No one wants to think of it, but we have to write a will with clear instructions for what to do with our possessions and estate when we pass away. Online will contain a person’s final wishes and are a sort of to-do list for our loved ones after our death.
But even if you want to make one, going to a lawyer and crafting a simple will can be quite complicated.
This is why many people have decided to create their will online. However, even if online wills are becoming popular, it’s important to understand how they work before getting one for yourself.
So, in this article, we’re looking at what online wills are, the benefits and drawbacks of getting one, and how you can get one for yourself!
Read on to learn more.
What Are Online Wills?
An online will is a valid will that you can obtain online. Most of the time, all you have to do to create these wills is fill out an online form with your wishes, special gifts, and everything else you want to put in your will. From there, expert lawyers will craft a legal will that will be executed when you pass away.
Getting an online will is a very straightforward process that doesn’t require traditional lawyers. On top of that, you can even get a new will at a fixed price, making the entire process much more convenient.
That said, there are pros and cons to creating an online will. And in the next section, we’ll get into them to give you a better idea of whether or not you should get an online will.
Benefits of an Online Will
Here are some of the key benefits of online wills.
A Quick & Simple Process
The first benefit of getting an online will is that the process is really straightforward. All you have to do is fill up a simple form then you’ll have your will in no time. Most firms that offer an online will offer them with no additional costs, making it a simple and cost-effective option that many Australians need.
Many of us want to create a will to give us peace of mind. However, with the hustle and bustle of everyday life, it can be hard to go to a law firm and prepare all the legal documents for a will. This is why you might want to consider doing everything online instead.
Easy Access
Another benefit of getting your will online is that you can easily access the document. That way, you can view it and read it at any time. This makes it much easier to manage your will and keep track of which beneficiaries receive certain assets and specific gifts.
Edit At Anytime
Most of the time, you need to craft a new will whenever you want to make updates. This means that you have to get a power of attorney and other documents just to make a simple update. But when you have an online will, making edits is much easier.
That said, not all firms offer a simple editing process. So, when looking for a website that allows you to create your will online, we recommend looking for one that allows easy edits. Click here to read about Insolvency Lawyers: What They Do & How To Find the Best Insolvency Practitioners.
Privacy & Security
On top of all the benefits above, you can rest assured that your will is private and secure when you store it online. Since these documents contain sensitive information like bank accounts and further information about a person’s last wishes, you want to ensure that it’s private. And when you get your will online, it’s much safer than when stored as a physical document.
Drawbacks of an Online Will
An easy-to-complete online will allows you to create a lasting legacy after you pass away. However, there are some downsides to this service, which we’ll explain below.
Some Wills Aren’t Customised
To start, some websites don’t offer customized wills. These websites will ask you to fill up a form then they will add that information to their template. If you don’t go through the right website, the wills may not have all the necessary information. On top of that, you won’t get expert attorney advice, which is important if you want your will to cover all bases.
Only Covers One Document
To execute your will, you need multiple attorney documents. And with many websites, they only provide you with a will. If you have a traditional lawyer create your will, they’ll also be able to produce any other necessary documents.
Is an Online Will Legal?
An online will is legally valid. So, if you get your will online today, you have the peace of mind that your family and loved ones will receive instructions and gifts after your passing. This is an affordable and convenient way to safeguard the future of your family and assets.
How Old Do I Have to Be to Write an Online Will?
In Australia, you have to be 18 to create an online will. But once you reach the legal age, you can go to any website and create an online will.
Your will can stipulate the details of your funeral service, bestow gifts to certain people, and even dictate how to distribute your assets. All of this will be legally sound and written in plain English, ensuring that your wishes will be executed after your passing. You can also read about Professional standards for financial advisers by visiting https://asic.gov.au/.
How Do I Get an Online Will?
Getting an online will is a very easy process that only takes a few minutes. Simply find the right firm for you, head to their website, and start filling up the form. Most websites give you the option of a flat rate for their standard will or a custom rate to tailor a will to your needs and wishes.
From there, simply follow the steps on the website, and you’ll have a legal will in no time!
Conclusion
If you’re in Australia, you might want to consider writing your will online. This costs less money and allows you to ensure all your beneficiaries get what they need after your passing. The will can also include all your final wishes that will be met after your death. So, if you want to have a valid and legal will now, it might be time to start crafting your online will.