It’s a difficult topic to face. But regardless of how much you avoid it, everyone will pass away someday. Whether that occurs this year or many decades from now, you’ll want to ensure your family is cared for when you’re gone.
That’s where a will becomes useful. Still, estate planning is full of legal terms, witnesses and forms. It can feel pretty intimidating.
The good news: it doesn’t have to be complicated. You can prepare a legally enforceable will online and get some peace of mind. There are, however, a few things to keep in mind if you opt to use an online will builder.
The Importance of a Will
You’ll leave property behind when you die. That covers cash in bank accounts, the equity in your home and all the furniture, clothing, electronics and other possessions you’ve accumulated over time.
If you die without a will, courts will declare you died intestate. State laws dictate how assets are distributed, but your estate will likely go through probate. Without a will, court costs are paid from your estate, and it often ends up costing more than if you’d arranged affairs with an attorney while alive.
There’s an even more crucial reason to avoid dying intestate. Without a will, a court decides how to allocate your assets. Often that means your spouse and/or children receive everything. If you don’t have a spouse or kids, your parents will probably inherit your estate.
A will lets you specify who receives what, but drafting one takes time. If you need an inexpensive will quickly, an online will builder may be a sensible choice.
What Are Online Will Makers?
Not long ago, obtaining a will involved an appointment with an attorney. You paid either by the hour or a flat fee, and the lawyer ensured the will complied with local law.
Recently, online legal platforms have become mainstream. You can now produce a will online that’s as legally effective as one from a local attorney. That said, there are still important caveats.
“Make sure you follow all state requirements for a will to be valid, such as notarizations or signings with witnesses,” advised Bob Chitrathorn, CPFA® and CFO/vice president of wealth planning at Simplified Wealth Management.
3 Tips for Getting a Will Online
Although creating a will online is convenient, easy isn’t always synonymous with safe or legally sufficient. Before selecting an online will service, consider these precautions to protect yourself.
1. Make It Legal
Some people think scribbling their wishes on a sheet of paper is enough. While that can be true in rare circumstances, it’s a risky approach. If someone disputes the will or questions arise, a handwritten document that wasn’t witnessed or notarized can be overturned by a judge.
Each state sets its own rules for wills. In many places, a will must be signed in front of two witnesses, and some jurisdictions require notarization. Only a few states accept nuncupative wills—oral wills declared aloud rather than written. Even where oral wills are allowed, they must be made in front of witnesses.
2. Choose a Secure Provider
By the time your will is completed, you’ll have shared sensitive details. That includes names, birthdates, contact details and financial account information for you and possibly your partner. Such data is valuable to identity thieves and fraudsters. Even if you store your will in a secure place, if the service you used suffers a data breach, all that personal information could be exposed.
“Verify the company’s reputation by checking their data protection practices,” said Mitch Mitchell, associate counsel of estate planning at Trust & Will. “This information is usually available on their site. When you submit sensitive data online, you want assurance it’s kept confidential.”
3. Know Your Limitations
Making a will online also means you’re largely on your own. Software can’t fully replace the know-how of an attorney. Paying legal fees gets you personalized answers. Software, conversely, depends on your responses to questions, which can be problematic.
“The final document is based on your answers to various prompts,” Chitrathorn said. “Like tax programs, they ask questions and produce results from your inputs. If your answers are incorrect, you may receive an outcome you didn’t intend or that isn’t legally correct.”
3 Online Will Makers
Now that you understand how to make a will online, here are several services worth considering.
1. Rocket Lawyer
For affordability, Rocket Lawyer is a solid pick. You can produce a will for free, but there’s a caveat: you must enroll in the site’s seven-day trial to download the document. Alternatively, you can pay a one-time fee of $39.99 to access the file and edit it later.
Rocket Lawyer provides a template for creating your will. It doesn’t offer the guided questionnaire some competitors use, which can make it a bit less intuitive. If you subscribe for $39.99 per month, though, you gain access to attorneys who can answer legal questions—a significant advantage.
2. Trust & Will
While not as cheap as Rocket Lawyer, Trust & Will scores high for user-friendliness. It presents step-by-step questions that guide you through drafting your will. If you need support, the company offers multiple ways to get help.
As for cost, Trust & Will remains an affordable route to a legally valid estate document, and you can create a legally valid Will or Trust online in just minutes. Whether you need a basic will, a trust for extra protection, or guardianship paperwork for children, Trust & Will keeps the process straightforward. Plans begin at about $199 and include expert assistance throughout.
3. Quicken WillMaker
Published by legal content provider Nolo, Quicken WillMaker supplies estate planning documents for an annual subscription. Plans start around $99 per year and allow unlimited updates to your documents while your membership remains active.
This option distinguishes itself with state-specific wills. You’ll be prompted for your location, and your documents will be customized to local laws. Nolo maintains a team of attorneys who monitor regulations in each state to help ensure compliance.
Drafting a will online is a cost-effective alternative to visiting a local attorney. It’s wise to compare options and confirm you can get answers to any questions. Even if you do need extra legal assistance, many online legal platforms offer the guidance required without steep hourly charges.
If you want to explore quick, online solutions, check out dear penny make a will online and how to write a will for additional guidance.
Alex Monroe is a financial content specialist with over a decade of experience. His articles have appeared on numerous top personal finance sites and outlets.
