Read online will maker's post today on why you should have a last will and testament

Why Last Will and Testament Is a Must-Have for Everyone

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According to the latest data, about 68% of Americans don’t have a last will and testament. This is a rather worrying fact considering the importance of this simple document. Of course, no one wants to think about death. However, as the COVID-19 pandemic has shown, tomorrow is never a guarantee.

What’s more important, this crisis showed how indiscriminate a tragedy can be. One usually thinks that you should worry about making a will and testament no earlier than 55. The pandemic shouldn’t have affected that, right? After all, it’s a well-known fact that the older generation is at a much higher risk with the coronavirus.

And yet, the COVID-19 pandemic’s death toll of young people is higher compared to any other disaster. This only goes to prove that while you shouldn’t dwell on dark thoughts, being prepared for every eventuality is a must.

Nowadays, creating a will is very easy and affordable you can do it in a few minutes with online will makers, some of which are free. Moreover, even the most affordable of these solutions will enable you to make changes to your online will whenever you need it. Therefore, there truly is no reason not to make a will. And there are quite a few very good reasons for doing it right away.

6 Reasons to Have a Last Will and Testament No Matter How Old You Are

Decide who will take care of your children and other dependents

If you have children or other dependents, you must make at least an online will. The sooner you do it the better because this is a high-priority matter. Should anything happen to you, this document will help your children avoid the horrors of the foster system.

Most importantly, if you want the custody of your children to go to someone except your direct next of kin, a last will and testament will facilitate the process greatly.

Note that you can also use the will to ensure the custody doesn’t go to some specific person.

Disinherit people if you need to

Inheritance laws are not always on your side and families are complicated. Therefore, you might want to use your last will and testament to exclude the people who should legally inherit your estate. This is your opportunity to disinherit those you feel shouldn’t have access to your assets and leave them to the people you truly care for.

In fact, the main purpose of the last will and testament is to ensure that all your worldly possessions go exactly where you want them to go. That’s why it’s so beneficial to use online will makers for drawing up this document. You can write a will on a napkin and it will be legal as long as it has relevant signatures.

However, this kind of document can be argued in court. An online will is straightforward but also designed by highly-qualified legal experts. Therefore, it shouldn’t contain any loopholes that can be exploited by people you want to exclude from the inheritance.

Help your loved ones avoid legal issues

Again, leaving a last will and testament takes care of the majority of legal matters. Even the probate period can be simplified with the help of this document. Therefore, it helps your loved ones to avoid adding more stress to what already is a trying time of grief.

Reduce your estate taxes

Estate Tax return

Depending on how you distribute your estate in the last will and testament, you might be able to reduce your estate taxes. This will happen if you give away some of the estate to charities, for example.

Name your will executor

If you want a specific person to be the executor of your estate, be sure to include this information in your online will. This will give the person a legal standing that will enable them to make sure your last wishes are fulfilled.

Be prepared for every eventuality

You can consider making an online will similar to including an emergency fund into your budget. Of course, you don’t want an emergency to happen and you take care to avoid risks. However, sometimes the circumstances are beyond our control. And if that happens, it’s only being prepared that will make a difference.

Making an online will is your way of being prepared for the greatest tragedy of all.

How to Save Money and Time Using Online Will Makers

Woman completing an online will

The actual cost of making a will through a lawyer is between $300 and $1000, on average. Therefore, you can definitely add using online will makers to the list of your personal money hacks. In addition to affordability, making an online will is also a very easy and quick process. With some of the services you can go from registration to having a complete legal document in about 30 minutes max.

Making an online will is a lot like completing a survey. You fill out a form answering questions that are written in plain English. There would be no complicated legal terms that you’ll need to spend hours researching. Once you are done providing information and filling out a template, you just save and print it out.

Note that these solutions differ and offer several options for saving your 100% legitimate will. You can keep it in an electronic form, print it out directly, or order a hard copy to be mailed to your home.

Moreover, online will makers have rather different templates. Therefore, you should study what exactly the solution can do to choose what meets your personal needs best. Also, note that some of these apps are fully online-based but others require you to download and install software. In that case, you’ll need to make sure that your computer is compatible with it.

Also, it’s important to remember that while online will makers are affordable and convenient, they are also straightforward. This means that you can use them to set up a simple will and testament, living trust, etc.

But if you have a complicated estate, for example with assets in several countries, the solution won’t be able to process it. Any non-linear estate management should be handled only with the help of an experienced attorney

Thanks to online will makers for this useful information about last will and testament in the US.