More often than not, most people think they don’t need a Will. With an online Will kit, excuses that might have held up not to make one don’t work anymore. When considering making a Will, it’s crucial to think about it as a document that will dictate your belongings’ distribution when you die.
Whether it’s your beloved sweater from high school or a pet, your things matter and where they go once you pass should be important to you even if you don’t have assets at the moment to hand over to your loved ones.
While making a Will at one time might have been complicated and expensive, they’re now more accessible, with platforms like Willed giving you easy access to setting up an online Will. In this post, we uncover what an online will is, what they usually include and the benefits of preparing one.
What is an Online will kit?
An Online will kit is a cost-effective and straightforward way to plan your Will. They allow you to turn estate planning instructions that you would typically leave in a physical Will directly into a digital portal. The digital Will can then be downloaded and printed for you to have signed by witnesses of your choice to validate the Will.
What do you include?
Using a platform like Willed, you can create your will in less than 15 minutes using a simple step-by-step guide online. The Will is then stored, and when you’re done updating all components, you can print it and have it signed.
Here are a few things that you would typically include:
- Information about your partner and children. You need to provide any information about your partner, whether married or De Facto, and if your children are under 18 years old, you should appoint a guardian.
- Appoint your executors. The executor is the person appointed by you to carry out your wishes after you pass away. The role of an executor is demanding, so it’s important to select this person carefully.
- Leave gifts known as legacies. You can gift friends or family items from your estate.
- Divide your residual estate. Allocate your estate to your nominated beneficiaries. This can be one person.
- Final wishes. Include your last wishes, including funeral arrangements and whether or no you’d like to be buried or cremated.
- Get it checked by a Will expert. Once it’s done, you can send it to Willed to have it reviewed at no extra cost.
What are the Benefits of an Online will kit?
An Online Will kit is a cost-effective way to plan your estate. With Willed, our online Will kits are backed by lawyers and are legally valid. It’s important to ensure that when you’re creating an Online will, that the source is trusted and adheres to the correct protocol of building a Will. There are a few benefits to making an Online Will.
They’re easy to update.
Life changes quickly, and that means that your Will can quickly need updates as well. With a physical Will, making changes may require a codicil, making things complicated and messy. Building an online Will gives you easy access to make updates as your life changes. When your ready to finalise those changes, you simply print the new version and have it signed by your chosen witnesses.
They allow for video messages to be stored.
Given online Will kits use the power of technology, it’s no wonder they can include exciting new features that add a whole new dimension to creating a Will. With Willed, you can include videos and store them in a secure database that can then be distributed to your loved ones when the time comes.
Historically, building and creating a Will was always associated with lawyers and old age. Now, with online Will kits, younger generations can protect themselves and their loved ones without the overhead of legal fees. Preparing a Will is a vital part of planning your future, so don’t let cost be why you don’t take this necessary step.
Reviewed by Wills & estate experts.
Depending on the resource you use to build your Online will kit, there’s typically a resource available to have it reviewed by a Will and estate expert to make sure you’ve filled everything correctly. No matter how you create your Will, it’s always important to make it done correctly and legally binding.
Creating a Will doesn’t need to be scary. It’s a necessary part of planning for your future, and by taking this step, you can better protect yourself and your loved ones. Learn more about how an online Will kit works with Willed.
Disclaimer: The content of this blog is intended to provide a general guide to the subject matter. This blog should not be relied upon as legal, financial, accounting or tax advice.