Realistically speaking, dealing with an impending death can be frustrating. But no matter what you do, it remains an unavoidable part of your life—as such, planning what you can leave behind for your loved ones to ensure their financial future after you pass away is essential. This is where drafting a will enters the picture.
By definition, a will is a legal document that outlines what you want to happen with your estate at the time of your death. It’s used to express your wishes about who will manage your assets and properties and who will get what. However, like other legal documents, making a will can be overwhelming if you don’t know what to do from the beginning. Fortunately, there are ways to make the process much easier and faster. One of them is using a will kit.
Continue reading this article to learn about a will kit and its benefits.
What Is A Will Kit?
A will kit is a fill-in-the-blank online- and paper-based document used to create a last will and testament. It enables you to provide essential information about your estate. These can include information about you and your properties, the name of your executor, and persons who will inherit a particular property.
Moreover, like the traditional way of drafting a will, a will kit must also comply with the formalities required by your state law. Otherwise, the court will render it invalid. Hence, before making your will, it’s essential to get familiar with the estate planning laws in your area.
How Can You Benefit From A Will Kit?
Now that you know what a will kit is, it’s time to understand how it can benefit you in the long run. Typically, using a will kit has many advantages, which include the following:
It Helps You Save Money On Attorney’s Fees
Drafting a will can be costly if you need to hire a lawyer for assistance. In some cases, working with a legal professional can cost you a considerable amount of attorney’s fees, especially if you don’t know how to write a will and your estate situation is complicated.
Luckily, things like these don’t need to happen with a will kit. As long as you’ve filled it in with the correct information and observed the formalities required by law, you don’t have to pay for a lawyer to create a valid will.
It Allows You To Make The Necessary Changes Right Away
Most will kits are readily available online, so you can easily access and fill out the document whenever you want. So, when your life circumstances change quickly, using a will kit can benefit your situation.
Unlike a physical will, an online will kit allows you to make the necessary modifications without creating a codicil. This supplement document modifies or explains certain parts of the will.
It’s Available Anytime
Another significant benefit of using a will kit is that it’s available anytime, and the service is fast. So, for example, if you’re in an urgent situation where you need to draft a will, this fill-in-the-blank document can promptly provide you with excellent results.
Instead of waiting for your lawyer to draft the will for you, you can use the kit to finalize your wishes regarding your estate as quickly as possible. When this happens, you can have your will ready at the time of your death. This will save your family time and money that would otherwise be wasted figuring out how to administer and distribute your estate to your designated beneficiaries and dealing with probate.
It Helps Reduce Errors
Using a will kit can be an excellent option if you don’t have many assets. However, since most of the necessary provisions are laid down in the document, it’s less likely that anything will be misconfigured, thereby minimizing the risks of errors.
Compared to writing a will on your own, using a will kit doesn’t require you to draft the legal document from scratch. Instead, the template is premade, which is why you’ll only provide the information about your properties, your executor, and the people who will inherit your estate. In that case, you can guarantee a more favorable outcome later on.
When it comes to estate planning, a will is one of the essential legal documents you should prepare before you pass away. With it in place, you can ensure your wishes are executed accordingly and keep your loved ones from fighting over your possessions by designating your properties to specific individuals.
Therefore, if you’re planning to create a will anytime soon, keep the information mentioned above to know why you should use a will kit for the process. Unlike the traditional way of drafting a will, using a will kit can be less costly, accessible, help you minimize errors, and allow you to make changes as quickly as possible.
Interesting Related Article: “Important Things About Estate Planning for High Net Worth Families“