Do-It-Yourself Will: Pros and Cons

What are the best practices for self-written wills?

Writing a will is crucial and necessary, but it’s also easy to get wrong. There are many common mistakes, and by implementing the following best practices, you can ensure that you aren’t missing any important aspect of creating a will.

• Write in clear language: Avoid ambiguity in your instructions. Use simple language and ensure your wishes are easily understood.
• State “It's my will”: Start the will with a clear statement that the document is your "last will and testament." Add the words “at my own will” and make clear that it expresses your final wishes.
• Include all assets: Be sure to include all assets to avoid complications during the probate process. Items left out of a will may be distributed by the court according to local and state inheritance laws, which may not reflect your wishes. Including a "residual clause" can help account for any assets that may have been overlooked.
• Don’t be generic: Avoid giving generic instructions. Don’t say, “My painting would go to my children.” Rather, be as precise as possible, such as “My Picasso painting should be given to my youngest daughter, Erica, upon my death.”
• Select the right executor: Choose an executor whom you can trust to carry out your wishes and who is efficient enough to handle tasks related to the settlement of your estate upon your death.
• Name alternate beneficiaries and executors: It's a good practice to name alternate beneficiaries and executors. This can help mitigate issues if your first choice of beneficiaries and executor die before you.

After you’ve written your will

Finishing your will is an important step, but it’s not the end of the estate planning process.

• Educate yourself on your state’s laws: Pay attention to and follow specific regulations of your state, such as age requirements and the required witness and notarization procedures, to ensure that your will is legally valid.
• Update the will after major life events: Major life events, like receipt of an inheritance or loss in the family, provide an excellent opportunity to update your will, though you have the flexibility to do so at any time. If you need to make adjustments, you can add a codicil that includes your signature and any necessary witness signatures required by state laws. If the changes are more extensive, you may rewrite your will entirely.
• Safe storage and sharing: There are multiple ways to store your will, but the key is to ensure that your loved ones know its location and can access it upon your death. Some people also opt to keep their will at home in a fireproof safe or briefcase, with their attorney, or in a safe deposit box. For those who choose to keep their will in a safe deposit box, appoint a reliable co-signer who can gain access to the box after your death. If your original will can't be located after your death, there is a risk your wishes won't be honored.

What are holographic wills?

A holographic will is a handwritten will drafted by the testator, which must be legible and free of typed elements. It should include a statement declaring it as your will, specify heirs, and appoint an independent executor. The executor can also be an heir, and should be trustworthy.

A holographic will must adhere to some basic norms:

• The testator, or person creating the will, is required to write the document in their own handwriting.
• The testator must personally sign the will.
• The will must also clearly express the testator's intent for it to serve as their will, which can be demonstrated through the document's content or by other evidence.

Though handwritten wills don't require witnesses or notarization, having such validations can enhance the will's credibility, because ultimately, the probate court has the final say on the will’s validity. If any disputes arise regarding the validity of the handwritten will during the probate process, a judge will determine whether it meets the requirements established by the state’s laws.

Can a handwritten note be a will?

In some states, yes, if it meets the legal requirements for a holographic will. In other states, a handwritten note alone is not enough and may not be valid. Handwritten notes can sometimes be unclear and may lead to disputes, so it's usually safer to sign a new will. Courts may accept handwritten changes only when state law allows them and the required formalities are met.

What are the rules for digital/electronic wills?

The Uniform Electronic Wills Act, which has only been adopted by a handful of states, simplifies the creation and execution of electronic wills, granting them legal recognition in probate courts. This act mandates that electronic signatures of testators be witnessed or notarised and allows states to have provisions for remote witnessing. Additionally, it addresses the recognition of electronic wills executed in accordance with the laws of the respective states. This area of the law is complicated and changing fast, so it is very important to talk with an attorney before attempting to create a digital will.

What are the different types of DIY wills?

There are many options for do-it-yourself wills. The following provides a comprehensive overview of creating a will using these templates.

Statutory forms

Statutory wills and powers of attorney, created under state laws, are a free alternative for estate planning document options. They contain pre-approved language recognised by courts but often lack customisation options. Follow the language of the statute precisely, only filling in the required information without making alterations.

Will books

Will books with good forms and clear instructions are a good option for those who aren't big on using technology but want an inexpensive option for creating a will. They usually come with downloadable forms or with forms on a CD and provide detailed instructions about how to fill out the form. These forms require some effort to complete, but instructions are provided.

Will software

There are programs that can help you create your will right on your computer or your laptop at your convenience and pace. Once you download the software, it guides you through a process with a series of questions. These questions help gather all the important details you need to create a will that genuinely reflects your wishes.

These programs offer a good level of customization, so you can tailor it to fit your requirements. As the software is stored on your computer, you can easily make changes whenever you need to or even set up additional wills later on without any extra cost. They also provide legal and practical support to help you out during the process.

Online will programs

Online will programs work a lot like traditional will software, but instead of having to install anything on your computer, you can access them online at any time, from anywhere. When you use one of these programs, it guides you through a series of questions to help create a will that’s customized to your needs. They often offer great legal and practical support. Though the program isn’t stored on your computer, you can usually download your will or save your answers online.

The best online will-makers streamline the will-making process, making it an affordable and convenient option for those who are unable to access attorney-based estate planning services. Though seeking attorney advice to navigate more complex estate planning situations, such as managing business and personal assets or a large estate, is recommended.