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More Than One Kind of Will
The first kind is lawyer drafted. The best kind of will is one that’s made with the help of a lawyer. Hiring a lawyer to handle your will is best because it means the document will not only be official, but it will also be customized to fit your specific needs. Making a will with a lawyer is also best if you have a complex estate, like if you have assets in multiple countries, a child with a disability, or are separated but not divorced. It’s important to note that hiring a lawyer to draft your will can get pricey – with many lawyers charging over $800 for a basic will service. However, in the long run, the money might be worth it to know that your affairs will be properly handled after you’re gone.
There are several online platforms that help you create your own official will. These platforms, like Willful, allow you to tailor your will to your exact needs while still maintaining status as official and legally recognized. These platforms are a good idea if you have a simple estate and won’t need any legal advice, or if you want to get started early on your will and come back to edit it later on in life. These platforms do charge for their service, but most include free will updates in the initial cost. Similar to online platforms, will kits are fill-in-the-blank documents that allow you to fill in information about your estate to create a simple will. These documents are one-size fits all and don’t offer much space to customize or personalize your will, so they probably aren’t a good solution if you have a complex estate or specific needs. Also, you will have to purchase a new will kit every time you need to make changes because you get married, have children, get a divorce, or any other big life event.
A holographic will is simply a handwritten will that you sign and date. These wills are not witnessed. While this may seem like a simple and cost-effective option, a holographic will can present a few issues. For example, these kinds of wills aren’t officially recognized in many states. Plus, as many people don’t have legal backgrounds, these wills might be missing important will components and legal language. However, holographic wills are better than no will at all.
The worst kind of will is none at all. So, no matter which kind of will you want, be sure to choose one. Unfortunately, many people pass away without leaving a will. If this happens, the government will use its estate laws to handle your estate and will appoint its own executor to take care of the details. While this isn’t necessarily a bad thing, most people prefer to have control over their own affairs rather than leave things to the state.