Estate planning is a difficult topic for many people. Often, any thoughts or conversations about death are off-putting. For this reason, many individuals tend to procrastinate on the issue or put it off altogether.
One way that people try to get around the cost and effort of estate planning is to create a do-it-yourself (DIY) will online. There are numerous sites with various will templates available. However, the reality is that a DIY will could end up costing you more in the long run, and here’s why.
Generic terms won’t meet your needs
Estate planning is all about ensuring that your final wishes are upheld and providing those you love with security. The many thousands of online templates simply can’t take into account your specific family dynamic. By using a generic template, you risk not being able to tailor the will to your specific needs. Every family dynamic is different, and estate planning tools must be able to work around this. Ultimately, using an online will could result in someone you treasure not getting the inheritance that they deserve.
Your online will may not hold up legally
The laws regarding wills and estate planning vary from state to state. The regulations and legal language used in each state can be distinct. Thus, if you download a template that has been based on the law of any other state than Texas, it may not be relevant, and most importantly, it might not be legally valid.
Also, Texas requires a will to be signed by witnesses. Online wills may not cover this and if they do, instructions may not be clear. Ensuring that the process around signing wills has been carried out effectively is essential in upholding the validity of a will so that your estate can be allocated accordingly.
Having a watertight will is a crucial part of estate planning that will help to protect your family. Planning for what happens when you pass away is not easy, but having a further understanding of your legal rights can help.