Online wills have become increasingly popular in recent years. This is due to their convenience, easy process, and cost-effectiveness. They allow individuals to create legally valid wills without the need to visit a lawyer. This can be a great advantage for many people.
However, with the growing popularity of online wills, there is a potential risk involved. Which people may not fully understand if their online will service goes out of business.
This article will explore this issue. It will provide guidance on how to ensure that your online will is legally valid and protected.
There are lots of things to consider in making wills. Such as Joint will, lasting legacy, the cost of it. Maybe there can be additional costs or if it can be done in a fixed price. That is why your will should be authored by a reputable law firm. They can make it a straightforward process.
For other things about will, like bank accounts and special gifts inclusion talk to Chamberlains.
Understanding the Legal Validity of Online Wills
Before exploring what happens to your online will if your online will service goes out of business, it’s important to understand the legal requirements for wills. In Australia, for a will to be legally valid, it must meet certain criteria, including:
- The will must be in writing
- The testator must have testamentary capacity at the time of creating the will
- The will must be signed by the testator and witnessed by two independent witnesses who are present at the same time
- The testator must have intended the document to be their last will and testament
Online will services must adhere to these same legal requirements to ensure that the wills they produce are legally valid.
What Happens If Your Online Will Service Goes Out of Business?
If you have created an online will and the service provider goes out of business, you may be concerned about what happens to your will. Typically, online will services operate by allowing you to create a will using an online form, which is then stored securely on their servers. Click here to read more about Protecting Your Privacy with Online Wills: What Information Should You Keep Confidential?
When the service provider goes out of business, you may lose access to your online will, which can be a significant problem.
If this happens, you have a few options to consider.
- Contact the service provider to see if they can provide access to your online will or transfer it to another service provider
- Contact a lawyer to create a new will or to ensure that your existing online will is legally valid
- Consider creating a paper copy of your will, signed and witnessed according to legal requirements
It’s important to note that if your online will service goes out of business, you may incur additional costs to access your will or create a new one. This is why it’s essential to choose a reputable and reliable online will service or a law firm to ensure that your will is legally sound and protected.
Advantages of Using a Law Firm for Your Will
While online wills can be a convenient and cost-effective option, there are advantages to using a law firm to create your will. Here are some reasons why you might choose to use a law firm:
Legal expertise and peace of mind. A law firm can provide expert legal advice and ensure that your will is legally valid and binding. This can give you peace of mind knowing that your wishes will be carried out according to your final wishes.
Fixed price and no hidden costs. Law firms often charge a fixed price for their will services, which means you won’t have to worry about any unexpected costs.
Personalised service and support. A law firm can provide a personalised service and support throughout the process, ensuring that your will accurately reflects your final wishes.
What Happens to Your Online Will if Your Online Will Service Goes Out of Business?
The digital age has revolutionized many aspects of our lives, including how we plan for the future. Online wills have made the process of creating a will more accessible and cost-effective than ever before. However, with this convenience comes a concern about what happens to your online will if the online will service goes out of business.
Online wills and data protection
When you create an online will, your personal information and the details of your estate are stored in the online will service provider’s system. Therefore, it is essential to choose an online will service that takes data protection seriously.
The service provider should have robust security measures in place to ensure the protection of your personal information and estate details. In the event of the service provider going out of business, your personal information and estate details should not be accessible to unauthorized parties.
The importance of choosing a reputable online will service provider
One of the most crucial factors to consider when creating an online will is the reputation of the online will service provider. The provider should have a proven track record of delivering legally valid and reliable wills. A reputable provider will also have systems in place to protect your personal information and estate details.
What happens to your online will if the online will service provider goes out of business?
If an online will service provider goes out of business, the fate of your online will depends on the specific circumstances of the service provider’s closure.
Some service providers may have provisions in place for the transfer of your online will to another service provider or a traditional law firm. However, if the service provider has not made any such provisions, the fate of your online will may be uncertain.
The risks of not having a legally valid will
If the online will service provider goes out of business, and you do not have a legally valid will, your estate may be subject to intestacy laws. Intestacy laws are laws that determine how your estate will be distributed if you die without a will. Intestacy laws may not reflect your final wishes or take into account specific gifts or special arrangements you have made.
Ensuring the security of your online will
To ensure the security of your online will, it is essential to create a backup copy of your will and store it in a secure location. You can also consider printing a hard copy of your will and keeping it in a secure place, such as a safety deposit box. By taking these measures, you can ensure that your final wishes are safeguarded, regardless of what happens to your online will service provider.
Conclusion
Creating an online will is a straightforward and cost-effective process that can provide peace of mind and ensure that your final wishes are carried out.
However, it is crucial to choose a reputable online will service provider that takes data protection seriously and has provisions in place to ensure the transfer of your online will in the event of the provider’s closure.
By taking these steps, you can ensure that your online will is legally valid, and your final wishes are carried out, providing you with peace of mind and a sense of security.
If you’re worrying about your funeral service, or other to do list, you can consider them too. When filling the online form with clear instructions, you can add anything. It is usually a simple process.
If anything is not clear, you can contact the service provider for further information. You can decide it with traditional lawyers. Just have the right testamentary capacity. Wills are legal documents that can cover lots of things. Especially, if it is planned by expert lawyers.
