Create an e-WILL online at HDFC Securities

Create an e-WILL online at HDFC Securities

How to create an e-WILL online at HDFC Securities?

One of the important aspect of financial planning is writing a WILL in favor of your family member. While the manual WILL process is time consuming, recently HDFC Securities have introduced a new feature called the e-WILL where you can generate WILL online by entering your details. While online trading has made investing easy, e-WILL service makes WILL services easy and simpler.

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What is WILL and is WILL necessary document?

A will is a legal document that sets forth your wishes regarding the distribution of your property and the care of any minor children.

Wills come in several varieties, including the following:

1.) Self-Proving/Testamentary Will:

A self-proving will, also know as testamentary will, is the traditional type of will with which most people are familiar. It is a formally prepared document that is signed in the presence of witnesses.

2.) Holographic Will:

Holographic wills are written without the presence of witnesses. They rarely hold up in court.

3.) Oral Will:

Oral wills are spoken testaments given before witnesses. They are not widely recognized from a legal perspective.

4.) Living Will:

A living will has nothing to do with the distribution of assets, but rather sets forth your wishes for medical care in terms of life support should you be incapacitated.

To maximize the likelihood that your wishes are carried out, you want a will that is set forth in writing, and signed by you and your witnesses. If your will does not meet these standards, your instructions may not be carried out.

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How to create an e-WILL online at HDFC Securities?

Step by step process of creating online e-will is enclosed below:

• Visit HDFCsec.com website.
• Click on value added services on the right hand side
• Visit e-will section. You can directly click this link to go to e-WILL section.
• Give full name, mobile number, email ID, City and Submit
• Pay Rs 4,000 + taxes online through net banking or credit card or debit card
• Update gender, religion, occupation, residential status and assets you own.
• Fill personal details about your family
• Fill full assets details
• Provide details on how to distribute assets after your death.
• You can fill information up to 60 days from making the payment to HDFC Securities.
• Email is generated with the your legal WILL in word document.
• Sign the document in front of witnesses.
• If you wish to register the WILL, you can visit the registration office along with witness and register the document.
• However, registration of WILL is not mandatory as of now.

Is it secure?

Apart from HDFC Securities, NSDL e-Governance also offers such service as joint venture with Warmond trustees and Services. Both such ventures have a track record of handling large scale sensitive data and assure confidentiality.

Should you consider creating online e-WILL facility of HDFC Securities?

Not necessary. You can visit any attorney / advocate and create a WILL for the properties which you own. However, you can maintain complete privacy in the creation of the WILL if you are doing with e-WILL.
Conclusion: New products / features keep coming. HDFC Securities e-WILL facility is one such new feature. While I have not used it personally, I felt this was one good feature introduced by HDFC Sec. You need not visit any attorney / advocate for creating it. This is simple and WILL can be done at low cost.

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