Online Wills are the new age Will Kits (Part 1)
Recently there have been many online Will platforms emerging.
Online Wills or “e-Wills” are the new age Will Kits.
The issues with an online Will platform are (and this list is not exhaustive):
- the Will is standard. You do not meet with the solicitor to enable him, her or them to properly advise you.
- it is not a law firm – do the client confidentiality rules apply?
- it does not understand your personal circumstances. You may be a member of a blended family or have sensitive family dynamics.
- it does not analyse your personal circumstances to understand whether a family provision claim could be made.
- the platform or website may be inflexible with ages of children to receive gifts or specific gifts.
- you may not be able to elect how your estate should be distributed in the event of a catastrophe or if you have complex specific gifts for particular beneficiaries.
- how can the platform properly analyse the nature of your assets? Does it explain what happens with your particular assets on your death.
- does the platform explain to you the process of what happens when you die and the role of your executor?
- how does the platform check the Will has been validly executed? There is no solicitor present to ensure the Will has been correctly executed.
- does the platform charge you a subscription, storage or access fee?
In part two, we will go through whether an online will fulfills the requirements for it to be a validly executed Will.
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