What do you need to know about software for Wills?
If you’re reading this article, you’re probably thinking about creating a Will, and you may be weighing your options. There are different ways to create your Will: you can use a DIY Will kit from a store, a hand-written Will, or you can use online Will software. Creating a Will may appear daunting at first, and you may not know how to go through the entire process. But once you choose the best option to create your Will, it becomes easier.
The basics of a Will encompass the following: all of things in your estate (any property, savings, investments, charities, gifts, etc.), specific gifts you are leaving behind to various individuals of your choosing, guardianship, leaving items in trust, and any charitable donations you may want to leave behind. Those are the types of things you want to think about while creating a Will. Drafting a Will includes the following information about you: your Executor and your relationship to the person (the Executor distributes your assets to your beneficiaries), a Guardian for any underage children, and if you want a Trust for said underage children. For instance, if you bequeath a house or a cottage to your spouse, who would inherit that piece of property if your spouse dies and you are not around?
When it comes to online Wills, it’s an inexpensive alternative to using a lawyer, who may charge hundreds (or potentially more) to draft up your Will. There are options to assist you with Will creation, but you want to make sure that the software you are thinking of using is comprehensive and fits your needs. You may want to first start by writing a list of items you own (your inventory list). Once that is complete, you may want to look at what type of software you’re looking to get: are you looking to get a CD-ROM do-it-yourself Will kit, or use an online software? Either choice may work for you, but keep in mind that the first option may be outdated. It is not unusual for people to complain that the CD-rom Will software they purchased is outdated for their operating system. An online type of software for Wills, on the other hand, is easier to update. If you use online software, you have a better chance of having a Will that is current.
If the software you have chosen is entirely online, you can usually test it out to see if it works for you. You may either have to create an online account (you can usually do this for free), or you can just jump right into the online Will order form. Creating an account may keep the information more secure. You will want to use a software that is more comprehensive than a simplistic blank-fill-in-the-form template; it should guide you through the process of creating a Will online. For instance, the online Will order form should explain legal terminology, guide you through the process of creating a Will (e.g. explaining the order of how things need to be filled out), help you through the important questions to answer (i.e. personal information, information about your Executor, the beneficiaries of your estate, specific gifts you are leaving behind, charitable donations, Guardian(s), and if you would like to setup any trusts for said underage children.
All of this shows that you may want to use inexpensive software to create your Will if you want a comprehensive document. If you want legal advice, you may want to seek out a lawyer to draft up your Will. However, using a software for Wills may be best if you have a straightforward situation. If you’re looking for an option to create a will online, you may want to try FormalWill.