It is wise for everyone to think ahead and a will makes sure your wishes are followed after death. Often, lawyers in the past helped individuals create their wills. Thanks to digital technology, creating a will online is now preferred by many people. Online services have the advantage of an easy process, but first, you should learn about what you might gain and what could go wrong. What information do you need to consider before you make your will legally valid? Let’s have a look at what’s essential in any story.
The Basics of a Legally Binding Will
A will is a legal document that dictates how your assets will be distributed upon your death. It can also be used to designate guardians for minor children and make other critical decisions about your estate. A will is an important legal tool that ensures your wishes are followed and helps minimize the potential confusion or disputes that might arise among your loved ones after you pass.
For a will to be legally binding, certain requirements must be met. Typically, a will must be written, signed, and witnessed. This ensures that it is valid under the law. If these requirements are not met, there is a risk that the will may be contested, leaving your assets to be distributed in ways that you did not intend.
The Appeal of Creating Wills Online
In previous years, more people have started to use online wills which are quicker and cheaper options than hiring a lawyer. Services such as Ethos.com and many others allow users to prepare legal wills through their websites quickly. The main reason for developing these tools is to ensure that those who cannot afford or don’t have time for a lawyer can handle the work online.
Is an Online Will Right for You?
Before deciding to use an online service for creating a will, ask yourself a few important questions:
- Do You Have a Simple or Complex Estate?
An online will is good for people who own basic property, including your home, some cash savings and belongings. But, if you own many businesses, real estate properties or large investments, it is wise to ask an attorney how to create your will.
- Do You Need Additional Estate Planning Tools?
A lot of websites provide services beyond making a will. Ethos.com gives you access to free tools for estate planning that include making a will, a trust, granting a power of attorney and health care directives. These platforms make it easier to create an estate plan since you can use all the needed tools from one place.
- Do You Need Help Navigating Complex Family Dynamics?
If issues within your family might make the process tough, contacting an attorney for their advice can benefit you. Having a lawyer helps prevent arguments in the family and ensures the will is written in order to avoid fights after the person’s death.
Common Pitfalls of Wills Online
Although wills made online are convenient, there are some issues to remember. Creating an online will increases the chance of someone making an error. If you don’t understand your state’s laws fully, you could miss requirements that would make the will invalid.
Other common pitfalls include:
- Not Understanding State-Specific Laws: All states have particular rules and requirements for drafting a will. Some states support electronic signatures and there are also those that do not. Preparing your will on the internet using a system unaware of state rules might result in a will that cannot be legally followed.
- Failing to Update Your Will: If changes happen in your life like a marriage, divorce, kids or purchasing assets, your will should also be updated. It is simple to use will platforms online, but you have to check and change the will when needed consistently.
- Lack of Legal Advice: Although many online services offer templates and guidance, they cannot give individual advice. Should your family have special needs or you are concerned about your taxes, you should consult an estate planning attorney to help.
How to Ensure Your Online Will is Legally Binding?
When creating a will online, here’s how to make sure it is considered legally binding:
- Choose a Reputable Online Will Platform: Use a platform that can be trusted and follows the state’s guidelines. Choose services that provide clear directions and steps for the process according to the law. Companies such as Ethos.com have estate planning tools that match the state’s requirements, making crafting a legal will more accessible.
- Sign the Will Properly: Follow the signing and witnessing requirements for your state to ensure that your will is valid. Some online platforms provide instructions on how to find witnesses and even offer digital witnessing features.
- Store Your Will Safely: After you have finished the will, keep it in a secure spot. Digital storage is simple to find online, but you should also make someone you can trust hold on to the original document.
- Review Your Will Regularly: Just as your life changes, so your will needs to update. It’s important to update your will now and then to guarantee that your wishes and circumstances are included.
The Bottom Line: Should You Create a Will Online?
Making a will using online services is especially good for individuals who do not have a complex estate. It doesn’t cost much, it’s simple to manage and you can be sure your will is carried out. Nevertheless, you ought to be certain that you are meeting the law and setting up the document properly before submitting the will.
Creating a will is a good reason to consult an estate planning attorney when your situation seems complicated. Basically, the aim is to keep your loved ones safe and give your assets to the people you intend, even after you are gone. Either through wills online or a lawyer, giving some thought to your family’s future is a very important decision.
