Americans opting to create online wills due to COVID-19

During the current pandemic more and more Americans are opting to create wills online. This is mainly due to the fact that many people are in isolation and cannot leave their houses to consult a lawyer. Another reason could be that many Americans are unsure about their futures amidst the outbreak of COVID-19. With the number of Corona cases increasing everyday Americans are weary about their futures and are making the necessary arrangements to allocate their assets. According to an article published by CNBC, 44 183 Americans have contracted the virus. There are many misconceptions that older people are the only ones severely affected by the virus, however, there have been a few cases of younger people with excellent health being severely affected by the virus.

There’s been an increasing number of younger people creating wills online due to uncertainty caused by COVID-19. Online wills have been on the rise even before the COVID-19 outbreak but not at such a drastic rate. Usually, creating a will is an after thought for many people because the thought of death never really frequents their mind. Death is becoming a possibility due to the staggering mortality rate across the world caused by COVID-19. As mentioned before online will creation was on the rise. This is because it is much cheaper to create a will online and less time consuming. In about 30 minutes you are able to state your last wishes and allocate your property and assets to your beneficiaries. Although creating a will online seems to be the easier option many lawyers are advising people not to create their wills online.

Because there are a lot of nuanced details that go into creating a will, it is often extremely pertinent to have an attorney oversee not only the language employed but also to assure that all the each asset is being passed down to exactly one beneficiary. It should also be noted that if the will does not comply with the state’s standard for what a will should look like, it can therefore be contested against, and deemed invalid. This can be particularly detrimental to the family of the deceased should the assets be great in worth.

That’s why it is more fitting for people with a smaller asset to create their wills online because it is less complicated and complex. When your assets are of greater value than it would be advised to consult a lawyer. When you are creating a will online you must make sure the site complies with the state specific regulations. Most sites will take these regulations into account but it is better to be safe than sorry. The COVID-19 outbreak makes it difficult to take all the necessary steps to completing a will. Firstly, one would need two notary witnesses present for the will to be valid. This could be extremely difficult as everyone is in self-isolation, it could also be extremely difficult to meet up with a lawyer during such time. Many jurisdictions are opting to make online signatures valid. This would make the online process of creating a will so much easier.

Bank of Mom & Dad

Bank of Mom & Dad See the table below for % of 21-39 year olds who have relied on parents financially since the start of