DIYInstitute.com has announced that its online estate planning service, Createmywill.com is reaching a milestone with the popular website nearing its 8 year anniversary in May. Through their unique online service, clients can download estate planning forms and attorney authored guides without having to pay the higher costs commonly associated with traditional methods of estate planning.

“The days of disposable cash are over,” said CreateMyWill.com creator and owner Jason Mcclain. “A few years ago paying for estate planning was something we considered the price of admission for having that service performed. Today, Americans are finding ways to cut expenses and do it yourself estate planning is another service that falls under that umbrella. We offer forms for all 50 US States, so someone can get California Last Will and Tesament forms quickly and easily.”

With the typical, average costs for estate planning attorney fees ranging from $2000 to $3000 the prospects of Createmywill.com and the practicality of Do-It-Yourself estate planning such as downloadable last will and testament forms and living trust forms have surged as the prospects of economical renewal stagnates.

“The deeper I delved into how to make the dream of every American being able to handle and manage their own estate planning needs; the more I realized how so much of the estate planning process can be streamlined and simplified free of legal speak and unnecessary jargon,” said McClain. “Providing this service for 8 years with continued growth is a testament towards the need for cost efficient means towards Estate Planning.”

The risk of having an outdated Estate Plan or no Estate Plan entirely could subject their heirs of an estate to extreme risk of financial loss due to laws regarding taxation. Utilizing Online Estate Planning Forms and Guides clearly and succinctly put forth a legal strategy maximizing the passage of assets and property onto heirs in a way specifically granted by the executor. Createmywill.com seeks to take a complicated matter, which many procrastinate over and never fully realize, and turn it into a simple downloadable form that makes starting the estate planning quick, easy, and cost efficient.

Anyone of legal age and sound mind can make a Will.

If you have property that you wish to distribute at the time of your death, you should have a Will; and good fortune has it that Createawill.com can make getting started as easy as a click of a button away.

When you make out your Will, you’ll need to designate beneficiaries and an executor. The beneficiaries are the people or organizations who receive your property. The executor is the one you designate to see that your wishes are carried out. All of these decisions need to be made when creating a last will and testament.

If you have minor children, you should also nominate a guardian to provide for the physical welfare of your children.

In most states, a minor becomes an adult at the age of 18. Once he or she reaches that legal age, certain rights and privileges are granted. This is true for most states when it comes to making a Will. Forty-seven states currently require the Will maker to be at least 18 years of age. South Dakota is the only state that requires the Will maker to be older than 18. Louisiana sets the minimum age at 16, while in Georgia; you can make a Will as early as 14 years of age. Several states may allow for those younger than 18 years of age to write a Will if they are married, economically independent, or a member of the military.

Division of Property

The main purpose of a Will is to make provisions for the division of your property after your death. In general, you can designate anyone you wish to be your beneficiaries and you can distribute your assets in any fashion, but there are a few exceptions. Many states have provisions that provide the surviving spouse with the ability to elect to take a defined portion of the estate regardless of the provisions in the Will.

Leaving Property to Spouses

Most of the time, spouses are the major beneficiary in a  Will. Even so, there are laws in all states that protect the surviving spouse from being disinherited. Some allow the spouse to take an elective share of the estate, usually one-half or one-third, regardless of the provisions in the Will. One method to disinherit a spouse may be through the use of a premarital agreement, but the courts are apt to closely scrutinize such agreements to make sure that the agreement was signed in good faith and with full disclosure of assets.

It’s possible to put limitations on the property that you leave to a spouse through the establishment of living trusts for the benefit of your spouse that come into existence after you die. You should consider the following factors in deciding what kind of trust is best for your circumstances:

• the possibility that your spouse’s needs may increase in the future
• the manner of living to which your spouse is accustomed
• the ability of your spouse to provide for his or her own needs
• the ability of your spouse to manage the trust assets
• the possibility that your spouse may remarry and the affect the marriage may have on your children or other beneficiaries.

Providing for Minor Children

Many times a spouse is given the entire estate with the expectation that he or she will provide for minor children. That expectation is not always sound however, especially when the surviving spouse is not the parent of the children, or if the spouse is not available to care for the children at the time of your death.

One of the most common practices under these circumstances is the establishment in the Will of a minor children’s trust. The trust provides financial support for the children until they become adults, at which time the remaining assets of the trust are distributed to them. It is important to carefully select the trustee, who will manage the trust and make the distributions to your children. The trustee will work closely with the person you’ve named as guardian to raise your children. In many cases, the trustee and the guardian are the same person.

Leaving Property to Adult Children

It’s common for adult children to receive a significant portion of their parent’s property. On the other hand, in every state except Louisiana, it is legally permissible to disinherit a child, regardless of his or her needs or age. Louisiana law provides that no child under the age of 23 at the time of the parent’s death can be disinherited.

Leaving Property to Grandchildren

Grandparents often leave portions of their estates to their grandchildren to help pay for special needs or educational expenses. Grandparents may also leave property to grandchildren because their parents already have sufficient assets.

Written Requirements

Most Wills are documented with the written word. These are usually formatted with typewriters or word processors. If properly signed and witnessed according to the requirements of the state where signed, these are legally valid in all states. However, there are other types of Wills.

Some states recognize Holographic Wills. These are handwritten, unwitnessed Wills, signed only by the Will maker. A few states still recognize Oral Wills, under certain conditions. Others offer a standard Will form, where you just fill in the blanks.

A relatively new type of Will is the Video Will, where the Will maker usually reads his or her Will out loud before a video camera. Videotaping a Will can help avoid a Will contest by showing that the Will maker was competent and following proper signing formalities. Keep in mind that many states will not recognize a video Wills as a substitute for a written Will; the Will maker should do both.

Signing Requirements

In order to make your Estate Plan or Living Will valid, you must sign the document in the presence of at least two witnesses. They, in turn, must sign it as well, in your presence and in the presence of each other. At the time of the signing, most state require that you be mentally competent and at least 18 years of age.

Witnesses

Witnesses are very important to the validity of a Will. The signature of at least two witnesses is required in order to affirm that you were mentally competent and under no duress at the time you executed the Will. Each witness must understand that they are witnessing a the signing of a Living Will and they must be competent to testify in court. Witnesses should sign in the presence of each other.

In many states, a witness cannot be a beneficiary of the estate. States have adopted these laws to prevent any conflict of interest from those who may be in line for gifts, or who may benefit from your death. Some states will allow for a beneficiary to act as a witness, but in doing so, that witness may lose some or all of the property that he or she would have to inherited.

Estate planning is so important for a variety of reasons. Sometimes those reasons can be for one specific sole purpose and sometimes for a combination of reasons. At the end of the day whether the primary purpose of planning your estate is for financial security or simply limiting or trying to avoid taxes, estate planning does not always have to be an overtly complicated or timely procedure to procure. And while your goals for Estate planning may be different from those your neighbor just as two estates are not identical, there are some basic steps you can follow in terms of estate planning that are sound for anyone with any sized estate. Of course while all downloadable estate planning forms and last will and testament forms are the best way to proceed; Here is some information to better help you understand the estate planning process as well as some of the necessary steps that can streamline the process and make it more easily understood.

You cant decide how to divvy up what you have until you figure exactly what you’ve got. Draw up a ledger of all of your assets and possessions to get an idea of exactly what you will be working with in terms of your estate plan and get an accurate idea thereof. There are several websites you can get these downloadable estate planning forms Be detailed and keep an extensive and accurate list of all your financial accounts, any IRAs and Stock, as well as any property held by you or in which you have any percentage of interest.

Once you have a good idea of what you are dealing with in terms of assets, you must determine what are your priorities? What is of most importance to you? Consider this item the other side of the coin of the item above. Is the goal of your online estate plan forms simply to take care of your loved ones in a fair and equitable fashion or is your goal to minimize the heavy hand on Uncle Sam and avoid as much probate and taxation as possible? Determining and deciding on your end game goals will go a long way into how to proceed in a logical, sensible process.
Next we get to the part of estate planning and legal will forms that can get a bit sticky. Nothing brings out the worst in people like a battle over an estate or inheritance. The next step is deciding how all of the above will be divided up and delivered and how that process will be handled. While you son may be the best choice to handle your property assets the family heirlooms will probably be something best handled by your spouse or your sister. These type of decisions are yours and yours alone and some type of quiet reflection is certainly not a bad idea to clarify and determine this process.

Finally, Createawill.com! Where else can you go and in a matter of moments get all of the online legal forms needed to get started on your last will and estate plan?We created Createawill.com to provide an easy and affordable solution for everyone to receive all of the documents needed for their estate planning, including the Last Will and Testament Forms. We took the time to also create estate planning attorney authorized guides to help walk you through the process of filling out your Last Will and Testament.

One of the question we are most frequently asked is that of what is the difference between a living wills and versus that of a last will and testament? First, we must understand that a last will and testament is  very different from a living will. Downloadable living wills are used in preparation in the event of a severe medical tragedy or emergency. If a person needs extreme medical care to the point that they are incapacitated and living only to the presence of life via medical equipment and technology, more often then not that person is unable to make decisions regarding health care issues or other medical treatment.

A person suffers a stroke, or involved in a car accident, and is left in a coma or in a vegetative state, and the preserving life is maintained only through life support; families often have to struggle with the decisions as to whether or not to continue medical treatment or finally decide to pull the plug. Unfortunately there are times that the family’s decisions are different from what the wishes of the patient requests. This is exactly the case when a do it yourself living will forms can come in handy. In living wills-a person specifies and requests what route they want to take should an event arise such as described above. Once again its very clear- last will and testament are very different from living wills.

While living wills deal with issues that happen to a person before legal death; last will and testaments deal with a person’s desires after death. Last will and testament forms are important for everybody; but especially to those with families. If god forbid you and the significant other were both in an untimely death-what would become of your kids? Who would you want to take custody? As unbelievable as it sounds there are situations where custody of the children may not be quite as obvious as you think-and in the case of untimely death you won’t be around to argue the point.

Other items to consider regarding a last will and testament is take make your final wishes and grant who will get what percentage of any money and property left behind. Sadly the need to give everything to your spouse may not quite as beneficial as utilizing trusts and other financial options to offset legal issues regarding estate taxation.

Think of living wills and downloadable last will and testaments as a type of before and after death with the living part clearly referring to the fact you are breathing but incapacitated while a Last Will means there are no option and you have gone to the great beyond. Living versus Last. Two Key Words in 2 Very important documents for you and your family.

It is amazing to us that the more people we reach through this blog, the more we realize that vast amount of people who still have this archaic preconceived misconception that estate planning and living will planning is only for people named Gates, Buffett, and Zuckerberg. The reality is clear and as a reknowned former US president once said, “Make No Mistake” in that estate planning is something everyone needs to not only consider but take action-especially as we grow older and enter our middle age years. It is easy to be 20 or 30 years old and take on whatever life throws at you but as you get older the odds of demise become less and less in your favor- the best document we could every recommend in gross, sheer terms of importance is without question-a Living Will.

Living Wills basically allow those who may be experiencing the catastrophic effects of some type terminal illness to get down on paper their wishes and how they prefer the treatment to be handled in regards to the medical application and procedures to extend their lives. There my be cases where someone does not want to be placed on a breathing apparatus or somehow kept alive by means of a feeding tube or other medical procedures. The Terry Schiavo case comes to mind. A living will allows the wishes of that person to decide on their own terms how they would like their medical wishes to be granted as well as giving their family a blueprint on how to proceed should the unthinkable occur.

A living will is indeed a legally binding document, as opposed to wills that discuss nothing more then land,bank accounts and business holdings; creating a living will’s only requirement is that the person in question to write down their desires and wishes in the presence of a witness or witnesses. Having a living will spares your loved one the terrible process that is making the final, oftentimes tragic decision on how to proceed in a medical emergency. Imagine for a moment what your family may be put through when faced with making this decision? Isn’t getting your wishes in writing now a far better alternative then forcing loved ones into a difficult decision when they are the most vulnerable emotionally?

It is ironic that living wills are generally not associated with typical estate planning forms but we always advocated that they should be. For all other types of will and estate planning documents, such as traditional wills, CreateAWill.com and EasyAgreements.com are always a button click away from helping you get started on all of you estate planning needs.

Createawill.com exists simply for the fact that most people

want to leave some type of legacy for their loved ones after death. This is the deceased’s final act of love to their family members as having those resources and assets to the surviving members of the family can ease their financial burden or simply improving their life. After a lifetime of blood, sweat, and tears it is only natural to want to leave as much of your money,property, and other assets with the people whom you loved and cared for during your lifetime.

But as with all things regulated the process is never clear cut nor simply, the probate process itself can gobble up a good portion of that money through simple fees alone. Think about it- is the last thing that you want for your family when completing your last will and testament to be legally forced to give some of the proceeds to the government with the potential of them being forced to wait for months or years to see any of your assets that you wanted to give them?
Some tips to help detour the nastiness and inherent unfairness of the probate process can be found below and are listed as follows:
Look into the idea of creating a living will and trust as opposed to a simple will. Living trusts distribute your assets and property into an trust that will then be managed and overseen by a trustee with whom you can name or appoint. Why a Trust? It allows your estate to avoid probate entirely since assets and property you owned are now held in trust as opposed to simply being listed in a will. This also avoids all probate costs as there are no court fees or costs occurred that will be taken from the estate.
Another idea is to add your selected beneficiaries to all of your bank accounts, savings accounts, as well as any retirement accounts that may be in your name. NOTE-even if you do elect to create a last will and testament online, your assets do not have to go through the probate process; your retirement and bank account will allow you to name a beneficiary and then it also does not have to be included in full or as part of probate process. We at CreateaWill.com suggest that you should go through your accounts and determine which accounts will allow you to utilize the beneficiary option that in turn can save both time and money for your loved ones. Ensuring that common financial staples like savings accounts, pension plans, life insurance policies, 401(k) plans, IRA accounts, stocks and bonds, and other financial accounts are all wise decisions.
And lastly, ensure that any of your property held is listed and documents as being held with joint tenancy with right of survivorship. Keep in mind this option will only apply in the instances in which you are holding property jointly with a spouse or a significant other. This process thus allows the property to pass automatically to the person designated without the time consumption required of having to enter and go through the probate process.  All of these should be considered when completing a living will and trust.

Its one aspect of life no one wants to think about. While we enjoy the holidays and look forward to the joy we get from seeing our childrens smiling faces; the facts are very few people like or want to think about what would happen to them in the event of you meeting an untimely death. Are you prepared to meet the needs of your children or at least have some type of blue print for them? Taking a bit of time to prepare for their needs should be considered every bit the part of being a good parent as teaching your child to read or ride a bike. Createawill.com can make it easy!
The First basic rule to get started is to create a simple list of relatives and friends with whom you must trust. You have drawn up your list and slimmed down the candidates with whom you must trust and even took the foresight to make your final choice by creating a basic last will and testament that included the wishes with whom you chose to be a legal guardian. That is all and well but consider these additional factors when making your decisions as they are the extra step of insurance making sure your wishes can be granted in a straight forward easy to understand manner and while state have different laws; most can be found easily online as this example of a California last will and testament.

Update Annually. Lets be honest-circumstances change. Whom you felt was the best 2 years ago may no longer be the best choice for you now. Make a note on your calendar to review your will and legal guardian wishes every 2 years. Also consider the age of your children as older children have different needs than younger children. The needs of a teenager will be vastly different then the needs of a child in grade school or younger. For a teen, factoring location is important in that you may feel that keeping your teen in the same location and school district may be more important then the teen to remain with blood relatives. Based on this decision some parents may choose close and trusted family friends over blood relatives. Having a Last will and testament checklist can be a beneficial aide.

Make Provisions to assist those you have chosen to become the Legal Guardian.  Ensure that you have created support tools like life insurance, as well as all trusts and estate planning documents in place. Double check to ensure that they are set up in the manner that allows your legal guardian as many options to control your money as they need to raise your children according to your wishes. Choosing one person to handle finances with another handling guardian duties can be a slippery slope that may compromise both parties to handle those duties impartially. It may sound obvious but do not leave anything to chance.

Expect the Unexpected. If you line in a precarious and volatile family situation this issue is of critical importance in the event of divorce and other family conflicts. Consider the numerous situations and possibilities. Do you fear your ex-spouse could potentially deny your side of the family (your parents and/or siblings) from visiting your children if you die and the ex becomes sole legal guardian? If so, talk to an attorney about your options now. Otherwise, your family could face a lengthy and costly court battle. Createawill.com is your complete online resource for all last will and testament  and estate planning needs.

If you still don’t have a last will at all, beware the risks of not choosing a guardian yourself.

Wrongful death claims can be potential windfalls for revenue and typically when both parents die at the same time, it’s due to some type of tragic and horrific accident. A wrongful death suit could follow, with any resulting payment awarded to the children/child of the deceased. This lawsuit could possibly bring far and above the estate amounts cumulative value. In light of this and the flashing of dollar signs; relatives who otherwise could care less may suddenly change their minds and decide to fight for guardianship. Its not an attractive possibility-but a possibility none the less and one that must be accounted for. A last will and testament and estate plan should take all of these factors into account.

I never gave much thought to creating a will.  In the back of my mind I always thought that “Yes, it is a good idea,” but never did much about it.  After I got married and had three kids, I still never gave much thought as to what to do about creating a will.  Seems like it is one of those never ending cycles of best intentions but rarely something that actually gets done.  Finally, after having been married and having three kids i took the time to get things going.  Why is a will a good idea?  Because without a good will you are doing little more then ensuring that your family will have more problems to deal with after you pass away.  isn’t it hard enough to deal with the loss of a loved one?  Why add probate, attorney fees, legal costs and everything else that comes with not having a will.   I may not know much about the law but I do know that I love my wife and kids.  I do not make much money and this economy who is…. However, thank God for www.createmywill.com.  When I logged into this site and found the forms and kit for a simply download, it was an answer to my prayer.  Much better then legal zoom and a lot cheaper.  Creating the will was so easy with Create My Will.  It took me about 20 minutes to create the initial document and i was all set.  I certainly suggest doing so.

Here are my Top 5 reasons to have a will:

1. Your family can avoid probate after you pass away
2. Your assets are spelled out.  It’s a good exercise to not only document the assets but other things in yout life like where the money is and how your family can access it when you pass.  No, that’s not part of a will but I found myself creating lists that will work out when I pass away.
3. From the grave, you have the ability to communicate your hopes, wishes and plans.  It’s a way to have a say in things like college funds, estate measures and family matters long after you have passed away.
4. Creating a last will and testament is not expensive.  You can do it from a number of online websites.