In a rapidly advancing digital era, ensuring the security and protection of our loved ones has become more critical than ever before. Among the various aspects of securing our family's future, the importance of a legally sound and comprehensive Will cannot be overstated.
Despite its significance and broad application, the number of people who create their own Will in India remains remarkably low. This hesitance seems to stem in large part from the perceived complexities associated with the process, including the need for legal expertise. There's a clear need for accessible solutions that simplify and streamline this process for people from all walks of life. In this article, we'll delve into Yellow, an innovative online Will making platform in India that offers a user-friendly solution for creating a Will. As India's leading online Will-making solution, Yellow offers a simple, accessible, and reliable means for individuals to craft their Wills and create a customised estate plan conveniently from the comfort of their homes.
Understanding The Need For A Legal Will
When it comes to our lives, only one thing is certain: change is inevitable. As we navigate life's twists and turns, planning for the unexpected is a cornerstone of responsible living. Central to this proactive approach is the creation of a Will – a document that is much more than just legalities; it's a gesture of care, consideration, and foresight for those we cherish.
A Will serves as a roadmap for the distribution of assets, properties, and belongings after our time, ensuring that our intentions are honoured and our loved ones provided for. It's not merely a document for the wealthy or the elderly; rather, it's a crucial instrument for anyone who wishes to safeguard their family's future.
Furthermore, contrary to common belief, a Will is not solely about the distribution of wealth. It's a blueprint for passing down family treasures, managing business and personal finance matters, and caring for loved ones. It's a means to prevent potential disputes and ensure a smoother transition during an already emotional and challenging time.
In essence, a Will provides peace of mind knowing that the ones we leave behind will be supported, guided, and protected.
The Emergence Of Online Wills And What The Law Has to Say in India
According to Indian law, in order for a Will to be considered legally binding it must be executed properly. This means that the Will-maker or Testator must physically sign the Will document in the presence of at least two Witnesses, who must also sign the document to validate it.
Despite these limitations, Yellow simplifies the Will-making process by offering user-friendly templates and expert guidance, ensuring the creation of a legally valid Will. Additionally, Yellow ensures that the document is in compliance with legal prerequisites, making it easier for users to prepare the draft before signing it physically to create a legal document.
Online Will-Making with Yellow: Striking A Balance Between The Traditional Route And A DIY Approach
The landscape of estate planning in India has seen a remarkable shift with the emergence of online Will-making platforms, and Yellow stands out as a clear leader in the field. From in-house lawyers offering professional guidance, to a dedicated customer service team, Yellow's comprehensive suite of services has effectively closed the gap between affordability and legal precision.
At its core, Yellow provides a structured framework and an intuitive interface that prompts users to consider crucial elements of a Will – from assets and beneficiaries to executors and specific bequests. This modular approach helps prevent oversights or ambiguities often found with a do-it-yourself approach.
Furthermore, it empowers users to draft a comprehensive Will at a fraction of the cost compared to conventional legal services. Additionally, with the convenience of real-time updates and revisions, Yellow has reshaped the way we think about the traditional Will, from a stuffy, complicated document we only make once, to a living, breathing document, that is capable of evolving with us.
What distinguishes Yellow further is the integration of professional legal expertise into the platform. Users can benefit from tailored guidance based on their provided information, seamlessly blending the ease of a digital platform with the assurance of professional oversight.
Yellow is more than just an online Will-making service; it's a commitment to providing a dependable, comprehensive, and user-centric solution for estate planning needs in India.
Exploring Yellow's Unique Features
Yellow is designed to simplify the online Will creation process, providing user-friendly features that streamline the entire experience:
Intuitive Interface
Navigate through the Will creation process effortlessly with a user-friendly interface featuring step-by-step guidance to ensure a smooth journey from start to finish.
Efficient Asset Management
Manage your assets effectively by easily adding, organising, and updating details within the platform. With more than 35 asset classes available to choose from, this feature allows for a comprehensive overview of your estate.
Notes and Comments
Enhance your Will with personalised instructions, comments, or specific details for your Executor’s guidance. The Notes feature helps by providing a space to add additional information, instructions or context to each asset, making execution more straightforward.
Video Recording
For added security and authenticity, Yellow allows users to upload a video of themselves reading and signing their Will, a practice that is highly recommended by estate planning experts. This feature serves as an extra layer of proof in case of any disputes in the future.
Comprehensive Support
Yellow goes beyond just creating a Will. It provides extensive support, ensuring that users have the necessary tools and assistance to craft a legally binding document that reflects their wishes accurately. Yellow's team of experts also offers legal counsel to those who need it.
Why Yellow Stands Out As An Online Estate Planning Tool
Yellow distinguishes itself in the market for several reasons, making it a preferred choice for Will creation and estate planning at large:
User-Centric Approach
Yellow's user-centric design prioritizes individuals, acknowledging the emotional significance of crafting a Will and providing a compassionate and uncomplicated process.
Legal Support and Guidance
Yellow offers more than just a template. It provides legal counsel and guidance throughout the Will creation journey. Users benefit from expert legal assistance to address any concerns or queries they may have.
Simplified Process
Creating a Will is often perceived as complex and daunting. However, Yellow simplifies the entire process by breaking it down into manageable steps. This modular approach demystifies Will creation, making it accessible to all.
Security Measures
Ensuring the safety and confidentiality of your data is our top priority at Yellow. We implement robust security measures to ensure the protection and privacy of your information.
Accessibility and Convenience
With Yellow, you can create your Will online or with the use of our mobile app. This eliminates the need for physical appointments, allowing users to craft their Will at their own pace and convenience. This accessibility factor makes Will-creation hassle-free.
Comprehensive Approach
Yellow doesn't just stop at creating your Will; we adopt a comprehensive approach to estate planning that extends support to executors and families post the demise of their loved ones as well. Our unique solution, Yellow Smart (Smooth Asset Recovery and Transfer), offers individuals a way to proactively protect their families. Subscribing to this service ensures that in the event of any unforeseen circumstances, our team of experts and a vast network of over 500 specialised agents, lawyers, and CAs across India will handle all post-demise formalities. This includes navigating through the legalities and paperwork, alleviating the overwhelming burden often faced by families during such challenging times.
Tips For Creating A Robust Online Will With Yellow
Although Yellow makes the entire Will-creation journey straightforward and easy to follow, there are some things you can do to make the process even simpler.
Gathering Estate Planning Documents
Before starting, gather all essential estate planning documents and information, including details about your assets, beneficiaries, and any specific instructions you want to include. Keep in mind any other estate planning forms that may be required based on your unique situation.
Legal Support & Consultation
If you have any doubts or questions during the process, don't hesitate to reach out to Yellow's support or experts for legal assistance and guidance.
Technical Support
Our helpdesk offers technical and other app-related support throughout the week.
Accuracy Is Key
Ensure all the information provided in the Will is accurate and up-to-date. Double-check details like Beneficiary names, asset descriptions, and any specific conditions or instructions.
Include Details
It's crucial to include a detailed description of your assets in your Will. While Yellow doesn't gather asset values, providing thorough information helps your family easily identify and manage your assets.
Regular Updates
Life changes, and so should your Will. With Yellow, you can periodically review and update your Will to reflect any significant life events or changes in your assets or beneficiaries.
Secure Storage
Once created, securely store your Will and make sure your family or executor knows where to find it.
Services Offered By Yellow: Online Will, Trusts, Living Will & More
At Yellow, we are proud to offer you a comprehensive digital estate plan. From online Will and Power of Attorney to Living Will, Trusts, Gift Deed and more, we offer a gamut of services for young families and old, making us one of the best online Will makers out there.
Here's a few of the services on offer.
Legal Will
Create your Will online with the help of experts. Read more here.
Family Trust Or Living Trust
A robust solution with enhanced asset protection, flexible distribution options, and expert guidance. For young families, we suggest a Living Trust that's irrevocable. Read more here.
Yellow Smart Asset Transfer
Pay a fixed annual fee based on your age at sign-up for year-round protection for your loved ones. Read more here.
Post-Demise Services
We offer end-to-end asset transfer assistance delivered to your doorstep. Read more here.
Probate Of Will
We can help you facilitate Will Probate in your jurisdiction. Read more here.
Succession And Legal Heir Certificates
A succession certificate or legal heir certificate is an important legal document that becomes applicable in cases where the deceased person did not leave behind a valid Will. These legal documents play a crucial role in establishing a rightful claim and facilitating the transfer of the deceased person's assets, following the guidelines of the Indian Succession Act, 1925. Read more here.
Will Registration
Will registration is a legal process by which you ensure the validity and authenticity of your Last Will and Testament. It involves recording your Will with the appropriate authorities to create an official record of your final wishes regarding asset distribution, property inheritance, and more.
Will registration adds an extra layer of security to your estate planning efforts, minimising the potential for disputes and ensuring a smoother transition of your assets to your chosen Beneficiaries. Read more here.
Legal Consultation
While dealing with legalities and government processes, you may have questions. Our team of legal experts have more than 50 years of experience to help you navigate the legal process or create a customized estate plan. You can schedule an appointment with our legal experts here.
Power Of Attorney
A Power of Attorney (POA) is a legally binding document that grants a trusted third party or entity the authority to represent you in critical decision-making regarding personal matters. This becomes invaluable when circumstances prevent you from being physically present or capable of making medical decisions. Essentially, the POA empowers an 'agent' to act as your authorised representative, ensuring your interests are protected and your affairs such as financial and medical matters are managed effectively. Read more about it here.
Gift Deed
A Deed of Gift, also known as a Gift Deed, is a legal document used in India to transfer ownership of certain assets or properties from one person, known as the donor, to another person, known as the donee, within one's lifetime and without any exchange of money. It is a common way to gift assets to family members, friends, or other individuals, and it carries legal significance under the Transfer of Property Act, 1882, and the Income Tax Act. Read more here.
Living Will
A Living Will, also known as Advance Directives, Advance Medical Directive or AMD, is a legal document that outlines your preferences for medical treatment and other health care directives in case you become unable to make your own health care decisions.
In cases of serious illness or incapacitation, the Living Will can serve to guide your healthcare providers and loved ones about medical orders and the type of medical interventions including life sustaining treatments you want or don't want under specific circumstances, especially those related to end-of-life care. Read more here.
