity: these services serve as a neutral third-party, accurately capturing your instructions and minimising the risk of errors, fraud, or unethical practices.

Also read | Can a trust structure to manage real estate assets help mitigate family disputes?

Cons

Limited human oversight: such services often rely on automated processes, eliminating the need for direct interaction with lawyers. As a result, the final output is generated based solely on the information provided by the client.

Limited flexibility: these services often use standardised templates, which can restrict the ability to incorporate complex personal  or unique wishes into the will.

Potential for unseen errors: without a lawyer's review, online will preparation services may not catch accidental errors, omissions, or inconsistencies that could impact the validity or effectiveness of the will.

Not suitable for all: these do not cater to individuals with complex or unique circumstances, such as high net worth individuals, Muslims requiring Sharia-compliant wills, or those with complicated family situations, who may require customised and specialised drafting.

Suitable for simple situations: online wills are best suited for individuals with straightforward family situations, simple succession plans, and uncomplicated wealth distribution goals. They may not accommodate complex or customised requirements.

Online vs customised wills

Online wills offer a convenient, cost-effective way to specify beneficiaries and executors. However, for complex estates involving assets like family business shareholdings, operational rights, or multiple beneficiaries for different assets, please consult a lawyer and prepare a will tailored to your needs.