When you talk about drafting a will, the first thought that comes to anyone is, well, death. Traditionally, we have only heard of people drafting a will when they think death is near, and that too if the person has several properties and a lot of money to leave behind.
But that concept is now changing with people drafting their wills at a much younger age, even if they own just a property or an insurance policy.
Still there is the problem of expense â€“ of getting a lawyer to draft it for you. Making a will could cost you anywhere from Rs 7,000 to a few lakh rupees. Many are also often under a misconception that having a nominee would mean that they donâ€™t have to draft a will.
Recognising this problem, legal service providers are now bringing this offering online, at a fraction of the price charged by lawyers.
In October, Chennai-based online legal services startup Vakil Search launched its offering Right Will, which lets you draft a will online without any hassles.
â€śEvery fourth person who dies today, dies without a will. And this has the potential to cause several complications within the family, which drags on for years in Indian courts. The idea is to simplify the process and make it affordable so that people can draft wills sitting at home,â€ť says Aashish Krishna Kumar, Product Evangelist and Channel Tie-ups (Partnerships & Affiliations) at Vakil Search.
Currently available online on Amazon, Right Will comes with four documents â€“ a guide to drafting a will, a pre-filled sample of a will, your attorney drafted will and a feedback form. All this for as less as Rs 399. For those who still have questions, the company can be contacted over email to resolve all queries.
Since its launch, Right Will has seen 500 orders and Aashish says that the response has been extremely positive. And the fact that people write to Vakil Search thanking them for the product is a testimony that there is a need for such a product, he adds.
Aashish says that while there have been requests to create similar offerings for power of attorney and rent agreements, the focus for Vakil Search is on Right Will. Going forward, Vakil Search is working on introducing Right Will in Tamil, Hindi and other Indian languages. It is also looking to tie up with several other portals to sell this offering.
Vakil Search is not the only one to offer the product online. LegalDesk.com launched an offering that lets you draft a will online. There is also Willjini and EzeeWill, which have offerings where one can draft a will online, over phone or have someone come to their doorstep for assistance.
However, Vakil Searchâ€™s USP is its extremely affordable pricing. While Right Will costs Rs 399, LegalDesk charges users Rs 4,999, and WillJini has different offerings ranging from Rs 1,500 to Rs 20,000. EzeeWill charges Rs 4,000 to draft the will online, Rs 25,000 for will writing services over phone or email, Rs 40,000 to draft it at their office and Rs 60,000 to send a person home to help draft it.