Each year, many people utilize the Internet to create their wills using do-it-yourself will kits. Apart from the ease and convenience provided by the said option, another reason why people opt for using will kits is the price. Many people are sensitive to the cost of creating their wills, thus they tend to be more open to cheaper and more cost-effective options and alternatives.
Understanding Will Kits
A will kit allows you to achieve the same goal as a will made with the assistance of a lawyer. Upon death, your wishes will be granted, such as:
- Having your assets and estate shared between your beneficiaries
- Leaving specific gifts to individuals
A will kit may also include the following details:
- Age that a minor should achieve to begin getting funds from a trust
- Name of the guardian who should take care of your children
Before creating your will through a will kit, it is of the essence that you know what it entails. Keep in mind that this is a legally binding document that can be presented in a court of law.
Therefore, it is crucial that you do your research and talk to your lawyer who should offer guidance on how to complete a will kit.
Advantages Of Using Will Kits
- Effectiveness
While this will depend on the unique circumstances of the person writing the will, many will kits are actually effective. Many law firms have will kits on their websites, which clients can quickly and efficiently fill out at a fraction of the cost of drafting a normal will.
- Quick Process
Another major benefit of using will kits is that they are fast. If there is an urgent need for the will, a will kit can be of great help. It is important to note, however, that it is still necessary to consult with a lawyer to ensure that you achieve the right outcome. This may require you to spend more time, but it is important to ensure that the will is made properly.
While the will kit is intended to make the process quick, this should not be a reason to rush things.
- Less Organization
For many people, there is a need for rigorous organization before they can finally make their will. This can prove overwhelming. Consequently, this often causes people to put off making the will and wait until the process is necessary. With will kits, however, the whole process is made simple. Note that there are many reasons why it is important to organize your will today.
- Peace Of Mind
A will kit can provide you with peace of mind knowing that after your death, your assets and property will be divided based on your wishes. Will kits are a great alternative for people who have simple requirements, as well as for those who do not wish to sit down with a lawyer to draft a will.
Other benefits of using will kits include:
- More convenient to make a will at the comfort of your own desk
- A great choice for people with a small estate requiring less complicated solutions
- Certain jurisdictions require witnesses to be present
- Make it much easier to update the will without cost
Who Should Use Will Kits
People who lead a simplistic life and have a small estate may be best suited to use a will kit. Other ideal situations includes
- Few beneficiaries who are easy to name
- No children
- Budget constraints exist
- Few assets are involved
Before creating your will using a will kit, make sure you are conversant with the steps involved in creating a will.
Who Should Not Use Will Kits
In spite of the many benefits of using will kits, it is important to note that they are unsuitable for certain situations, such as the following:
- If there are multiple properties in different countries or regions
- If there are foreign bank accounts
- If there are businesses involved
- If there is a chance of the will being contested in court
- If you have a mental illness that could cause the will to be contested in court
- If you want to disinherit certain individuals or children
Conclusion
Will kits offer a fast and reliable way to make your will, and sans the limitations of traditional wills. They can be the perfect option when trying to avoid the strenuous organization that is often a characteristic of traditional wills. And since they are just as effective, you can have peace of mind knowing that your property will be divided among your descendants accordingly.
