Is an e-will right for you?

Is an e-will right for you?

| Apr 26, 2021 | Estate Planning |

Residents of Washington, D.C., and other states are taking advantage of electronic wills. Also termed e-wills or digital wills, these documents are constructed and signed online so that they can be easily changed by the grantor or accessed by family members of the deceased. If it’s time to construct or update your will, you may be wondering what the pros and cons are to an electronic will.

The pros of electronic wills

Making an estate plan traditionally seemed overwhelming due to having to formally visit with an attorney and sign bundles of paperwork. Electronic wills are providing a new outlet that allows people to create a will from the comfort of their own home without any of the stress of a formal event. In addition, e-wills are very simple to store, easy to update at any given moment and able to be shared with a few clicks of a button.

The cons of electronic wills

The one major con associated with electronic wills is that not all states currently recognize them as legal. It’s a good idea to check with an attorney in your local state to determine whether or not e-wills are considered valid before you get started making one. In addition, you’ll need to think about estate law if you end up moving to a different state later on down the road.

It’s important to note that constructing a will online is more prone to error than having a traditional lawyer make one. When you have a lawyer create your will, their knowledge and experience will ensure that everything is appropriately written out. Also, a lawyer may remind you to cover the various types of assets you have so that you don’t forget to put any of them in your will. These are benefits that you will not have if you formulate a will electronically by yourself.

While e-wills are becoming a more convenient option for many people who want to construct a will, they do have some drawbacks. It’s important to understand both the pros and cons of e-wills before you decide whether one is right for you. If you need assistance with creating a will, it’s advisable that you speak to an attorney to ensure that it’s done correctly.