Making your will is one of the most important decisions you will make. It has the power to settle disputes that may arise in the future concerning your property. Online wills are as valid as traditional wills.
The beauty of online wills is that they’re simple to make. Most will cover only the basics and the forms provided come with instructions and also definitions for difficult terms.
If you don’t have complicated issues involving an attorney, then you can write your will in about one hour.
So, how do you make a will online? Let’s show you how it’s done in this quick guide.
Name Your Executor
Choose an executor who is trustworthy and has good judgment. A close friend or relative is sufficient. Most people name their executors from among the list of their beneficiaries.
If you can’t find a trustworthy person among your friends or relatives, banks also serve as executors but they charge a fee.
It’s also worth naming a second executor in case a calamity befalls the first one. While at it, make sure you discuss with both executors how they will carry out their duties.
If you don’t name an executor, the court will find a willing relative or appoint an administrator to be the executor. Therefore, it’s best for everyone if you handpick your executor.
List Your Property
There are several properties and assets you can include in your will:
- Land and real estate
- Money in savings accounts
- Intellectual property like copyrights
- Stocks, bonds, and other business ownership
- Personal items like valuable jewelry, artwork, etc.
Making a list before you designate property ensures you don’t leave anything out. Include the location of the property and the organization holding it.
Describe your property in detail so that your executor won’t be confused. For example, if you have two pianos with beneficiaries, state each piano’s details and who will inherit which.
Even if you don’t have much property, it’s good to name beneficiaries so your property won’t end up with strangers. Be specific and describe your beneficiaries individually. This is important if several people in your extended family share the same name.
Name secondary beneficiaries who will inherit the property if a primary beneficiary rejects the property or dies.
It’s worth pointing out that you cannot name pets as your beneficiaries. However, you can leave a sum of money in a trust for your pet and assign a trustee to oversee how your pet’s funds will be used.
Identify Children’s Guardians
Select more than one guardian in case the first choice does not work out. Choose a person with good parenting skills, preferably one you’ve witnessed their parenting skills.
Consider the guardian’s stage of life. For example, they’re probably focused on building their career if they’re too young. And if they’re much older, they may not be enthusiastic about parenting again.
Before you list someone as your children’s guardian, talk it through with them and find out if they’re up for the task so that it doesn’t surprise them when you’re gone.
State Specific Wishes for Your Burial
Let your family know your burial and funeral wishes, so they are not left wondering if they carried out your funeral the way you desired.
You can include information such as:
- Whether you have money set aside for your funeral and where they can find it.
- Whether they should cremate or bury you.
- Whether you want a funeral or a memorial service.
- Where you wish to be cremated or buried and whether your ashes should be kept or disposed of.
Specify who will be in charge of your funeral arrangements. You can choose someone close to you or let the executor arrange it.
Keep Your Will in a Secure Place
When you finish filling out the form, an attorney will be available online to review it. You can then print out the document and keep it in a safe in your house or the bank but inform the executor where your will and other documents are.
You can come again to make changes when situations in your life change. Such situations include acquiring new property or welcoming a new child.
Online Wills Are Easier To Make Than You Can Imagine
An online will can take you less than two hours to fill out. It’s an ideal option if you don’t have a lot of property or you don’t have complex circumstances like taking care of people with special needs.
You need to include details such as your property, beneficiaries, children’s guardians, and details you want to be included during your funeral and burial.
We would love to hear your feedback on online wills in the comments below.