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Commonly Asked Questions about Online Wills and Testaments

Trusts offer amazing benefits, but they also come with potential downsides like loss of control, limited access to assets, costs, and recordkeeping difficulties.
If you choose the correct state for your will and answer the information accurately, the will generated by is a legally binding document. That said, doesnt guarantee specific legal outcomes when you use its products or services.
FreeWills will and trust documents are legal in all 50 states and Washington D.C., were built and reviewed by estate planning experts, and are tailored to your needs.
While an online will is a viable option for most people, the following circumstances might be better handled with the help of an attorney: Complex financial situation (for example, large amounts of debt) Complicated family structure (for example, questions of disinheritance)
Probate avoidance is the only goal. While this is an admirable goal, a trust may not be the only way to avoid probate. You have straightforward wishes. Youre motivated by tax savings or Medicaid eligibility. Youre not great at follow-through.
A trust helps an estate avoid taxes and probate. It can protect assets from creditors and dictate the terms of inheritance for beneficiaries. The disadvantages of trusts are that they require time and money to create, and they cannot be easily revoked.
The disadvantage of creating a living trust versus a will is the cost. On average, a will costs between $0$1,000 to create. But because of its complexity, a living trust costs between $139$3,000 to create and between $2,500$7,000 to maintain.
A living trust, unlike a will, can keep your assets out of probate proceedings. A trustor names a trustee to manage the assets of the trust indefinitely. Wills name an executor to manage the assets of the probate estate only until probate closes.