DIY wills are documents created by individuals to distribute their assets after death. They are advertised as a convenient and legally binding option, but legal authorities advise against them due to their inability to consider local laws. Online wills are becoming popular, but local laws can still undermine their effectiveness. DIY wills can provide a […]
Wills and trusts have key differences, including probate proceedings, public access, tax treatment, and asset management. Wills require probate and can be costly, while trusts avoid probate and offer greater tax benefits. Trusts can also be managed during the creator’s life and remain private. While wills and trusts both offer a mechanism for distributing estate […]
Reciprocal wills are mutually binding wills made by spouses or long-term partners. Each will has specific terms that must be met, and changes can only be made if they do not violate the conditions set forth in the other will. It is advisable to use an experienced solicitor and carefully review the documents. Reciprocal wills […]
A will is a legal document that outlines how a person’s assets are to be distributed after their death. Do-it-yourself wills have pros and cons, including lower cost and simplicity, but lack legal advice and may not be suitable for complex estates. While most jurisdictions do not require an attorney to create a valid will, […]
Estate planning and wills are closely linked as a will specifies how an estate will be divided and who the beneficiaries are, while dying without a proper will leaves the distribution of assets to state representatives. A will also allows for specific wishes to be implemented, such as leaving an estate to a philanthropic organization, […]
