Creating a will is an essential step in ensuring that your assets are distributed according to your wishes after your passing. In Australia, the landscape of will creation has evolved significantly, with an increasing number of individuals opting for online will services. This article delves into the best online wills available in Australia, examining their affordability, reliability, and the factors to consider when choosing the right service for your needs.
Understanding Online Wills
online wills are digital platforms that allow individuals to create legally binding wills without the need for face-to-face consultations with solicitors. These services have gained popularity due to their convenience and cost-effectiveness. Approximately 25% of wills in New South Wales are now created using online services, reflecting a shift in how Australians approach estate planning.
David Kaplan, co-founder of Willed.com.au, emphasises that online services have removed logistical barriers to will creation, making it accessible for many. However, while these platforms offer a straightforward solution, it is crucial to understand their limitations and the complexities involved in estate planning.
Benefits of Online Wills
One of the primary advantages of using an online will service is the affordability. Traditional will preparation through a solicitor can be costly, with fees often exceeding several hundred dollars. In contrast, online platforms typically charge a fraction of this amount, making it a viable option for those on a budget.
Additionally, online will services provide a user-friendly interface that guides users through the process of creating a will. Most platforms offer step-by-step questionnaires that help individuals articulate their wishes clearly. This convenience is particularly appealing to younger generations who are more accustomed to digital solutions.
Limitations of Online Wills
Despite their advantages, online wills may not be suitable for everyone. Hayley Condon, Special Counsel at Attwood Marshall Lawyers, warns that the simple questionnaires used by many online platforms may not capture all the necessary details for complex estates. For individuals with significant assets, multiple beneficiaries, or specific wishes regarding guardianship, consulting a solicitor may be more appropriate.
Moreover, the rise of digital wills, such as the case of Colin Peek who left a will in his iPhone’s “Notes” app, highlights the legal challenges that can arise. While digital wills are becoming more recognised, they may not always hold up in court, leading to potential disputes among heirs.
Top Online Will Services in Australia
With numerous online will services available, it’s essential to evaluate your options carefully. Below are some of the most reputable platforms that offer affordable and reliable will creation services in Australia.
1. Willed.com.au
Willed.com.au is a leading online will service in Australia, known for its user-friendly interface and comprehensive offerings. The platform allows users to create a will in as little as 15 minutes, with prices starting at around $159. Willed also provides additional services, such as power of attorney and advance care directives, making it a one-stop solution for estate planning.
One of the standout features of Willed is its commitment to legal compliance. The platform ensures that all wills created are legally binding and adhere to Australian laws, providing peace of mind for users.
2. LegalZoom Australia
LegalZoom is an internationally recognised brand that has expanded its services to Australia. The platform offers a range of legal documents, including wills, at competitive prices. Users can create a basic will for approximately $99, with options for more complex documents available at higher rates.
LegalZoom also provides access to legal advice, allowing users to consult with professionals if they have specific questions or concerns about their will. This added layer of support can be invaluable for individuals navigating the complexities of estate planning.
3. Safewill
Safewill is another popular online will service that prides itself on its simplicity and affordability. With prices starting at $99, Safewill offers a straightforward process that guides users through the creation of their will. The platform also includes features such as digital storage and the ability to update your will easily as circumstances change.
Safewill is particularly appealing to younger Australians, as it integrates modern technology with traditional estate planning. The platform’s commitment to security ensures that users’ information is protected, giving them confidence in their choice. Learn more about: Online Wills Australia: Ensuring your ill is valid and secure
Factors to Consider When Choosing an Online Will Service
When selecting an online will service, several factors should be taken into account to ensure that you choose the best option for your needs.
Legal Compliance
It is crucial to ensure that the online will service you choose complies with Australian laws. A legally binding will must meet specific requirements, including being signed and witnessed appropriately. Reputable platforms will provide guidance on these requirements and ensure that your will is valid.
Additionally, consider whether the service offers updates or amendments to your will. Life circumstances can change, and having the ability to modify your will easily is essential for maintaining its relevance.
Customer Support
Access to customer support is another vital consideration. Some online will services offer limited assistance, while others provide comprehensive support, including access to legal professionals. If you have questions or need clarification during the will creation process, having reliable customer support can make a significant difference.
Look for platforms that offer multiple channels of communication, such as live chat, email, or phone support, to ensure you can get help when needed.
Reviews and Reputation
Before committing to an online will service, take the time to read reviews and testimonials from other users. This feedback can provide valuable insights into the platform’s reliability, ease of use, and overall customer satisfaction. Reputable services will have positive reviews and a track record of successfully assisting clients in creating their wills.
Additionally, consider checking for any complaints or issues raised by users, as this can help you gauge the service’s overall reputation in the industry.
The Importance of Regularly Updating Your Will
Creating a will is not a one-time task; it is essential to review and update your will regularly. Significant life events, such as marriage, divorce, the birth of children, or changes in financial circumstances, can impact your estate planning needs.
Failing to update your will can lead to unintended consequences, such as assets being distributed in a manner that does not reflect your current wishes. Regularly reviewing your will ensures that it remains relevant and legally binding, providing peace of mind for you and your loved ones.
How to Update Your Will
Updating your will can be a straightforward process, especially if you have chosen an online will service that allows for easy modifications. Most platforms will provide guidance on how to make changes, whether through a simple online form or by creating a new will altogether.
When updating your will, ensure that you follow the same legal requirements as when you created it initially. This includes having your updated will signed and witnessed appropriately to maintain its validity.
Conclusion
Online wills offer an affordable and convenient solution for individuals looking to create a legally binding will in Australia. With various options available, it is essential to consider factors such as legal compliance, customer support, and the platform’s reputation before making a decision.
While online will services can be an excellent choice for many, it is crucial to recognise their limitations, particularly for those with complex estates. Regularly updating your will is equally important to ensure that your wishes are accurately reflected and legally upheld.
By taking the time to research and select the right online will service, you can ensure that your estate planning needs are met, providing peace of mind for both you and your loved ones.
FAQs on Online Wills in Australia
An online will is a legally binding document created through a digital platform, allowing individuals to outline how their assets should be distributed after death without visiting a solicitor in person.
Yes, online wills are legally valid in Australia provided they meet requirements such as being properly signed and witnessed. Reputable platforms guide users to ensure compliance with Australian law.
Online wills typically cost between $99 and $159, while solicitor-prepared wills can cost several hundred dollars, making online options more affordable for many Australians.
Online wills are best suited for people with simple estates, few beneficiaries, or straightforward asset distribution wishes. Those with complex estates, business assets, or guardianship needs may benefit from consulting a solicitor.
The key benefits include affordability, convenience, speed (many wills can be completed in under 30 minutes), and user-friendly guidance throughout the process.
Online wills may not capture the complexity of larger estates or special circumstances, such as blended families, trusts, or multiple properties. In such cases, professional legal advice is recommended.