There are many ways to write your Will, that range in price, convenience and simplicity. DIY Will Kits and Online Wills are two of the more cost-effective options for personal estate planning.
What is a DIY Will Kit?
A DIY Will Kit is one of the more simple and cheap ways to write your Will. Often in paper form, the kit will guide you through a range of generic questions to appoint your Executor, divide your estate and name your beneficiaries.
Due to the nature of DIY Will kits, there is often little guidance or support available, which can result in an incomplete or non-legal Will.
This can lead to legal issues for your loved ones who may need to apply to the Court to validate the Will, which can be a long and expensive process.
What is an Online Will?
An online Will through a platform such as Willed is another cost-effective way to plan your estate. Willed is a digital platform that is backed by lawyers and allows users to create a custom, legally valid Will that covers key areas such as guardianship of dependants, dividing your estate and even donating to charity.
An online Will also makes it easy to update as your life changes. Rather than creating a new Will from scratch, you can simply update the Will online, print it out and get it signed.
Willed also allows for video messages to be stored in a secure location online, to be distributed upon your passing to your loved ones.
Writing a Will is a key part of planning for your future, and it is important to find a solution that best fits your needs and wishes.
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