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The risk of having an outdated Estate Plan or no Estate Plan entirely could subject their heirs of an estate to extreme risk of financial loss due to laws regarding taxation.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.

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.

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.

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 bedisinherited.

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 and Living Trusts.

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.