A Will or Testament is a legal document that expresses a person’s wishes as to how their property is to be distributed after their death and who should manage it until the final distribution.
You must be knowing why it is important to make a Will and how to make one. Through a Will, you can make sure your family members are taken care of, after your death, as well as make sure your property is distributed as per your wish.
Traditionally, Wills are written with the help of a lawyer. An Online Will service allows you to generate a legally binding Will within the comforts of your home. Creating an Online Will can also save you some money (read: attorney fees).
An Online Will is a do-it-yourself approach in making sure your Estate is in order and your family members are taken care of should you pass away.
What is an Online Will?
An Online Will functions the same way as a Traditional Will drafted by a lawyer. The difference between an Online Will and a Traditional Will is, the former is generated without the help of a legal professional. Having said that, many Online Will services do provide some guidance on how to draft a Will on your own.
Most Online Will services ask for these details while creating a Will for you:
- List of assets
- The person you would like to act as guardian for your minor-aged children
- Who will be the Executor of your Estate
Make sure you take all your documents into consideration while creating an Online Will. This includes life insurance, retirement planning and bank accounts. These are important while putting together a list of beneficiaries to whom your assets will be passed on to after your demise.
As long as your Will is put together properly and is compliant with your state’s laws, it is considered as a legal and valid document.
Also, a well-prepared Will should clearly state that the person creating it is of sound mind and intends to bestow their assets. Along with the signature of the individual whose assets are to be distributed after death, a Will must also contain signatures of two witnesses who do not have any stake in the Will.
Who should create an Online Will?
Online Wills are easy to create and can be done from the comfort of your homes without having to make multiple visits to an attorney. Doing a Will on your own is faster as well as cheaper than going to an attorney.
However, Online Wills are not for everybody. If you have a fairly basic Estate Planning needs with no family or any other complications, you can choose to do a Will online.
If your situation is complex – divorced or separated, have stepchildren, own multiple properties or a fairly large Estate, then you might want to take the help of an attorney while drafting a Will. The same goes for business owners who want to pass on their business through a Will.
What to do after creating an Online Will?
An Online Will doesn’t always need to be notarized as long as it is prepared taking your state’s laws into consideration. However, some witnesses may choose to provide a self-proving affidavit which verifies they did witness signing the Will. This aforementioned document needs notarization.
After finalizing your Will, make sure you keep it in a safe place. You can either store it in your safety deposit box or choose an online storage vault. Clocr provides an ultra-secure Digital Vault that safeguards all your important Estate Planning documents.
Sign up with Clocr today and get all the help you need in safeguarding your important documents. Clocr also has provisions to create an Online Will exclusively for your Digital Assets. This ensures your Digital Assets are safely handled after you’re gone.