Forget hard copy, eWills gain traction
NSDL is offering eWills at one- fifth the cost of traditional wills
Mumbai, Aug. 31: Thanks to low fees and convenience, e- will writing is gaining traction with second such offering coming in from a joint venture between NSDL eGovernance Infrastructure and Warmond Trustees within a month of the launch of first such service by HDFC Securities.
NSDL e- Governance Infrastructure, formerly National Securities Depository Ltd ( NSDL) has tied up with Mumbaibased Warmond Trustees & Executors, a part of the leading law firm SNG Partners, to offer digital will- writing services.
The companies signed the joint venture over the weekend and launched an online platform called EzeeWill to offer the service.
Through this, people can login on to the portal and provide the required information in prescribed format, which will accessed by the Warmond expert team one can get digitised will on email or in a hard copy, Warmond managing director Gokul Das said. However, both he did not disclose the terms of the JV.
While NSDL E- Gov is the large depositories like tax information network ( TIN), Warmond Trustees & Executors is into succession planning and estate management services since 2006.
Mr Das said the company will offer customise services to all for ` 4,000 per will, excluding the registration cost. The cost of making a will through the traditional route will cost anywhere between ` 25,000 and ` 1,00,000, Mr Das said, adding “this initiative makes available a proposition at one- fifth the cost even at a lower- end”.
HDFC Securities had on July 14 launched the country’s first e- will services, offering the service for just ` 4,000 per will, which is only a fraction of the prevailing market cost of around ` 25,000 or more.