Should I make an online will?
While nobody really likes to talk about this sort of topic, there’s no denying how important a will is in regards to ensuring your family members are well supported, should the unfortunate occur.
That being said, writing a will can be a difficult, laborious process.
Perhaps as a result of this, in the last few years we have seen the emergence of a range of services offering quick, easy ways for anyone to write their own will online.
We’ve taken a look at what you can expect from this process, as well as the advantages and disadvantages it offers, so you can decide whether or not it’s the right decision for you.
How does it work?
Most online will services are simple enough. Generally you will sign up with a website, choose the particular document you’re looking for and fill out a few simple questions pertaining to your circumstances. From here, the process can be as simple as previewing your document, making the necessary payment and processing it. In fact, it can be done in about half an hour!
Advantages
There is a range of advantages that come with choosing the online route for your will:
- Cost – most online wills are genuinely pretty basic, but as a result this keeps the costs down and you can generally acquire a will without having to fork out too much at all.
- Speed – writing a will can be a long, laborious process, but if you have all the information handy writing it online can have you finished in absolutely no time at all.
- Convenience – with the ease of shopping online you can have your will finished and ready to use in half an hour, without any meeting, or unnecessary appointments.
Disadvantages
There is also a range of disadvantages that come with choosing this service, including:
- Simplicity – most online wills only really cater for the basics, so if you need more complicated advice you might be better served contacting an attorney.
- Accountability – an online document preparation service is not a computerised lawyer and if you accidentally insert incorrect information your will may not be enforceable.
- Complications – evolving estate tax laws may leave your will useless unless you’re abreast of these developments, and sometimes it just helps to contact a legal professional.
Related links:
3 places to safely store your will
10 celebrities who cut their kids out of massive inheritances to give to charity
Why you need to appoint a power of attorney now