InstaWILL — an instant Will for your estate and succession planning

Leaving your wealth to your loved ones is a wonderful gift, but do you wish to leave them in a tangle of paperwork as well? There is one company, which has developed a specialisation that makes it stand out from a mass of lawyers for whom succession planning is a minor area of work

The clichéd story in India regarding problems due to lack of succession planning and Wills is about the legendary Dhirubhai Ambani. Mr Ambani was a brilliant man who planned for all adversities in his lifetime but not for a smooth succession after death. He left no valid Will which led to one of the most bitter and public fights between his two sons.

It is a poignant reminder that even the greatest of minds can commit basic blunders. The moral for everyone - young or old - is the will to do your succession planning and a Will. But drafting a Will and succession planning, including estate handover is a minor area of work for most of the legal fraternity. This is the reason people find themselves at sea, while drafting or making a Will.

The solution is standardised Wills, at a fraction of the normal cost, delivered over the Internet. It's InstaWILL, the fast, online solution of Warmond Trustees and Executors Pvt Ltd. According to Sandeep Nerlekar, MD and CEO of Warmond, "Small loopholes in the Will can cause bigger problems. We have a professional team that comprises experts from (the) investment, banking and legal (professions) who can provide specialised tailor-made advice and solutions in estate planning and a Will. We are serving a market that is overlooked by lawyers busy with lucrative corporate law practice. Moreover, we made a decision to stay away from wealth management so that it does not dilute our business purpose," said Mr Nerlekar.

Anyone who wants to make an InstaWILL can log into and send their instructions to Warmond's team of experts. The team then reviews it and sends a customised draft through an email to the customer, who after checking the same can take a printout and sign. Warmond offers free custody of the Will for one year.

Apart from InstaWILL, Warmond also provides tailor-made solutions on succession planning, which include Will-writing services, executor services, trust formation and trust-management services, document safe custody services, escrow services, real-estate management and other auxiliary services.



Narendra Doshi

6 years ago

Fair comments from readers & Sucheta. Keep going. Will appreciate from Sucheta on comments of Milind Karnik on the simple format of will available with Mumbai Grahak Panchayat.

Milind Karnik

6 years ago

Mumbai Grahak Panchayat has a simpe and easy to understand draft of will.


6 years ago

A Good article with a tilt on marketing. I checked out the site of InstaWill and saw that it costs almost Rs. 10,000/- for InstaWill in which they will offer LIMITED 2 DRAFT ONLY. What you have done through this article is good and that is making every individual with reasonable assets aware of the need of a Will. But what I would have expected from Moneylife Team is that in the article itself it should have been explained that making a Will is not a difficult and complicated task. Rather the article should have focussed on simplifying or demystifying making of a Will, by highlighting or giving points which should be taken care of. Further, Moneylife should conduct a seminar as it conducts on various issues, for the same and call prominent Lawyer/s to address the gathering to drive home two things a) Making a Will is a Must and b) it is easy to make a Will on your own.

I have very high regards for Moneylife Team and that is why my expectations are also high from them. Had the InstaWill been priced more reasonably it would have been justified to focus solely on their product in the article, but since it is priced so high, majority of the readers will take home the feeling that making a Will is indeed very complex and a Lawyer's guidance is a must. In majority of the cases it is not. My own father and mother have their Wills which had been made without any lawyers help.

Rather it would have been ideal if Moneylife would offer few standard drafts of Will for people to tweak little bit and then inspite of that if people require help, may go for lawyer's services.



In Reply to Prakash 6 years ago

Well said,Mr.Prakash.Your suggestions,esp. in the last para are really very practical.Since your parents have done the wills on their own,it would be very educational for lay men like me to try and attempt the same if you will share your thoughts and process.My e-mail Id is "[email protected]" and I would be grateful for your help.Thank you.

Sucheta Dalal

In Reply to ASundaram 6 years ago

Dear Mr Praksh/ Mr Sundaram

Thank you for both your comments. We at Moneylife are very keen on finding a way to help people make Wills effectively and in a way that cannot be challenged.
Indeed, we did consider the fact that we have reported only one product, but so far as we know, it is the only fixed price product offered by anyone in the market today. Also, when we checked, we found that costs are often far higher than the Rs 10,000 product offered by this company. Thirdly, this is an information piece not a Moneylife recommendation. We believe information on such products is also of value to our readers.

Having said that, we have been on the lookout for easy solutions to making Wills for the past three years. We find that the only help available to people is usually part of wealth management services and can often cost a lot if it involves several rounds of dialogue with lawyers.
As for demystifying the Will, we accept your suggestion and will work on it. We have already conducted a workshop for senior citizens through Moneylife Foundation that addressed the issue. It showed that most people do not have the confidence to tweak a draft Will without help from an expert; they worry that it may not stand legal scrutiny when they are no longer around.
I do appreciate that expectations from Moneylife run high and we are value your feedback.
Sucheta Dalal


In Reply to Sucheta Dalal 6 years ago

Thanks for the response.

I appreciate the efforts gone in bringing the article for the readers and the underlying concern for investors.

Some time back, I had attended a seminar on "Will-Nomination" conducted by Council for Fair Business Practices with speakers such as CA Vimal Punmiya, Mr. Anil Harish (D M Harish & Co.), Mr. S C Kothari (Kanga & Co). It was very informative seminar during which they educated the audience that making will is not at all difficult (Inspite of they being from Lawyer firm). Since you mentioned that you have already conducted similar seminar but for senior citizens, then I would like to point out that actually people should know that for making Will one need not be nor wait to be OLD. Ideally once one gets married, he/she should prepare a Will. One only needs to take care while preparing the Will that it should clearly mention what one wishes to do about his assets as to whom to distribute what. Also, one need not fret much about it, as just like a Nomination in a Demat a/c or Mutual Fund investment, one can change the Will as many times as one wants, as situations change in his life. Secondly, one should ensure that it is signed (with date and addresses) (also preferably signed/initials on every page) by two Witnesses, preferably, but not necessarily, at the same time. It is not necessary that the two witnesses know what is in the Will. It is not mandatory that a Will should be registered. A simple worded Will on a plain paper is also valid.

Another point which I feel is important is that ideally, a married person should give a general PoA in favour of the spouse. In an unfortunate event that the person is alive but not fit to do anything (such as coma, etc.) it comes very handy. Ofcourse, this is for those people who trust their spouses as much as they trust themselves.

I have mentioned few guidelines which I think will help. Hope it is helpful to the readers.

Indian wine market warming up to international labels

Bangalore: The Indian wine market is warming up to international labels but issues like rigid legislations, high label and brand registration costs, lack of wine conservation methods and awareness about wine and international brands were making it difficult to uncork this market to its fullest, reports PTI.

Though the young domestic wine market is still to take off compared to international mature wine markets, the consumers slowly and gradually had begun displaying interest in international brands and are ready to experiment, according to Arun Kumar, Aspiri Spirits, leading importers and distributors of premium wines and spirits in India.

"Earlier wine just meant choosing between red and white wine. The association was limited to very few brands. A bottle of wine was just an option during a party, in case anyone felt like having it. But now the scenario has changed and consumers have a portfolio to choose from. There is an educated choice," he said.

"International brand awareness has made its way into the Indian consumer market, going by increased brand recall.

Consumers now walk into a store and demand for wine by its label," he said.

"Today India is one of the fastest growing market and we are keen in establishing our presence here," said Jake Jacob, regional director-Asia-Pacific and UAE, Gerard Bertrand Wine, renowned wine group from Languedoc Rousseau region of France.

"We get around four queries per day by international brands wanting to get into Indian market," says Mr Arun, whose company has 150 international brands in its portfolio.

The work done by domestic wine market players had helped in expanding the market. Entry of new consumer segment - women and youth - had provided additional impetus.

Wine consumption was also picking up in cities not earlier associated with the drink. "We now are seeing sales in places like Chandigarh and Uttaranchal", said Mr Arun. There is also momentum in places like Rajasthan where renowned international chain of hotels and heritage properties had a presence.

Delhi, Bangalore, Mumbai were the markets that were taking up to wines and international brands as well. While in Mumbai retail and on-premise sales were 50%-50%, in Delhi, on-premise leaned to 70%-80%. In Bangalore, it was 60% retail sale, said Mr Arun.

However, despite the quite and steady momentum taken up by wine market, international players were still straddled by issues like prohibitive excise and custom duties and state-levied taxes that varied from place to place, he said.
Registration of label cost in some states was prohibitive and was thwarting growth of the market. In Meghalaya, it was whopping Rs 50,000 annually, Mr Arun said. In Mumbai and Bangalore it was around Rs 10,000 while in Pondicherry it was Rs 15,000 and in Delhi it was Rs 5,000 plus, he said.

The high excise and custom duty was one of the biggest challenge faced by international brands keen in entering in the Indian market. The varying state taxes did not help in easing the situation, said Mr Jake.

Another greatest challenge is transportation and storage of wine. "Wines that were transported or stored well could not only destroy its taste but also do away the image of the international brand," Mr Arun said.

The common flaw was to treat wine as any other spirit or beer, he said. A certain temperature level and storage requirement were must for it to retain its original taste

However, in India, the lack of storage facility was a huge issue. "Many of those dealing with sale of wine did not have wine chillers". Investment in wine preservation was a low key priority area in India.

Wine players have begun organising events connected with disseminating knowledge about wine, food that pair with wine and by holding wine tasting sessions or short courses in wine making and processing to expand the market, said Mr Jake.

"Training restaurant and hotel staff about wines was also imperative. A trained staff, well-versed with the origin and history of a brand and one who could add some inputs when asked about their opinion on a wine could help in getting a customer to try a brand," said Mr Jake.

 Some of the states had also begun getting proactive which was definitely going to add cheer to the wine market, opined Mr Arun. Punjab had done away with wine label registration cost while Chandigarh had put in place a policy that lets retailers avail of low concession fee if they provide air-conditioned rooms, tasting area among other amenities.

"These initiatives are bound to be conducive to retail and for a walk through experience. They encourage retail players," he said.

Karnataka was another state, which had done much to boost the wine market including announcing wine taverns to promote wine consumption and brand awareness. "Karnataka has in a way set the bench mark which others were modelling on," he said, referring to its policies and transparency Bangalore has one of the best retail experience for wine and the state boasts of an effective distribution system, he said.

However, some of the states with an eye at protecting domestic grape growers and wine companies had made the entry of international brands whoppingly expensive, he said.

But the international brand players were optimistic. "We think many of them would rationalise the costs seeking the revenues it brings to the state government", he said.

While currently, it was the old wine growing markets like Spain, Italy, France and Portugal that had their presence with French leading, slowly there has been a growing interest of wine from new wine growing countries like Chile, Argentina, Australia, said Mr Arun.

Traditional players like France continue to dominate the market. Italy has become very aggressive with its embassies and trade groups promoting wine growers. Australia has also turned marketing aggressive.

The interest in new wine growing countries was because these wines were more easy to taste and palatable. With Indian consumers just experimenting, these wines were easy, however, as the consumers mature they would opt for more full bodied wines of the old wine growing countries. The new wines were also ready to have rather than the old ones which needed cellar storage facilities for months or years.

With the market warming up, it might soon be time for international brands to toast to some good times.


India to have 237 million internet users by 2015: Report

Boston: India will see its number of internet users triple to 237 million from the current 81 million by 2015, reports PTI.

In a study titled 'Internet's New Billion', the Boston Consulting Group (BCG) said Brazil, Russia, India, China and Indonesia (BRICI) will have more than 1.2 billion internet users by 2015 - well over three times the number of internet users in Japan and the US combined.

In 2009, the BRICI countries had some 610 million Internet users.

"Internet penetration rates in the BRICI countries will experience compound annual growth of 9% to 20% from 2009-2015, driven predominantly by young users who will form the digital-market eco-systems that will be in place for generations to come," the management consulting firm said.

With BRICI countries constituting many of the world's most populous nations, "It may come as little surprise that their digital-consumer ranks will swell so quickly," the report added.

Describing India as a "low-maturity and high growth market", BCG said Internet penetration rate in India is expected to reach 19% by 2015, up from the current 7%.

"There are currently about 81 million Internet users in India - a number that will nearly triple by around 2015 to 237 million," the report said.

India's Internet use is concentrated mainly in the larger cities, where many users are migrants from smaller towns. This group tends to have had limited exposure to the internet and therefore typically has a narrower range of online needs than more experienced users.

"Offsetting this situation is the prevalence of younger Indian users," the report said. Indian Internet users spend only half an hour online each day, on average - the lowest rate among all the BRICI countries.

This average will increase to only 0.7 hour per day by 2015, leaving India still bringing up the rear among BRICI users in terms of daily time spent online.

"However, this is a conservative projection and that there could be some major surprises depending on how quickly pricing comes down and availability increases," it added.

Among the most prominent trends is that BRICI digital consumers are far more likely to be meeting their digital needs through mobile phones than through personal computers.

With PC penetration still quite low, mobile phones are cheaper and more convenient tools for both communicating and seeking out entertainment.

For India, the next big growth opportunity should emerge from the rural market where penetration of mobile phones is far less than in urban markets, which have already begun to show signs of saturation.

"The biggest gap in rural areas has been network coverage and distribution channels - a divide that most companies are currently trying to bridge.

There is an untapped opportunity for improving data usage in all of India's consumer segments," it added.

Indians' mobile-phone activity is limited almost exclusively to phone calls and SMS, although only about half of India's 507 million mobile-phone owners use the latter. Just 5% use mobile video.

"This could change when third generation (3G) and other forms of wireless broadband are launched in earnest."

The BRICI countries currently have about 1.8 billion mobile-phone SIM card subscriptions, compared with a combined total of 394 million in the United States and Japan.

China, India and Indonesia have SIM penetration rates ranging between 41% and 66%.

By comparison, the United States and Japan are both at around 90%.

By 2015, SIM penetration in China and India is expected to reach 84% and 75%, respectively owing, among other factors, to users taking advantage of prepaid plans from different operators.

Currently 60% of BRICI Internet users are under the age of 35.

As they earn even higher incomes and develop more complex online needs, there will be a colossal opportunity for digital companies to monetise services and products.

Given how rapidly the BRICI markets are developing, companies planning entry strategies will have to act quickly - or risk missing the opportunity to connect with consumers now and grow with them throughout the coming decades, BCG said.

"The Internet is already having a fundamental impact on consumption patterns, and the patterns we're seeing are significantly different from those in the United States and Japan," says report co-author David Michael, who heads BCG's Global Advantage practice.

"Companies relying solely on traditional means for reaching consumers in the emerging markets need to understand the impact that the shift to digital media is going to have," the report added.


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