Will Kits: Pros, Cons, and When to Choose a Lawyer for Your Estate Planning

As we age, many of us start thinking more seriously about what will happen to our possessions and loved ones when we’re no longer here. Having a will is one of the most important steps you can take to ensure your wishes are respected after your passing. It helps to avoid unnecessary legal battles, reduces stress for your loved ones, and ensures your assets are distributed according to your desires.

In today’s digital age, will kits have become popular for many looking to draft a will quickly and affordably. But are they the right choice for you? Let’s take a closer look at what will kits are, their benefits, and some potential drawbacks to consider before deciding.

What Are Will Kits?

Will kits are essentially DIY (do-it-yourself) tools that guide you through creating a will. These kits can be found in physical form at stores or online as digital downloads. They typically include templates and instructions to help you outline how you want your assets distributed, who will be the executor of your will, and other important details about your estate.

Benefits of Using Will Kits

1. Cost-Effective: One of the main reasons people choose will kits is because they are much cheaper than hiring a lawyer. A professionally drafted will cost several hundred dollars or more, depending on the complexity of your estate. In contrast, a will kit might cost as little as $20 to $50. This makes them attractive if you have a relatively simple estate and want to save money.
2. Convenience and Speed: Will kits offer a straightforward way to get your affairs in order without the need to schedule and attend multiple appointments with an attorney. You can complete a will in the comfort of your home and at your own pace. This convenience is particularly beneficial for seniors with mobility issues or who prefer to handle such matters privately.
3. Control Over the Process: For those who want a hands-on approach, will kits allow you to draft your will exactly how you want it. You can take your time to think about your decisions, modify them as you go, and ensure everything is in line with your wishes without external influence.
4. Educational: Using a will kit can also be a learning experience. As you go through the process, you’ll better understand what’s involved in estate planning and what you need to consider. This knowledge can be empowering and provide peace of mind, knowing you’ve addressed important details.

Drawbacks of Using Will Kits

1. Lack of Personalization: While will kits are designed to be user-friendly, they are also very general. They may not accommodate unique or complex situations like blended families, special needs dependents, or large estates with significant assets. If your situation doesn’t fit neatly into the templates provided, you may end up with a will that doesn’t fully reflect your intentions.
2. Legal Risks and Mistakes: One of the biggest risks of using a will kit is the potential for legal mistakes. Legal terminology can be confusing; even a small error can lead to big problems. If a will is improperly executed or does not comply with state laws, it could be deemed invalid in court. This could result in your estate being distributed according to state intestacy laws rather than your wishes.
3. No Legal Advice: Unlike working with an attorney who can offer guidance and answer questions, will kits do not provide legal advice. If you have specific concerns or need clarification on certain aspects of your estate, a will kit won’t be able to address these. This lack of expert advice can be a significant drawback, especially if your estate is more complex.
4. Updates and Revisions: Your situation and wishes may change over time. While you can update a will created with a kit, doing so may not be as straightforward as with an attorney. For example, if you need to add a new beneficiary or change the executor, you must ensure these updates are legally binding. If not done correctly, your changes may not be honored.

When Might a Kit Be Right for You?

For some people, a will kit might be the perfect solution. Here are a few scenarios where a will kit could be a good fit:

• Simple Estates: If you have a straightforward estate with few assets, no business interests, and no complex family dynamics, a will kit might meet your needs.
• Limited Budget: If the cost of hiring an attorney is a barrier, a will kit provides an affordable alternative that allows you to create a legally binding document without a large expense.
• Quick Solution: If you need to create a will quickly—for example, if you’re about to go on a trip or have recently received a serious medical diagnosis—a will kit can help you get something in place fast.
• Basic Understanding of Legal Language: A will kit can provide a good starting point if you feel confident navigating legal terminology and are comfortable following instructions.

When Might You Want to Consider a Lawyer Instead?

While will kits have their advantages, there are several situations where working with a lawyer might be a better choice:

• Complex Estates: If you have a larger estate with multiple properties, business interests, or significant investments, a lawyer can help you navigate these complexities and ensure all your assets are properly accounted for.
• Blended Families: If you have children from previous marriages or other complex family dynamics, an attorney can help you draft a will that clearly outlines your wishes and minimizes potential conflicts.
• Special Needs Beneficiaries: If you have a dependent with special needs, it’s crucial to have a will that addresses their care without jeopardizing their eligibility for government benefits. A lawyer can help you create a special needs trust or other arrangements to protect your loved one.
• Tax Concerns: For those with larger estates, tax implications may need to be considered. A lawyer can advise on minimizing taxes and ensuring more of your estate goes to your heirs.
• Peace of Mind: Sometimes, the biggest benefit of hiring a lawyer is the peace of mind that comes from knowing your will is professionally drafted, legally sound, and tailored to your specific situation.

Conclusion

Deciding whether a will kit is right for you is a personal choice that depends on your circumstances. It’s important to weigh the benefits and drawbacks carefully and consider the complexity of your estate and your comfort level with legal documents. Remember, the goal of having a will is to ensure your wishes are carried out and to make things as easy as possible for your loved ones during a difficult time.

If you’re unsure, consulting with a professional is always a good idea. Some attorneys offer free consultations, which can provide valuable insights and help you make an informed decision. Whether you choose a will kit or a lawyer, taking the time to create a will is a responsible and caring step that can provide peace of mind for you and your family.