If you’ve thought about creating a will, then you know just how important that legal document really is. Whether you’re young or old, rich or poor, a will is one of the most important pieces of paper you can have. If you have a family or are in retirement, drafting a will is even more important. Drafting a will can be costly, and lawyer’s fees can be through the roof. There has been an upward trend in using do-it-yourself legal services to create your own will. It’s important to explore all options before making this very important decision
Why is a Will Important?
A will essentially makes sure that your loved ones have access to your assets once you’re gone. Whether its property or actual money, creating a will assures that your wishes are carried out. Interestingly enough, many people who are near retirement age have not drafted a will. One important factor to keep in mind is that a will can be altered. Once a will is written, it can be changed or amended. Assets change, as do people’s wishes. There are hundreds of stories of wills that have not been updated to match the changes in the deceased life. It is extremely important to remember that unless a will is legally changed, whether through a lawyer or by doing it yourself, the original statements can be held up in court.
Benefits of a DIY Will
Clearly, one of the best benefits of a do-it-yourself will is the cost. You could easily spend several thousands of dollars in lawyer fees just to draft your will. If you ever need to make changes, those will also have associated fees. Many people don’t have that kind of money. Making alterations to a DIY will is also easier. Using online services with templates can help you through the process. Researching LegalZoom reviews on DIY wills can also help you through the process, and give tips on best practices.
Downfall of a DIY Will
While one of the benefits of a DIY will is the cost savings, you must also take into account that you get what you pay for. Using a template online or in a DIY will writing book may not have every legal angle taken care of in the same depth that a lawyer would. Everything from the wording you use to the specific signatures that are required can go awry. Don’t take it for granted that a less expensive version of the most important document in your life will have all of the information you need. Estate taxes are often overlooked when a lawyer isn’t involved. You also will want to make sure that your children are taken care of, especially if they are less than 18 years old. Many inexpensive legal services don’t take into account each state law governing children and their welfare.
While using a do-it-yourself legal book or an online service is a definite way to save some money when you create your will, it may not be the best for your situation. Be educated on what should be in your will before you make a decision.