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In the virtual age, the benefits of crafting online documents, including wills, are being reaped by one and all. While this technique can be more expedient and problem-free than traditional methods, there are still commonplace pitfalls that individuals can fall into. 

This article outlines some of the everyday errors human beings make when drafting an online will and the way to steer clear of them.

Making a will can seem tough, but it's really important. A will is a paper that says who gets your things when you are not here anymore. People use attorneys to make wills, which takes time and mone.

Now, there's a new way: QuikDox! QuikDox is easy to use online and helps you write your own legal will fast.

QuikDox uses simple steps to guide you through making a will without leaving home. With this service, writing a basic online will cost only $150 or even less sometimes! Plus, if life changes, like having a baby or moving houses, updating your will with QuikDox is easy, too. This article explains why everyone needs a will and how QuikDox makes the process simpler. You'll learn how it saves time and money over traditional ways of making a will. Keep reading for all the info on creating your very own online will with QuikDox!

The Reserve Bank of India (RBI) has released a website called UDGAM (Unclaimed Deposits — Gateway to Access Information). Its intention is to make it smooth for the public to discover any deposits they or their families might have forgotten. It could be claimed as one’s own deposits or as heirs to deposits left by ancestors.

Unclaimed deposits mostly happen because sometimes we may not close savings or current accounts when we no longer need them. It also occurs when we forget to collect money from banks after fixed deposits mature. Another situation arises when someone passes away, and the family is not aware of these deposits and hence are not in a position to claim them.

When you use the RBI UDGAM Portal, you’ll be able to see information about unclaimed deposits in seven banks at one go. These banks are SBI, Punjab National Bank, Central Bank of India, Dhanlaxmi Bank, South Indian Bank, and DBS Bank India. Citibank is also available on the portal for organizations, not individuals. More banks will be added in the future.

Here’s a step-by-step guide on how to use UDGAM and check if you have any unclaimed deposits (either your own, or of your ancestors which you can claim as heirs.) You can find the link to log in to the RBI UDGAM Portal at the end of this article.

How to use UDGAM and claim your Unclaimed Deposits

1.Register with your mobile number, name, and password.

4.Name of the account holder is mandatory: Do try various permutations and combinations of names. If there is a possibility of the name having common different spellings, use those also

E.g. If you are searching for any unclaimed deposits left by your late father Shri P K Goyal for which you are a legal heir:- search with various combinations of the name: Praveen Kumar Goyal, Praveen Goyal, P K Goyal,P K Goel, Praveen Kumar Goel, Praveen Goel.

5.Bank field is mandatory. If you want to search only in a specific bank, choose that bank; else select ALL banks. It is preferable to select ALL banks for a wider search.

6.Search with any one or more of the 5 fields: Driving license, PAN , passport, Date of Birth, Voter ID. Do try fields one by one for wider search.

7.You may also search with address

9.Click on the bank name and follow the procedure mentioned. Visit the bank along with your identification, address, claim documents.

10.If the deposits are your own; the bank will mark the accounts as operative and you can start enjoying the deposits. If you are claiming the deposits as an heir / nominee, the bank will process your claim as per their claim settlement process.

Previously, for unclaimed deposits, you had to check each bank’s website separately to recover it. The new UDGAM website simplifies this by allowing you to search across various banks in one place.

Also, you can ensure that your deposits never become unclaimed and are accessible to your family by following this formula:

1. Always do nominate, wherever this facility is available.

2. Make A Will. It has now become affordable and you can make it conveniently in minutes from your home.

3. Inform your trustworthy friends / family members of the list of your assets and Will as per your comfort.

4. Regularly update your nominee address, Will beneficiaries as and when required.

Digitisation, Automation, Robotics, Mobile apps, Connected devices, Shopping, WFH - the world we live in is shifting from offline to online and fast. However, there are still a few tasks that are considered possible only in an Offline setting. One of them is making a Will. 

Well I don’t think we can blame anyone for this. Just close your eyes and think of making your own Will and tell me what comes to your mind. It’s a no brainer. Isn’t it a guy wearing a black coat, geeky glasses and a file and briefcase in his hands? Let’s understand why we have this image in our mind. 

Whenever we talk about property, inheritance or anything that requires the change of ownership, we have been told from ages that it's a complicated legal process. It’s not something that you can do on your own. You need to hire a lawyer, a consultant  who is an expert in handing these processes which will invariably have many formats to be filled. 

Surprise - that’s not quite the case with making a “Will”. Law does not even prescribe any format for making a “Will”.

Let’s get the clarity on what is a valid “Will”.

What is a “Will”? A will is a document where you write how you want to distribute your property / assets/ wealth. It can include immovable (house, land etc.) or movable (cars, jewellery, paintings etc.). You can distribute to family, relatives, charities, outsiders, etc.

When is a ‘Will’ considered as a valid will? A “Will” needs to fulfil the following conditions to be considered as valid “Will” :

Person making the Will should be in a sound mind, an adult (above the age of 18 years), not under any influence/fraud / pressure and should make the Will voluntarily.

It should have two witnesses. (Beneficiary of Will cannot be a witness)

The two witnesses and the person whose Will is being signed should be present together to sign the Will.

Will can be handwritten or typed, however typed Will is preferred on a plain paper and should have date and place of signing.

There is no stamp paper requirement or stamp duty payment for the “Will” in India. Stamp duty is zero on a “Will” It is exempted. Even , registration of a “Will” is not mandatory in India.

All the above are easily met when you make a “Will” online.

Fill, print and sign along with the witnesses. Do keep it safe. With the help of a mobile phone, you may even video record the signing of “Will”. 

Welcome to online world ! 

QuikDox - Your trusted partner to make your online Will. Our process management experts, customer service management professionals, IT and team of lawyers have worked together to give you a seamless, easy “Will” making experience. The online tool will generate your “Will” in a precise legal language. 

It is NOT compulsory to register a Will. There is no such requirement under the law.

In fact , a Will can be written / typed on a plain piece of paper. Stamp paper is also not required. There is NO stamp duty on Will. 

An unregistered will that has been properly made and executed is a valid Will.  Also, an unregistered properly executed Will cancels the earlier made Wills -irrespective of whether the earlier Wills are registered or not.

To ensure proper execution of Will :

All three : You (whose Will is being signed) and the two witnesses : should be present together to sign the Will.

The Will should be signed at the designated places in the document by you and your two witnesses in the following order:

1. You sign the Will  2. The two witnesses will then sign the Will .

Please note that all three should be present together while signing the Will.

In case, one wants to register their Will, they can do so at any time after making the Will. Generally, the testator and the witnesses will be required to visit the registrar office for the same. 

Isn’t this our common reply when someone asks us about our “Will”? Do we always talk about age , being a millionaire when we nominate, buy insurance, wear helmet or check if car has airbag?

Let’s think about nomination. Why do we nominate even when we are in our 20s-40s and hopefully quite fit?

What about insurance? Why do we take our first life insurance when we are in the prime of our lives? And that too of large insured sums.

Not because we think we're going to fall severely sick or take an untimely exit but just to secure the future for us and our loved ones, isn’t it?

Looks hard and rude, but the only thing certain and will 100% occur is Death. Don’t even know when it will occur. I can be the safest driver on road , the guy coming from the opposite side may not be! Accidents, stress, heart ailments in young people, new diseases- you suddenly never know what will happen next. Who thought of a virus creating so much havoc and grief across the world. Can’t escape it, but can secure the future of our loved ones.

Also , with Lakhs of pending cases of Property disputes and most of them around inheritance are telling us that it’s high time we start thinking about ‘Will’ more like a security cover for our kin rather than blowing it off by saying ‘I don’t have that kind of wealth to make a will for.’ I’m sure those lakhs of people whose living generations are fighting for their rights would have not thought of the situation they are put in just because of the unavailability of proper documentation.

And yes, I need to give special credits to our entertainment industry for scaring off people for creating their will by showing once the Will is made, you remain of no value for your kin. C’mon, don’t tell me that this thought never occurred to you whenever you have been advised to make a Will.

But today take a pause and think, do we really think so less of our own upbringing? And that the next generation is going to weigh you or value you just because you have some assets on your name? Chalo let’s believe it as true for a moment, but who says you have to make a Will with an announcement telling everyone around and by calling lawyers and legal officials at home with all the taamjham.

As we read in our last article, ‘Will’ is a document created by a sound mind person in the presence of 2 witnesses is considered as a law abiding will. Do read that blog to understand how easy it is make a legally valid Will from the comfort and privacy of your home / office. 18 and above , have any asset - vehicle , house, bank balance, fixed deposit, expensive mobiles , etc - You should make a Will.