Best Online Will Maker
In the unfortunate event of your death, do you know what will happen to your estate and children? Read more to find out everything you need to know about making an online will.
At a certain point in your life or under certain circumstances, you may become concerned with creating a will. This is a legally binding document detailing your final wishes if you pass away. It ensures that your estate, funds, belongings, and other assets are given to the proper people and other affairs are taken care of. Since this is such a significant document, it is important to know why you should make a will, why an online will may be preferable, when you should make a will, how much it costs to make an online will, and the best online will makers.
Why Should You Make a Will?
A will can offer numerous advantages to your friends, loved ones, and yourself. A few of the most common benefits include:
You choose how your estate is divided: If you pass away without a will, it is commonplace that your family will have the responsibility to divide up your property and other assets. There is no guarantee that your family will follow any spoken wishes. It may even end up in an estate battle that continues for many years. By creating a will clearly stating your wishes, these consequences are avoided.
You decide who takes care of your children: When you have children under the age of 18, it can be difficult to think about unfortunate events such as your potential passing. However, it is important to appoint people who you would wish to raise your children lest this decision be left to the court and your family.
You pick your executor: When you pass away, your executor will make sure all your estate affairs are in proper order. For instance, they will pay off bills, cancel services, notify the appropriate services and institutions of your death, and make sure your family and friends are aware of your death and any funeral arrangements.
You can disinherit people: If you would like to ensure individuals do not receive a portion of your estate, you can clearly state it in your will.
Why Is an Online Will Preferrable?
Creating an online will may be preferable over a traditional will for several reasons, such as:
Speed: While a traditional will can take months to draw up, it only takes 15-30 minutes to draft an online will.
Cost: An online will is quite inexpensive, starting at around $20. Yet, when you draft and notarize a traditional will, you could spend a few hundred dollars to a couple thousand dollars on the complexity of your estate.
Convenience: For most individuals, going through the process of creating a traditional will can be intimidating. They may not have the motivation to carry through the process, especially if they are young. However, creating an online will can be quick and easy.
When Should You Make A Will?
You can create a will:
When you turn 18: In most states, you can create a will when you turn 18.
When you have assets: If you have money, property, belongings, or other assets you would like to direct in case of death, you can show this in your will.
When you get married or divorced: When you get married or when get divorced, you should write or rewrite your will.
When you have children: If you die and your children are under the age of 18, your children will be assigned to a guardian by the court. If you wish this to be your own decision, you should create a will.
When you buy a home or business: A home or business will make a great difference in your estate. If you wish to decide how these assets are split up, you should create a will.
How Much Does an Online Will Cost?
Depending on the website you create your will with you may pay between $20 and $100 for an online will. If your will is more complex, or if you would like to have lawyers look it over and add more legal documents to your will, you may pay a higher amount in the long term.
It is also advantageous to know many companies will also perform free consultations and provide quotes in advance. In this case, you will answer a series of questions about your relationships, family, and assets, and how you would wish to direct your assets. They will then draw up a quote that details how to fill out the will, what other documents you may need, and the cost for the online service.
Best Online Will Makers
Price: Starts at $39.95
US Legal Wills is one of the most affordable online will makers. The platform works with American lawyers to create legal wills, store documents on the server, and allow certain people access to these documents. You can even hire a lawyer to review your estate plan for an additional fee.
Price: Starts at $159
With an interview-type style, Trust & Will allows you to fill out a will easily. They will even mail your completed will for free, and provide simply instructions on how to make it legally binding.
Do Your Own Will is one of the best free online will makers. On this platform, you can find important documents such as guardianship forms, power of attorney forms, and wills. Particularly, this resource stands out from others because it is always free. Conversely, other free online will makers may only offer a free trial.
Price: Starting at $39.99
With Rocket Lawyer, you can access many estate planning documents for a low monthly fee. One of the best parts about an ongoing subscription is that you can make changes whenever you like. For instance, if you want to take your time creating and updating your will, or if you are going through major life changes in the next few years, this online will maker is ideal.
Price: Starting at $19.95
Total Legal is another cost-effective website, starting at only $19.95 to create a will. You may also benefit from their yearly subscription plan, which is only $89. During this subscription period, you can receive free consults, lawyer reviews, and free updates to your will.