Thanks to low fees and convenience, e-will writing is gaining traction with second such offering coming in from a joint venture between NSDL e-Governance 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 Mumbai-based Warmond Trustees & Executors, a part of the leading law firm SNG Partners, to offer digital will-writing services.
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 told PTI.
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.
Das said the company will offer customise services to all for Rs 4,000 per will, excluding the registration cost.
The cost of making a will through the traditional route will cost anywhere between Rs 25,000 and Rs 1,00,000, 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 Rs 4,000 per will, which is only a fraction of the prevailing market cost of around Rs 25,000 or more.
"This is the first of its kind in the country and this service enables individuals to easily draw up a tenable will online with help from a legal firm," HDFC Securities managing director Aseem Dhru had said. It has tied up Legal Jini to offer the service.