Want to create a will? You can create it online as well - Here’s how

Creating a will online: If you are planning to create a will, many online platforms offer easy-to-use tools and resources, allowing you to draft and finalise a will without leaving your home. Here's how to make an online will.

1. Choose a reputable platformBegin 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 with the platformTo register, enter your personal information like your full name, date of birth, address, and contact details. Then create a secure username and password to access the online service.

3. List your assetsNext, make a list of all your assets. Include property, investments, bank accounts, insurance policies, and any valuable items you own.

4. Name your beneficiariesDecide 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 can't inherit. Then, choose an executor, the person who will carry out your will.

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5. Draft your willUse 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 finaliseYou can review the drafted will to ensure it's accurate and make changes if needed. If you have complicated issues, it's best to get legal advice. Once you're satisfied, you can legally execute the will according to the platform's rules, usually by electronically signing it 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 from Centre for Investment Education and Learning content which appeared in Economic Times

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