Creating a will is one of the most important steps you can take to ensure that your wishes are fulfilled after you pass away. Yet, a staggering 70% of Americans do not have a will or estate plan in place. This lack of preparation can lead to complications for loved ones during an already difficult time. Fortunately, the rise of online estate planning tools has made the process more accessible than ever. In this guide, we’ll explore how to create a legal online will, the benefits of doing so, and the essential steps to ensure your estate is handled according to your wishes.
Understanding the Importance of a Will
A will is a legal document that outlines how your assets will be distributed after your death. For many people, creating an online will offers a convenient and accessible way to ensure their wishes are clearly documented. Without a will in place, your estate may be subject to the probate process, which can be lengthy and costly. A 2023 study by AARP found that families without a will spend an average of 18 months in probate court. This delay can lead to emotional and financial strain for your loved ones.
Moreover, only 24% of Americans had a will in 2025, a significant decline from 40% in 2016. This trend highlights a growing need for awareness around estate planning. Having a will not only provides clarity regarding your wishes but also helps to prevent disputes among family members.
In addition, many people are unaware of the costs associated with probate. A 2024 study by Trust & Will revealed that 56% of Americans do not understand these expenses, which can include court fees, attorney fees, and other related costs. By having a will, you can mitigate these financial burdens on your family.
The Rise of Online Estate Planning Tools
The advent of online estate planning tools has revolutionised how individuals approach creating a will. These platforms have democratized the process, making it accessible to a broader audience. You no longer need to navigate complex legal jargon or pay exorbitant fees to a lawyer. Instead, you can create a legally binding will from the comfort of your own home.
Online services often provide user-friendly interfaces that guide you through the necessary steps. This convenience is particularly appealing to younger generations, who are increasingly turning to digital solutions for various aspects of their lives. The average person under 70 years old has more than 160 digital accounts, highlighting the need for a streamlined approach to estate planning.
Furthermore, many online platforms offer templates and resources that can help you understand the legal requirements in your state. This can be especially beneficial if you are unsure about what to include in your will or how to structure it correctly.
Steps to Create Your Online Will
1. Choose a Reputable Online Service
Start by selecting a reliable online estate planning service. Look for platforms that have positive reviews, transparent pricing, and a clear understanding of the legal requirements in your jurisdiction. Some services even offer customer support to assist you through the process.
It’s essential to ensure that the service you choose complies with your state’s laws regarding wills. This will help you avoid any potential legal issues down the line.
2. Gather Necessary Information
Before you begin the process, gather all relevant information. This includes details about your assets, debts, and any specific wishes you have regarding their distribution. Consider the following:
- Property ownership (real estate, vehicles, etc.)
- Bank accounts and investments
- Personal belongings of sentimental value
- Digital assets, including online accounts and cryptocurrencies
Additionally, think about who you would like to appoint as your executor, the person responsible for ensuring your wishes are carried out. You may also want to designate guardians for any minor children.
3. Complete the Will Template
Once you have chosen a service and gathered your information, you can begin filling out the will template. Most online platforms will guide you through each section, ensuring you include all necessary elements. Be clear and specific about your wishes to avoid any ambiguity.
As you complete the template, take your time to review each section. It’s crucial to ensure that your intentions are accurately reflected in the document. If you have any questions, many services offer FAQs or customer support to assist you. Learn more about 5 times when Compensation Lawyers Canberra can make or break your claim.
4. Review and Finalise Your Will
After completing the template, review your will thoroughly. This is your opportunity to make any necessary changes or corrections. Consider having a trusted friend or family member review it as well, as a fresh set of eyes can help catch any errors you might have missed.
Once you are satisfied with the document, follow the platform’s instructions for finalising your will. This may involve printing the document and signing it in the presence of witnesses, depending on your state’s requirements.
Storing Your Will Safely
Creating a will is only part of the process; storing it safely is equally important. Over half (52%) of adult children do not know where their parents store their estate documents. To avoid confusion, ensure that your loved ones know where to find your will and any other important documents.
Consider storing your will in a secure location, such as a safe deposit box or a fireproof safe at home. Additionally, inform your executor about the location of the will and any access codes they may need. This will help streamline the process for your loved ones when the time comes.
Updating Your Will Regularly
Your life circumstances can change, and so should your will. It’s advisable to review and update your will regularly, especially after significant life events such as marriage, divorce, the birth of a child, or the acquisition of new assets. Keeping your will current ensures that it accurately reflects your wishes.
Online estate planning tools often allow you to make updates easily. Many platforms encourage users to revisit their wills every few years or after major life changes. This proactive approach can save your family from potential disputes and confusion in the future.
Conclusion: The Peace of Mind You Deserve
Creating a legal online will is a straightforward process that can provide you and your loved ones with peace of mind. By taking the time to plan your estate, you can ensure that your wishes are fulfilled and that your family is spared unnecessary stress during a challenging time. With the rise of online estate planning tools, there’s no better time to take this important step. Don’t leave your legacy to chance-start your estate planning journey today.