What happens to your belongings ifyou die unexpectedly?
Its a tough topic to tackle.
But no matter how hard you ignore it, well all die someday.
Let’s face it: We should all have an estate plan in place.Trust & Willmakes it fast and easy to create a legally valid will or trust online.
Thats where a will can help.
But estate planning involves legalese and witnesses and paperwork.
It can all get very overwhelming.
The good news is, it doesnt have to be.
it’s possible for you to easily draft a legally binding will online and sleep better at night.
However, there are some things to be aware of if you plan to use an online will maker.
The Importance of a Will
Youll leave assets behind when you die.
If you die without a will, youll be classified by the courts as havingdied intestate.
Local laws govern how assets are handled, but your estate will likely enter a phase known as probate.
But theres a more important reason to avoid dying intestate.
Without a will, your assets will be distributed by the court.
In many cases, that means your spouse and/or children will inherit everything.
If you dont have a spouse and children, your parents will likely inherit your belongings.
A will gives you control over who gets what, but it does take time to create.
What Are Online Will Makers?
At one time, getting a will meant sitting down with an attorney.
But in recent years, online legal services have gone mainstream.
you could easily create a will online thats as legally sound as one youd get from a local attorney.
However, there are still some caveats.
Before you choose an online will maker, here are some tips to help keep you protected.
While thats technically true, its a risky way to go.
Each state has its own set of regulations when it comes to wills.
Even where oral wills are legal, youll need to state your wishes in front of witnesses.
Choose a Secure Provider
By the time your will is ready, youll have provided a wealth of information.
That includes the names, birthdates, contact information and financial accounts of you and/or your spouse.
This key in of information can be a goldmine for an identity thief looking to commit fraud.
This should be easy to find on their website.
When youre sharing sensitive information online, you want to ensure that data is kept private.
Know Your Limitations
Creating a will online also means youre pretty much on your own.
One thing software cant replace is the expertise of an attorney.
Those billable hours buy you answers to any questions you have.
Software, on the other hand, relies onyouto answer the questions, and that can be a problem.
The end product is based on your answers to the various questions, Chitrathorn said.
Like tax software, they ask you questions and results are based on your answers.
Can You Survive 10 Days of Budgeting?
If you should probably wrangle your budget, it may be time to consider a savings challenge.
Rocket Lawyer
When it comes to affordability, you cant go wrong withRocket Lawyer.
you’ve got the option to make a will for free, but theres a catch.
Youll have to sign up for the sites seven-day trial to download the document.
With Rocket Lawyer, you get a template to help you make your will.
Youll get step-by-step questions that guide you through creating your will.
If you need help, you could contact support through a variety of methods.
As for price, Trust & Will is still a great place to get a cheap will online.
This option stands out for its state-specific wills.
Youll be prompted to input your geographic information, and your documents will be tailored to your local laws.
Creating a will online is an affordable alternative to relying on a local attorney.
But its important to shop around and double-check youre getting answers to all your questions.
Drowning in Expenses?
Maybe youre scrambling after your car broke down.
Or you got a medical bill you werent expecting.
Or inflation has finally pushed your budget over the edge.
You dont need to go it alone.
When money is tight,these resourcescan help you manage unexpected expenses without stress.
Stephanie Faris is a professional finance writer with more than a decade of experience.
