Some people may consider it not a wholesome thought, but for others, estate planning is a necessity that needs to be done so one’s passing is as smooth as how you usually handle things for your loved ones.
It may often feel like you’re navigating an uninteresting maze, but today, some automated legal tools are quite helpful in revolutionizing the processes.
Digi-Tools in Estate Planning
Online Will Makers with Legal Compliance
You no longer need to take time off work to schedule an appointment with your attorney for will-making; many online platforms like LegalZoom can already streamline estate planning. These tools can transform a cumbersome legal process into a user-friendly experience, guiding you through a series of questions and enabling you to generate legally sound documents without confusing legal jargon.
Online will makers now offer flexibility, allowing you to update your will on-demand, especially when you’re a busy professional or family person who doesn’t have the luxury of time. You can craft a comprehensive will efficiently, on your own, making sure your assets are managed according to your wishes without the cost and hassle of legal procedures.
These platforms are also guaranteed to follow the legal standards of making a will in the US, such as:
1. Legal Age
These online platforms usually require users to verify their age before starting the will-making process to ensure they have legal capacities.
Sound Mind
At the outset, users must confirm they are mentally competent to make a will. Some platforms include questionnaires or guidance to ensure understanding.
2. Voluntariness
The online will-making platform typically includes statements requiring users to affirm that they are making the will voluntarily.
3. Signature
Many of these services provide instructions for printing and signing the will. Some even offer electronic signature options if allowed under their state law.
4. Witnesses
The platforms guide users to have their document witnessed by at least two individuals who are not beneficiaries, following state-specific rules.
5. Written Document
These online processes already create a written document, which often must be printed and signed to comply with strict legal standards.
Robo-Advisors for Intelligent Financial Planning
Some online platforms like Betterment help revolutionize estate planning by offering you apt automated financial advice. They can be integrated seamlessly with your estate plan, making sure you have a balanced asset allocation and growth (while still thriving and making money).
Specifically, robo-advisors can give you personalized financial advice, like the profitability option of a certificate of deposit accounts. You may need to compare bank CD accounts with their interest offerings and other benefits (present and future). They could be your best retirement and estate planning integrators where they can seamlessly incorporate your assets into your estate plan for efficient management.
They’re your most capable legal tools as they also function and operate under strict financial regulations and at all times comply with legal standards and edicts set by bodies like the Securities and Exchange Commission and Financial Industry Regulatory Authority.
Virtual Vaults: Your Digital Safekeepers
These virtual vaults can be your secure cloud storage server like Everplans, which revolutionizes how you store vital documents and passwords. They sure are legally compliant by offering encrypted storage to ensure your sensitive information remains protected, no matter how long.
Their high-end access controls allow you to designate trusted individuals who can retrieve these documents when needed. They maintain audit trails, listing or showcasing who accessed your files and when so you can make sure they were authorized and that there’s no cause for panic.
By taking stringent steps to safeguard your wills, powers of attorney, and financial records, these virtual vaults can guarantee your estate planning papers are secure and easily accessible.
AI Legal Assistants or Navigators
Many chatbots today, especially on platforms like DoNotPay, streamline estate tasks, offering you instant guidance on some of your legal questions. They are always up to legal standards by providing accurate, up-to-date information, ensuring your actions meet regulatory requirements.
They’ll document all your interactions, creating an audit trail or footprint for legal compliance. Also, since simplifying complex tasks is their expertise, they’ll make legal processes more efficient and accessible for you every time.
Endnotes
In 2024, estate planning no longer needs to be too complicated an ordeal. With these automated legal tools, managing your assets becomes easier and more secure.
You can embrace these innovations to safeguard your legacy and make them a real treasure for your next-in-lines, with your every wish followed to the letter.
