How to create a legally valid 'WILL' Online?

[@NRIMoneyClinic]

Time stamp Introduction 00:00 Robust Will Requirement 2:45 Yellow App Demo 4:57 Will registration process 23:40 Expert consultation 24:45 Will is for everyone 26:45 Data Security 30:30 Why online Will? 34:18 Special offer 37:50 Conclusion 40:18

[@bharatpopat9835]

This episode was good, but one thing is missing in it. Muslims under their law have several restrictions in making a will. You may have one more episode to cover this. I am a Chartered accountant practising for the last 39 years on consultancy, drafting and litigation side and am based in Ahmedabad

[@dronefilmsgermany]

Sir I need some help my mother is in India and I am oci card holder as I have renounced my Indian citizenship. In this case as my mother has an Indian passport can she make a will and register it in sub registrar office ?

[@tubemember1575]

Thank you Mr. Chandrakanth for providing quality content on your platform and also Mr. Nikhil for sharing such valuable information

[@vicsuc3636]

Thank you Dr Chandrakant and Mr Nikhil. Everytime we update the asset list should it be signed again by the 2 witnesses and also by the same ones who signed originally?

[@nikhilvarg]

Every update needs to be signed by the Author and minimum 2 witness. However, the 2 witness need not be the same person.

[@rj9980]

Why we give our personal details & money to his co. which has no legal status?

[@anilprasanna]

WILL is so so important. I am dealing with death of my wifes cousin who came to my house as a guest and unfortunately passed away with a sudden cardiac arrest when taking a shower. I am trying to recover his assets in USA and pass it on to his wife in India. Since he did not have beneficiary in bank/trading accounts, I am running from pillar to post in probate court. Attorneys send crazy bills and charge even to reply to emails. Their charges run into more than 5 thousand dollars just to unlock bank account of the deceased. He was just 33 years and looked totally healthy. Life is very unpredictable. Please do not procrastinate writing a WILL

[@nikhilvarg]

Absolutely agree with you. This is one important task to help protect your family's interest but everyone ignores and pushes the same to the back burner presuming everything is under control. Life is uncertain, it is only prudent to be prepared for the worst and you can now check this box by just setting aside 10 minutes from your schedule at the comfort of your home.

[@npratapvet]

Very informative and useful. Thanks

[@shankarthiagarajan7427]

Very useful information we'll presented. Thanks. Do even persons with single child and all assets on joint basis or nominations in place a Will is still required?

[@nikhilvarg]

Yes, as per Indian laws, a nominee is only a trustee, i.e. a nominee only holds assets on behalf of the beneficiary. Following the demise, the nominee does not become the rightful owner. Instead, a nominee will only act as the trustee of the assets until the legal heir(s) is/are established as per the Will or as per the applicable Succession Laws in the absence of a Will. For a Hindu male, the succession laws provides equal distribution of assets to mother, spouse and child and this overrides the nomination if there is no Will.

[@shankarthiagarajan7427]

@@nikhilvarg Thanks a lot. You have updated my long belief. 😍👍

[@vicsuc3636]

@Nikhil Varghese Does the final WILL generated by your app gets reviewed by your team for any mistakes before sending it thru the email?

[@nikhilvarg]

We have developed the tech stack that clearly captures your wishes without the need for anyone to review the same - a system generated email hits your mailbox without human intervention. This even helps us from ensuring data privacy of any confidential data as well. Having said that, if you have any issues with the drafts received, you can always connect with our in house lawyers/ customer support for specific help.

[@vicsuc3636]

Thank you Mr Nikhil. 1. Also can the same app be used for foreign assets to generate WILL that can be used abroad or can be used to cover Indian assets only? 2. Is the Executor age 18 or 21? In some countries Executor age is 21.

[@nikhilvarg]

@@vicsuc3636 Our solution is focused for India assets only. Recommend appointing an executor who is above 18 years

[@natarajanravi6973]

A letter of Administration instead of a probate can be obtained from a high court . The family of the diseased who are the beneficiary can approach the court , when no executor is appointed in the will.

[@puttilal]

Should a US based NRI who has assets in US- both movable and immovable as well as movable assets in India create a WILL in the US?

[@subramanianvenkatasubban7017]

In the case of assets being in joint names of husband and wife, is it necessary to create 2 different wills or can be combined into one will?

[@dronaacharya]

Your interest/share in joint property have to be seperately captured in a Will. While you can create a joint Will it always recommended and advantageous to create separate Wills to capture wishes for your share in the joint property.

[@rakeshanand-b6j]

Pls share the link for e will creation

[@aksket2000]

Great information.

[@bharatpopat9835]

A couple of other issues (in addition to my earlier comment) to be considered are that it is always better to get will registered under section 18 of the Registration Act, 1908 (in Guharat, it just costs Rs.500). The will can be so registered even after the demise of the writer of the will. Further, probate in case of will is required only in Maharashtra, West Bengal and Tamilnadu (if the deceased was residing in any of these states or if he had some properties there) and nowhere else. The law is clear and there is a direct judgment of Supreme Court on this as well.

[@rameshramakrishnan8042]

Does it require a re-registration every time a change/modification is made to the will

[@dronaacharya]

Registration is an option and not mandatory. If immoveable assets are involved in the Will it is recommended to register the Will iincluding changes made to the Will

[@maharshimehta9246]

Will this will accepted legally in USA? And if there are immovable properties and liquid assets in India and USA both, will this will be accepted legal in both countries?

[@nittinkeni7183]

Is it necessary to register the will especially for property assets.?

[@madhavlele7892]

Very good informative video. However, from my personal experience, alongwith 2 witnesses the will has to be attested by a medical practitioner that the will maker is in position to understand contents of the will. If docter's attestation is not there on the will, then immovable property transfer to beneficiary will get into problem. Nikhil sir, can you confirm on this?

[@maniannarasimhan]

Could you kindly help and advise drafting & registering will in Dubai ( UAE) please

[@divyakukrejasachdeva9214]

Will the Yellow Team check the will for any potential mistakes from a legal or technical standpoint, before simply emailing it to the client?

[@nikhilvarg]

We have developed the tech stack that clearly captures your wishes without the need for anyone to review the same - a system generated email hits your mailbox without human intervention. This even helps us from ensuring data privacy of any confidential data as well. Having said that, if you have any issues with the drafts received, you can always connect with our in house lawyers/ customer support for specific help.

[@guruusha]

How will I draft a will for a property bought in a joint names. Self and spouse

[@dronaacharya]

Please connect with our team and we can guide you.

[@maniannarasimhan]

Could you kindly help and advise drafing and registering the will in Dubai ( UAE ) please 🙏

[@nikhilvarg]

If its in relation to India assets do connect with our team

[@kaushikpandya7746]

Tax issues in case of large assets needs to be addressed. Additional information. e.g. how much cash can be held at home. How much gold. Married woman can have 500 grams gold., Unmarried daughter 250 gram per daughter. 100 gram gold for each male. In view of the change of circumstances according to Supreme Court of U.K your will is not your will any more. This will be applicable to in India as well if not now but in some test case. A rich British lady gave all her assets in animal charity without giving a single penny to her own daughter for personal reasons . May be a daughter is not getting well with mother. A daughter was dependent upon govt benefits. She took up the matter at the highest level Supreme Court of U.K. Supreme court cancelled the will by providing substantial very big 7 figures amount to the daughter on background that GOVT must not bear the cost of looking after daughter with a large assets to animal charity. Such isshe can arise in future in India as well. A will needs to be signed by the will MAKER with two witness at the same time without leaving the room for any reasons to avoid any challenge in future.

[@jaggi64]

Where are we suppose to keep this will document ? Are we suppose to distribute to beneficiaries , witness or just keep in the locker

[@anilprasanna]

Sir. please DO NOT keep it in bank locker. Because if you die, bank will not let your wife open bank locker without a WILL. And then courts, banks and lawyers will mentally and financially harass your wife even more when she is already in shock hearing about her beloved husbands death.

[@nikhilvarg]

Completely agree with Mr. Anil Prasanna, Will can be safetly stored at home or at a place that is easy accessible. However, please inform your family/ executor about the its location. You could also consider leaving a copy or the original with your executor or trusted family/ friend as well.. but never in a banker locker.

[@jaggi64]

@@nikhilvarg ok , that clarifies the matter.

[@sudhirsh04]

I am out side India. If I ask any two friends to sign as witness then will they be required physically at the time of execution of will ? if yes then one should choose 2 witnesses carefully who can be available. Is that correct? please advise.

[@nikhilvarg]

You are right.. The choice of witness should be someone who can standup for the family if called upon by courts. Do note that role of Witness comes into play only if the Will is challenged or the Will is required to be proved before the court. In normal circumstances, where there is no challenge or need to prove the Will before the courts, the witness have no role in actual execution of Will (i.e. with the actual asset transfer process).

[@tutortutor3279]

(1) Can a person execute multiple will, For example, Separate will for Movable assets, Immovable assets & Financial Assets with either same or different beneficiaries (2) What is role of executor? Is it mandatory? If executor is not mentioned a will is valid? (3) Pls. provide the relevant section & act details which does not mandator registration of will? (4) whether the printout has to be taken on stamp paper or even on A4 sheet is enough? (5) If the beneficiary as per the will is different from a nominee as per bank records for a financial asset who will be the final beneficiary?

[@nareshkumarbhatt]

You cannot make seperate wills. Executor is not mandatory but advisable. Will registration is not compulsory but strongly recommended to get it registered as it will be very easy to transmit assets to the beneficiaries as per the will. Preferably stamp paper as the life of a stamp paper is much more than a4 paper and will look more authentic. Final beneficiary will be name on will. Nominated person will get max 1 lakh only.

[@nikhilvarg]

Point 1 - Not recommended Point 2 - An Executor is a person who is nominated by the Testator to carry out the instructions as per the Will. An Executor should be above 18 years of age. Your Executor can be any trusted person like a family friend, spouse, children, lawyer, CA or any professional, who can be relied upon to execute your Will. You should always seek the consent of the person you nominate as your Executor to avoid the potential of him/her declining the responsibility of acting as an Executor after your demise. If no executor is nominated family will have to approach courts for executor appointment and therefore, advisable to nominate an executor Point 3 - Section 18 in The Registration Act, 1908 Point 4 - No format prescribed and will can be executed on simple A4 paper. Point 5 - As per Indian laws, a nominee is only a trustee, i.e. a nominee only holds assets on behalf of the beneficiary. Following the demise, the nominee does not become the rightful owner. Instead, a nominee will only act as the trustee of the assets until the legal heir(s) is/are established as per the Will or as per the applicable Succession Laws in the absence of a Will.

[@justinjoseph225]

Can we include abroad assets/accounts or investment done outside India into will..is this valid?

[@nikhilvarg]

While you can have one Will for global assets, assets situated in foreign countries are governed by local laws in those countries and the procedure to enforce a Will in such countries could be different from that of India. Therefore, it is advisable to prepare separate Wills for each jurisdiction to avoid any delay or hassles in the transfer of assets to the beneficiaries.

[@Dev-ev9mz]

Thank you Dr Chandrakant and Mr. Nikhil. 1. Should the addresses of the beneficiary NRI children be given in the Will. 2. Should the address of the beneficiary NRI children in the Will be that of their parents in India ( as NRI children stay with parents while in India) or that of address outside of India, so that the subsequent transfer of fixed assets such as residential apartment and residential plot in India to NRI children and transfer of funds such as MFs and Bank accounts to NRI children outside India are smooth and tax efficient in India and USA afterwards. 3. What would be the tax implications on inheritance.

[@nikhilvarg]

1. Recommended but not mandatory 2. Better to capture the address as per their KYC documents 3. Currently, there are no tax implication in Indian on inheritance. However, implication in US needs to be evaluated basis you residential/ domicile status. Please reach out to team for more information in this regard.

[@Myassets440]

Can a witness be a close and best friend in the WILL

[@australianrabari]

Is the content audience strictly NRIs? I.e. if I am an Australian citizen, do I need separately registered wills for India and Australia for property in relevant countries? In other words, shall an Australian Will be accepted by Indian authorities for Indian properties or vice versa?

[@nikhilvarg]

While you can have one Will for global assets, assets situated in foreign countries are governed by local laws in those countries and the procedure to enforce a Will in such countries could be different from that of India. Therefore, it is advisable to prepare separate Wills for each jurisdiction to avoid any delay or hassles in the transfer of assets to the beneficiaries.

[@pmruiz611]

I'm a Filipino not indian, can i avail of this online will. Is this a universal format?

[@yenvee9922]

Please provide a video on Lasting Power of Attorney.

[@sanjeevathani5581]

Is it necessary to register a will?

[@nikhilvarg]

No, registration of your Will is not mandatory as per Indian laws. A Will signed by two witnesses is a legal and valid Will. If there are immoveable assets listed in the Will, it is recommended to get the Will registered as it further smoothens the process at ground level.

[@drsuraksha]

Confidentiality, how it is mentained

[@dronaacharya]

Confidentiality is of utmost importance for us. We have explained in detail the security protocol followed - you can navigate easily in timestamp "Data Security"

[@rk2119]

Is this valid for Indians to create a will in India online

[@nikhilvarg]

Absolutely. As long as the Will is physically signed along with 2 witnesses it is legally valid

[@jyotishenai2001]

When you call a guest for the talk let the guest talk more than you.please

[@NRIMoneyClinic]

Thank you very much for the feedback