Do’s and Don’ts of Making your Online Wills

Anyone who chooses to create an online must understand the dos and don’ts. What items can you freely include in your Will, and what can you not put in there? At the same time, creating an online will requires that you consider all your assets, both physical and digital ones. But can you include all types of property in a will or testament? If not, what kinds of property are invalid for a will?

Before we get to that point, how much of a real estate property value do you know? Do you know some of your properties that should not make it into your Will? While creating online wills, you should focus on what the process of creating an online will is like. At the same time, you may encounter vital questions that beg for answers in developing and implementing these principles. 

Items to include in your Online Wills

The primary essence of creating a will is to allow you to declare all your assets and what happens at your passing. Your Will or testament is the tool that will put out any possibility of dispute in this case at your demise. At the same time, it designates who gets what property or possession goes to which member of your family or beneficiary gets what. For instance, if you have a grand piano as a possession, and a niece has shown an interest in the property.

You can make up your mind to pass it to the niece who loves it whenever you pass away. Such as possession or planned action should be included as part of your Will. Below are some other items that you can use inside your online Wills. 

  1. Your basic personal information, including full name, phone number, date of birth and personal details.
  2. The legal language that shows your testamentary intent 
  3. An appointed executor who will be in charge of your Will after your departure
  4. The list of the properties you own and the assigned beneficiaries to each of them, including any exception 

In preparing your documents, you may want to spend some time to educate yourself before advancing to conclude and validate your Will. We can also show you some of the ways to prepare the Wills and how to ensure your checklist is complete. In the fourth point above, we stated that although you should include all your landed properties and the rest inside your Will, there are certain exceptions. In the next section, we will consider those exceptions closely. What items or properties should not find their way into your Will or testament?

What you should never include in your Will

You have specific items to include in your Will, but you also have properties that should not enter therein. The overall principle of having a will is to ensure that your legacy and possessions are preserved after you may have left the scene. Otherwise, a man’s death could bring severe legal and legal conflicts and disputes. Below are some items you should not bother to include in your Will, whether an online or a traditional will.

  1. Business interests, which are not investments but the prospects in your plan
  2. Personal wishes and desires that you are yet to receive or possess. Even if you eventually got some of them, but you did not update your Will, it cannot be listed in the last Wills as a property you possess 
  3. Your coverage for any beneficiary with special needs
  4. Properties that you would not like to go through the process of probate
  5. Other specific types of property that you so wish

As for specific types of properties that you should not include in your Will or testament, there is more to that. Let us look closely at this last option.

Do's and Don'ts of Making your Online Will

The types of property not to include in your online Will

When you hear the term ‘will’, you subtly assume that you should include just about everything and anything you possess. But there is a technical side regarding value, significance, sharing and ownership of your legacy. We are not also talking about hiding these properties from your loved ones. Instead, following this way may leave out more benefits to your beneficiaries and will spare them any headaches after your demise. 

We are not suggesting you leave an entire estate without a plan to transfer ownership. Instead, we are saying that you may need to make other special arrangements not included directly in your Will. Some of the workable deals in this regard include the following;

  1. Holding a property within a trust
  2. Property held with the specific beneficiary designations
  3. Jointly owned properties and assets
  4. Gifts with specific conditions and special instructions to adhere to
  5. Properties to be left to a pet

How to leave real estate property an online will

There is some basic information you need to learn when it comes to handling a real estate property in an online will. For instance, if there is a case of leaving the property for a beneficiary, you should be clear about the property description and the details of the beneficiary as well. You have created clarity for the family members and other stakeholders not to argue or dispute such property due to ambiguity. 

However, that step does not imply that the real estate property will not still pass through the necessary probate process. The only way to avoid the probate process for a property is to place it under a trust. In this case, it already defines without another verification that the property now belongs to the beneficiary. Others may insist on probate to verify the process. On the other hand, creating trust can come with some complications and may also prove more expensive. 

The following information is essential if you want to bequeath your real estate property as part of your Will or testament.

  1. The full name of your beneficiary or the heir
  2. The full address of the beneficiary or heir
  3. The intention you have to bequeath that property to the said heir
  4. A complete legal description of the property as stated on the title deed

More to read: How to file your properties into an will online without a lawyer

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How to file your properties into an will online without a lawyer

It may be shocking to discover that you don’t even need a lawyer to draft your own will. There are many ways to create an online will and still validate it as if a lawyer wrote it.

This article will discuss how to factor all your properties into an will online without sitting with a lawyer to do it. Recent statistics show that about 52% of Australian adults still live without a will to their name. Each of these people comes up with one or two excuses. The common excuses we find include

  • Not getting around to it yet
  • Not having quite enough assets to share and go around everyone
  • A will is usually too expensive to work on
  • Not having an idea of how to create one with ease

Even for those who don’t admit to one of the above reasons, their reason is usually not far-fetched. Others may even sit on a perceived barrier of cost without knowing exactly how much it costs. Moreover, comparing the cost of losing your properties after death to what you need to set aside to make a good property allocation plan is still very reasonable. Whether your reason for not having a will is the difficulty, cost or lack of access, we can help you.

See Also: How to Write your DIY Online Will without a Lawyer

How to file your properties into an online will without a lawyer

A Step-by-Step Guide to creating an Will Online without a Lawyer

Below is a guide on how you can create an will online without the services of a lawyer. Depending on your service provider, some of these steps can vary from one Service Company to another. However, it will still retain the essential components of a typical will, whether you create an online copy or use the traditional method with an attorney. Moreover, you can save yourself and your family from stress as you prepare.

Step 1: Create a List of all your Assets

When you need to make an will online, the first step is to make a list of all the assets you remember. None of your assets must be left out of the will, including the projected ones. For instance, you can begin with your financial support, including liquid and non-liquid cash assets such as stocks and bonds. Other assets may include your personal belongings, inherited properties, family heirlooms, tangible property assets and anything you remember.

Below are some essential assets you should include in your list if you hope to secure them for future generations after you depart. 

  • The real estate, including landed properties, whether developed or not
  • Checks, savings, money market accounts and every other valuable account, including debts
  • Retirement accounts, Stocks, and Bonds
  • Digital assets, including cryptocurrencies 
  • Cars, jewellery, artwork and other sentimental assets you may have
  • Business investments, business assets, and intellectual properties, including royalties

Step 2: All essential languages

Your will online should also take care of all legal languages that may matter going forward, especially those you acquired for professional reasons. The outcome of this step is to prepare some resulting document titled “the last will“, written in your name. In addition, it does not matter if you have to edit the will later; until then, the one you have completed is still called the testament. 

In addition to the title and the testator’s name, the will online should also state that you are in a perfect state of mind. You may also want to add further clarification to the title by providing your full name, date of birth, address, and maiden name. At the same time, the template of the will online should also include your unique signature. In addition, you should provide the details of the two witnesses you provide, such as full names, addresses, dates and their signatures. 

Step 3: List out all your immediate relatives

The next step is to list your immediate relatives and family members. While assigning a property to each family member is not essential, you still need to include and recognize them. At least, you should state your spouse’s and children’s full names and other details. Some of the additional necessary information to include is the birth dates and the marriage dates. 

After stating all the details, you may want to review the list again to confirm that you have included any influential person. In addition, you should consist of all the personal and financial circumstances of these family members as well as the specific needs that they may have. If you want to include two or more witnesses in the will processing, it is time to add them and decide on how you want to assign these assets. 

Step 4: State the Beneficiaries

The next step is apportioning these properties and stating the beneficiaries and who gets what. Let it be clear who among your family members will get so and so property after you depart. State the full name of the person who is the beneficiary and state the details of the property the person receives. 

If the property is real estate, you must describe it and state the specific address. In the case of a financial asset, display the current amount of support at the time of writing the will. If it’s a car, you should state the model, make and year of release with all the necessary papers. If any of your beneficiaries need guardianship, you should also note such details. 

Step 5: Name the will online executor

At this step, you should name the executor of the will, which is an important part. The executor must be someone you trust to fulfil your wishes. It would help if you chose someone who is also fair-minded and will remain neutral in the scheme of things. In addition, you may want to pick a backup executor who can carry out the same duties in case your primary executor is not available to do the job. 

Step 6: Print and Sign the Will

After producing an will online, you must print it and file it for signing. The signing process must involve two witnesses whose names are not included in the will or testament. Moreover, the witnesses cannot be natural heirs to any properties inside the will. The role of the witnesses is to verify that the will conditions are correct with the sound mind of the testator and that there is no manipulation. All present will then append their signature and date to the will. Another essential step is to tell your loved ones about your will and where they are kept. 

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How to Write your DIY Online Will without a Lawyer

It is not enough to tell you about the possibility of creating an online will. We should also endeavour to teach you how to make your online will using the Do-it-yourself approach and arrive at the right end. In other words, you will not have to spend much time with an attorney or pay a considerable fee for an attorney’s charges. When you learn the basic principles of writing an online will, you will discover nothing to stop you. 

Managing real estate properties is one of the core parts of creating a viable will that will be approved as a legal document. A solid real estate plan is an essential part of the equation that we cannot overlook under any guise. It may be one of the primary, most important things you will eventually find yourself doing. Such a real estate plan can protect you, your family, your loved ones and the legacy you will leave behind. 

Creating an effective online will is part of that vital real estate plan you need to make to secure your assets after passing. Many people feel overwhelmed when they think of creating a traditional will against an online will using the DIY approach. At Chamberlain, we have decided to provide a solution to the pressure that this feeling gives. When you start creating a choice by yourself, it reduces the overwhelming feeling. 

How to Create a Will in 7 Simple Steps

Creating an online will takes roughly about 15 minutes on average. We have therefore broken down the process into seven simple steps. The intention is to let you see that the process of creating an online will by yourself is a straightforward one. There are basic principles that work in this regard that can help you navigate through and arrive at the legal document as intended. In the end, you can create a will template to cover all the bases of the estate properties for your family and loved ones. Let’s look at the seven steps below

Start to create the document

When you are ready to create an online will, log on to our site and start the process by choosing the product you desire. Then, you can begin to build the will, which is the primary target. 

Name the beneficiaries and your executor

Creating your online will template is one step; assigning an executor is another critical step. You need to identify those who will benefit directly from your properties so that you don’t leave that to chance. The assignment must also follow you’re your intention and wishes. However, the beneficiaries must look up to the executor who implements all the will’s contents. 

The executor ensures that all your wishes about eh will are honoured to the letter. He oversees that estate and communicates with the beneficiaries who are stated to have the assets and properties. Finally, they distribute all the assets according to the will. 

Choose a guardian

A beneficiary of a will may require some caring for some time, such as small children or dependents. Therefore, you should name a guardian who will apportion this care to them if you are suddenly no longer there, so do so on your own. This role is more or less that of a caretaker who will control a piece of the estate. On the other hand, certain people may feel they are more suitable to assume this role after your demise. As a result, you will need to state the specific person to perform that role. 

Organize your assets

It is not only sufficient to create a list of your assets. It would help if you organized them according to importance and value. This step will enable you to make things easy for the executor when carrying out your plan as you have prepared them. Some of the items to include in your will include the following

  • Real and personal properties
  • Cash checks and savings accounts, as well as other bank accounts
  • All forms of business ownership, stakes, partnerships or portions of ownership
  • All royalties, patents and copyrights
  • Stocks, bonds, mutual funds, and other forms of business ownership
  • Other possessions.

Sign your finished online will in the presence of witnesses

After creating your will online and you are sure it is ready, you can print it and prepare it for signing and notarization. When it is time to sign your choice, you need to provide at least two witnesses who are older than 18 years of age. Note that the signing process must be according to the state’s laws, which is why you must factor it in from the beginning. 

Therefore, you may first establish what the state laws require before the wills can be notarized. Our template also considers the laws of your state to tailor your specific needs to the preparation of your online will. Also, we provide you with a knowledgeable attorney and other experts in the estate planning business. 

Save your online will

When your will is finished, printed and signed, the next thing is to ensure it is well-kept and provided when the time comes. You will need to store your will in a very safe place where only those you have assigned can access it when you have passed. For instance, you can use a safe deposit box or a fireproof safe but remember to give next of kin who will still have access to this item when you are no longer there.

Recheck and update your will if necessary

It is crucial not to ignore your will after safely keeping it. By reviewing the will, you may find one or more things you could add to make it perfect. In addition, you may want to check the significant events of your life if there is any need to do so. For instance, you may wish to update birth dates, death dates, and marriage or divorce dates in the family. However, even if no significant event has occurred over the years, you should still revisit your stored will or testament every three to five years. 

Conclusion

Above is essential information that can help you devise unique ways to write your will online, even without the help of an attorney. Not to say that an attorney cannot append a signature to your will if your state laws require it, but you can save cost and time. Contact Chamberlain today to learn more about creating an online will. 

More to read: Do’s and Don’ts of Making your Online Wills

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