Electronic wills are likely to play a large role in future estate plans. The ability to both create and store a document align has greatly facilitated the creation of estate plans. The Uniform Law Commission also recently passed the Uniform Electronic Wills Act, which has greatly influenced how many states approach electronic wills. If you’re interested in creating an electronic will or are deciding whether an electronic will is a good idea for you, this article reviews some important issues that you should consider.
Whether Electronic Wills Are A Good Idea
While many people wondered what parts of the estate planning process could be done electronically, this question has only become more common during the COVID-19 pandemic. Additionally, Millennials as well as many younger individuals often find it an antiquated and outdated idea to physically sign a will. These individuals often question why if so many tasks can be performed electronically, why creating an estate plan can also not be done in such a manner. Consequently, electronic wills are playing a more common role in estate plans.
As a result, creating an electronic will and estate plan allows a person to create a plan for what happens if they become incapacitated or pass away without leaving their home. Many times, the process involves users creating a will, forwarding the documents to an online notary, and then engaging in a video chat with the notary. The notary then sends the creator back notarized copies which can be stored on a hard drive. While this process might sound simple, many lawyers remain skeptical about it as well as its legitimacy.
Challenges Presented by Electronic Wills
Attorneys who decide to challenge electronic wills recognize that these documents leave tremendous room for undue influence as well as other types of inappropriate influence over how estate plans are created. More specifically, electronic estate plans often create issues about a person’s lack of mental capacity as well as freeness of mind while signing estate planning documents.
Older individuals are particularly at risk of later claims of undue influence. Additionally, people who have more assets are at greater risk of such claims. Remember, that despite the lure of the easiness behind creating electronic wills is no substitute for having an experienced estate planning attorney to review such documents. Electronic wills also commonly result in estate planning challenges when a person wants to disinherit individuals. If you are ever left in doubt, remember that there are still some decisions that a skilled estate planning attorney can help you to more clearly assert.
Contact a Knowledgeable Estate Planning Attorney
Remember that despite challenges from some lawyers, electronic estate plans are anticipated to become a much more common occurrence in New York as well as many other states.
One of the best things that you can do if you have questions or concerns about the estate planning process is to speak with a knowledgeable attorney. Contact Ettinger Law Firm today to obtain the assistance of an attorney who will remain committed to making sure that your estate plan achieves the best results possible.