We all know of the importance of estate planning and, in particular, making a Last Will and Testament. However, despite this over 65% of us pass away without ever making a Last Will. Of those that actually make a Last Will, many of these Wills turn out to be invalid or flawed in some way. This usually happens with home made Wills as people fail to take proper care in making their Last Will and subsequently in executing the Will. Fortunately, there is a simple way to avoid having your Last Will deemed invalid.
One of the best ways to make a legal Will is to make a Will online using the internet. There are a number of reputable companies, like Enodare, which have been in business for a long time that now offering online Will writing services. Making a Will online is easy and usually only takes about 10 minutes of your time. To make an online Will (or an “internet Will” as many call them), you simply go through a straight forward question and answer process. You will be asked questions about your marital status, your children, what assets you wish to gift to specific beneficiaries, UTMA custodianships and child trusts, payment of debts and taxes, and so on.
As you answer questions, the online Will making software should present you with questions relevant to your circumstances. For example, when you indicate that you have children a good piece of online Will writing software will automatically ask you about guardianship of your minor children – in much the same way as a lawyer would.
Once you have answered all the required questions and made all appropriate selections, the online Will maker software will process your answers and formulate a Last Will & Testament that is unique to your particular circumstances. You can then usually purchase the Last Will you made online for a small fee.
In choosing an online will provider, you should ensure that you select software that has been prepared by lawyers (many are not!!) and that is being sold by a reputable company with estate planning experience. You should also look for Will making software that includes advanced features like the inclusion of alternate beneficiaries (few pieces of online will making software do), UTMA custodianships, child trusts, pot trusts, guardianships and options for the payment of taxes and debts.
You can buy cheap online Wills on many internet sites. However, before you do, you should make sure that these cheap online Wills contain the options set out for online Wills above. Otherwise, the cheap online Will may end up costing your family a lot in the long run!!
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