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Pros and Cons of Online Wills vs. Attorney Assistance
Cost-Effective Option: Online Wills
When considering whether online wills are good enough, one of the main benefits is the cost-effectiveness. Online wills are typically much cheaper than hiring an attorney to assist with the process.
Convenience and Accessibility: Online Wills
Creating a will online is a convenient option for individuals who may not have the time or ability to meet with an attorney in person. Online will services are accessible 24/7, allowing you to create or update your will at your own pace.
Legal Expertise and Personalized Advice: Attorney Assistance
While online wills can be a convenient option, they may not provide the same level of legal expertise and personalized advice that an attorney can offer. Attorneys can help you navigate the complexities of estate planning and ensure that your will is legally valid.
Customization and Complex Situations: Attorney Assistance
If you have a complex family situation or unique assets that need to be included in your will, an attorney can provide the customization necessary to address these specific needs. Online wills may not be suitable for these more intricate scenarios.
Legal Validity and Peace of Mind: Attorney Assistance
One of the main concerns with online wills is ensuring that they comply with state laws and are legally valid. By working with an attorney, you can have peace of mind knowing that your will meets all legal requirements and will be upheld in probate court.
In conclusion, both online wills and attorney assistance have their advantages and disadvantages. For simple estate planning needs, an online will may be a cost-effective and convenient option. However, for more complex situations or to ensure legal validity, seeking the assistance of an attorney is recommended. It ultimately depends on your individual circumstances and preferences when choosing the best option for creating a will.
if you are single and your worldly possessions fit inside a gym bag, sure, go for it.
divorced with one kid, then remarried with two more kids, business, investments, extended family that you are helping out with…no, you need a lawyer.
It depends on if your state accepts them but they’re very convenient if your will is simple or the person is ill or has difficulty going in office.
Typically, they have to be witnessed by two people who have nothing to gain if you die (they’re not in the will) and not a family member, and you have to sign in front of a notary to get it notarized.
But yes, legally it should hold up.
Don’t forget to name a backup executor (or more than one). It’s not a fun job and nobody is required to do it.
I think they work if you don’t have kids. Otherwise they can be easily contested.
I am single with no dependants with a net worth (life insurance DIScluded) of around $150k. I named 7 beneficiaries throughout my assets in my will.
I have 2 cars, a halfway paid off house, 401k, 2 Roths, a brokerage, a credit union account, 2 checking, a savings account, and another ~$10-15k in random assets (tools, notable house fixens, whatever).
All that to say, I used an online will. Many of my higher dollar assets (life insurance, 401k, IRAs, and brokerage account) required their own beneficiary within the account to avoid probate regardless of will in my state from what I understand.
Unless you’re intentionally leaving people out of you will, especially if they’re considered close heirs, or you have a situation where you’re considering a trust, I think more people can do an online will than can’t.
What makes you think you’d need to go to an attorney?