DIY Will Kits vs. Online Wills: Which is Better for Average Aussies?

Two of the most popular options out there are DIY will kits and online will services. While DIY will kits offer a low-cost, straightforward solution, online wills provide a modern alternative with added support.

If you aren’t clear what’s best for you, these are the key differences between the two.

DIY Will Kits: Affordable, but Limited

DIY will kits like what you get at the Post Office are widely accessible and affordable, often found in stores or available for download online. They are usually a fairly basic template that helps outline the main aspects of your estate distribution (who gets what). However, they provide little guidance or customisation, which can be a drawback for those with specific or complex estate needs.

Pros

• Affordable: Typically the least expensive option.
• Convenient: Easy to find in stores or online.
• Simple to use: Basic templates allow you to fill out your wishes quickly.

Cons

• Limited guidance: Little to no legal guidance, which can increase the risk of errors.
• Not suitable for complex estates: May not cover specific or unique estate planning needs.
• Higher risk of disputes: Ambiguities or missed details can lead to legal issues for loved ones.

Online Wills: Professional Support & Convenient

Online wills offer a balanced solution for those seeking affordability along with professional insight. They are available from platforms such as Willed. An online will guides you through each step, using prompts and tailored resources to ensure no details are missed. They are a secure and convenient option that combines ease of use with professional support, helping avoid the common pitfalls associated with DIY options.

Pros

• Guided process: Step-by-step instructions help ensure a comprehensive will.
• Access to professional resources: Reduces the risk of errors by offering helpful guidance.
• Secure and accessible: Create your will from anywhere, with digital storage options for easy access.

Cons

• Slightly higher cost: More expensive than a DIY kit, though generally less than consulting a lawyer.
• Requires internet access: The online process requires a stable internet connection.
• Limited for highly complex estates: May still require legal consultation for particularly intricate estate needs.

Which Option Is Right for You?

Choosing the right will option depends on your estate’s complexity and your comfort with legal language. If your estate is simple, a DIY kit might suffice. However, for added assurance and a guided process, an online will service offers a reliable middle ground, suitable for both simple and moderately complex estates.

Frequently Asked Questions

Is an online will legally binding in Australia?

Yes, online wills created through reputable platforms are legally binding in Australia, provided they are signed and witnessed according to legal requirements.

How much does it cost to create a will online compared to a DIY kit?

DIY will kits typically cost between $20-$50, while online wills can range from $80-$200, depending on the level of support and services offered. Online wills provide more comprehensive guidance, which may be worth the additional investment for many people.

Are online wills secure?

Yes, reputable online will platforms use encryption and secure servers to protect your information.

What happens if my estate is too complex for a DIY or online will?

If you have a particularly complex estate, such as multiple properties, business assets, or specific trust requirements, consulting an estate lawyer is advisable. However, for most simple and moderately complex estates, online wills provide sufficient structure and support.

Can I update an online will after it’s created?

Yes, online wills can be updated as your circumstances change, for example, after a change in relationship status.