Understanding the Pros and Cons of Electronic Wills

With technology evolving and everything going digital in the past few decades, it’s no surprise that legal documents are also heading to the internet. In fact, signing a legal will online is now a possibility. But are e-wills going to replace a more traditional format? And should you get one? It's a very big decision to make, so you'll want to be well-informed. In this article, we’ll discuss the pros and cons of electronic wills so you can make the decision that’s right for you.

Pros

There are several reasons why electronic wills are growing in popularity. Below are four primary advantages of choosing an e-will. Convenience
  • Electronic wills are incredibly convenient to put together. You can set up your own will and sign it online. Setting up appointments to meet with a lawyer and notary in person can be challenging and take up more time than you want to spend. With an e-will, you can do everything from your computer, including meeting with a notary over video chat to verify the will.
Paperless
  • While an individual will in standard form doesn’t use a lot of paper, many people make several changes to their will throughout their lives, which can add up. Plus, keeping track of paper documents as important as a will is beginning to be more challenging as many other essential documents move to digital formats. E-wills are better for the environment and organization.
Good for Young People
  • Younger people may not have the assets of a person who has built them up over a lifetime, so many of them choose not to go through the trouble of creating a traditional will. Because e-wills are so easy to set up, it’s worth the effort even with few assets.
No Lawyer Present
  • As we mentioned above, part of the convenience of an e-will is that you don’t have to set up an appointment with a lawyer. This in itself is beneficial, not only for saving time but also for saving money on expensive lawyer fees.

Cons

There are also a couple of drawbacks to opting for an electronic will over a traditional one. No Lawyer Present
  • It’s true that not needing a lawyer present to sign a will saves money and effort, but it can also present its own set of problems. E-wills are easier to contest and can present problems when it comes time to execute. A lawyer’s help in drafting a will protects the person’s assets against litigation.
Not For Significant Assets
  • E-wills are simple to set up - too simple for a person with lots of assets. A traditionally drafted will be more thorough and detailed to protect wills of high monetary value.

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