What is a Will Kit?
You know about the importance of a Legal Will. You put off thinking about completing your Will, believing that it is something you need to think about later. Or you may also put off drafting a Last Will and Testament because it is too complex and you just do not have the time (or do not want) to think about it.
A simple explanation of a Last Will and Testament is that it is a legal document directing where all of your assets (gifts, charitable donations, etc.) go when you die. Your assets could go to specific individuals or to various organizations, such as charities. While this is a necessary and important document to have, it is estimated that at least 50% of adults do not have one. There are a number of reasons as to why people may not have one, such as: the time it takes to see a lawyer, the cost of seeing a lawyer, or just procrastination. Money and time are often huge factors in putting off a Last Will and Testament. There are, however, inexpensive alternatives to seeing a lawyer. These options include: a) an online Will, b) a holographic Will, or c) a Will kit.
We have previously written about the advantages of creating an online Legal Will; an online Legal Will provides you with the advantage of creating a document through Will software, which is a cheaper and less time consuming alternative to seeing a lawyer. The option to use online Wills are recommended if you do not have a complex estate. It is a preferable method to using a holographic, hand-written Will. An online Will uses technology that guides you through the process the process of creating a Will and reminds you of the important things to include in your Will. If you draw up a hand-written Last Will and Testament, chances are that you will be leaving out many legal issues that need to be addressed.
What is the difference between an Online Will and a Will kit?
So you might ask yourself, what is the difference between an online Will and option c, a Will kit? A Will kit is just that, it is usually a “kit” that you can purchase through a store, and it consists of papers to guide you through the process of creating a Last Will and Testament. The difficulty is that, unlike using online Wills or Will software, a Will kit may not be up to date and additionally, it does not have the benefit of technology that guides you through the process.
It is always best to have a guide through the process of creating a Will.