With advancing technology and ease of access to useful tools, there are many ways to create a will. It leaves little room for excuse, especially when it comes to securing the future for your loved ones. While thinking of creating a will can feel morbid, many that have taken steps to secure their legal documents have found peace of mind in outlining their final wishes. While the first step in creating your will isn't hard, there are a few methods to help you do just that. Growing in popularity is a DIY Will Kit and online methods. Learn more below.
If you're considering creating your own legally recognized last will and testament, there are a few options. More people are rejecting the idea of taking the time to hire an estate-planning attorney and, instead, are opting for less conventional methods, yet just as effective. A DIY Will Kit can provide what you need to get started.
Wills.com is an alternative to a DIY Will Kit and perhaps an easier method of taking a step-by-step approach to creating your last will and testament. Everything you need can be found at our site, and you can get started with a few clicks.
What Is A DIY Will Kit
A DIY Will Kit is what it sounds like. It is a last will and testament that you write yourself, instead of an estate attorney. This can be done by anyone who has the time and ability to write their own will. The reason why people use DIY wills kits is that they are cheaper than hiring an estate planning attorney, and they can be created quickly and easily.
“Many people find great comfort in making a will and it can be a useful period of review and introspection, often resulting in a renewed enthusiasm for the future knowing that there's one less thing to worry about.”
There are two main types of DIY wills kits: paper-based and software or online-based. Paper-based DIY wills kits are usually more affordable, but they also take longer to create. Online-based DIY wills kits allow for faster reaction times, but they can be more expensive.
You should always consult with an attorney if you are unsure about any aspect of your will or trust. However, if you are looking to save money and your assets and wishes are not complex, a DIY Will Kit is a legal and suitable alternative to the premium price of an estate planning attorney.
How To Write Your Own Will
With a DIY Will Kit you will have to write your own will, which is actually a very simple process. There are just a few core things you must include. Consider documents needed for will preparation.
The first thing you will need to do when writing your will decides whether you would like to leave everything to your spouse, children, grandchildren, siblings, parents, etc. You can choose from these options, or you can write to a specific beneficiary. When choosing beneficiaries, make sure you include each person's name, address, phone number, email address, relationship to you, and how much money you want them to receive.
Next, you will need to list all of your assets. These can include items such as:
Bank accounts
Stocks
Bonds
Real estate or Vehicles
Jewelry, artwork, antiques, other collectibles
Make sure you include the value of each asset or have it appraised if needed. If you don't have enough information about your assets, you can contact your accountant, financial advisor, or tax professional. They can help you determine the correct values to put into your will.
After all of your wishes have been stated, you will need to sign your will. However, you must sign it in front of witnesses who can declare that you are of sound mind while creating your will. Then, when you die, this will is valid and can be used to distribute your assets to your loved ones. An online will creator tool can help ensure that your last will and testament meet all legal requirements.
Considering Creating Will With DIY Will Kit?
When it comes to DIY Will Kits, there are a couple of things you need to remember and be aware of. Generally, DIY Wills aren't looked over by anyone to ensure that everything has been filled out correctly. As a result, the writer of the will may fill out sections incorrectly making the probate process much more difficult. Worst-case scenario, some incorrectly drawn wills can result in the will being declared invalid and ineffective.
Alongside, this will have to be reflective of the current wishes of the person. However, life is constantly changing and circumstances change as well. As a DIY Will is typically paper-based, it can't be easily changed to meet the current situation the person finds them in. As a result, every time you want to change something, the will must be destroyed and written again. Also, if the will isn't changed to reflect the current situation of the person, then the will may become invalid when it is time to use it as well.
However, DIY Will Kits are great for basic estate planning situations. Yet for more complex estates, a DIY Will Kit may not be the most appropriate for your situation.
DIY will kits are a very simple and affordable option when you want to create a will. However, if your estate isn't simple or your situation is constantly changing, then you may want to look at another option. As DIY will kits are normally paper-based you may want to look at creating a will online instead.
Pros and Cons Of A DIY Will Kit:
Pros:
Affordable
Simple to complete for small estates
Written quickly
Cons:
Easy to not fill out correctly
Not ideal for anyone with large estates
Not easy to alter, when a situation changes
Paper-Based or Online Wills
Above, we have gone through the pros and cons of a DIY will kit. They are a cheap and simple alternative that you create yourself. However, it is easy to not fill a DIY will out properly. As a result, you may want to consider creating a will online instead. Wills.com is an example of an online will-creating site, that allows you to create a simple and basic will within just 15 minutes.
With an online will, you can choose a template and fill out simple forms that will create your will for you. There are several options for you to select from, and some sites will walk you through the process. With Wills.com, there are a few simple questions that help to generate a will that is more suited to your exact needs. It also generates a will that will comply with your resident state. Every state differs with last will and testament requirements.
Using a lawyer to create your will can take a lot of time. However, both DIY Will Kits and Online Wills are much quicker. An online will is much quicker to fill out than a DIY Will Kit. Also, with an online will, it is a lot easier to update, when your personal situation changes suddenly.
However, no matter how you create it, it must be witnessed and signed. Both online and DIY will kits have steps that help you with steps, because unless it is witnessed, then it cannot be seen as a legal document.
Wills.com: DIY Will Online
A DIY Will Kit is a great option that saves you a lot of money and time. However, DIY will kits are the best option for everyone, as they can be difficult to modify once established.
Instead of a DIY Will Kit, we would suggest using an online will creation site instead, like Wills.com. An online will is still much cheaper than hiring a lawyer to complete your will, while still saving time and money. However, with an online will, you can easily update your will and store it somewhere safe. All changes after your will creation are 100% free at Wills.com. We can offer a step-by-step guide and answer any questions free of charge, as well.