Should You Consider an Online Will?

Everyone should prepare for the inevitable. But, unfortunately, the growing popularity of online Will writing means that many of those who get around to sorting their Will, opt for what appears to be the cheaper, easier option rather than arranging to see a lawyer.

Changing Times

The COVID-19 pandemic has changed the way we live and work. It’s forced us to look at what lies ahead and, as we engage more digitally, has fuelled a rise in Will-making.

Undoubtedly, few want to pass away without leaving our affairs in order. Likewise, no one wants to burden their family with the stress of trying to work out what our final wishes would have been.

Options For Making a Will

Aside from using an online service, or instructing a lawyer, technically, you can prepare a legally binding Will yourself, but the document must meet all legal requirements. Of course, you can also buy a template and fill in the blanks. But, for the moment, we’re concentrating on the pros and cons of the online route.

Benefits of Online Wills

Speed

It’s claimed, completing a simple online Will takes 15-20 minutes.

Cost

The cheapest advertised rate for an individual starts at £10 up to around £90 – £100. In contrast, hiring a lawyer to write a simple Will with minimal assets costs from £186 (inc VAT) – more if your estate is more complicated.

Better Than Nothing

Using a website to draw up a Will means you create a Will the same day, without needing to leave home. So, perhaps that’s far better than not doing a Will at all.

Disadvantages of Online Wills

Quality of Advice

An essential part of a lawyer’s job is to help you think through worst-case scenarios. A lawyer knows what questions to ask to ensure you’re fully covered. Additionally, a professional adviser looks at the bigger picture when it comes to inheritance tax.

No Discussion

Writing a Will is stressful for many people. It brings up tough conversations, such as naming your executor or guardians for your children. If you jointly own property, you must also check the legal situation regarding ownership. Having a conversation with an experienced lawyer helps. An online form taking 15 minutes to complete can only give you so much help.

Limited Options

A Will is an important document, but it’s only one document. A specialist lawyer can help you work out whether you need other documents. These include living Wills, Trusts, or Powers of Attorney. One visit to a lawyer can give you peace of mind that everything is covered.

Vague Language

Making an online form applicable to everyone means that online services often use vague language in the fine print. And ambiguity in a legal document can be serious.

Safeguards

Solicitors are bound by the SRA Standards and Regulations. They are subject to compulsory training and must have professional indemnity insurance cover. Also, lawyers must keep up-to-speed with any changes in the law. However, safeguards online service providers often lack.

Our Advice

The risks of preparing an online Will outweigh the benefits hugely. At best, some gifts in the Will don’t take effect. At worst, the Will may not be valid at all.

Whist it’s on your mind, make sure you prepare your Will. Choosing to go to a lawyer for advice may cost more than the initial ticket price of an online job, but the risks involved in flying solo could cost your family so much more in the end.

For further information, advice or an instant quotation, don’t hesitate to contact us. We’re here to help.

Please note that all views, comments or opinions expressed are for information only and do not constitute and should not be interpreted as being comprehensive or as giving legal advice. No one should seek to rely or act upon, or refrain from acting upon, the views, comments or opinions expressed herein without first obtaining specialist, professional or independent advice. While every effort has been made to ensure accuracy, Curtis Parkinson cannot be held liable for any errors, omissions or inaccuracies.