Estate planning in Australia is undergoing a significant transformation, with online will-making services revolutionising how Australians prepare for the future. It’s a digital shift that is making estate planning more accessible, affordable, and user-friendly than ever before.
The Traditional Challenges
For decades, creating a will was far from easy or cheap. To write your will meant scheduling appointments with a lawyer, taking time off work, and paying hundreds or even thousands of dollars. This resulted in a significant “will gap” in Australia, with nearly half of adults not having this essential document.
Traditional estate planning created barriers that prevented many Australians from protecting their loved ones, explains David Kaplan, co-founder of the online will writing service and estate planner Willed.com.au. “The process was often seen as expensive, time-consuming, and something only needed by the wealthy or elderly.”
The Digital Transformation
Online will services have disrupted this model by offering:
1. Accessibility
Digital platforms are available 24/7, allowing users to create wills on their own schedule without taking time off work or arranging childcare.
“At Willed, we’ve removed the logistical barriers to will creation,” says Kaplan. “Our customers can start and complete their will whenever it is convenient for them, even at midnight in their pajamas if they prefer.”
2. Affordability
Online wills typically cost a fraction of traditional lawyer-drafted documents, making estate planning financially accessible to more Australians.
3. User-Friendly Experience
Modern platforms use plain language and step-by-step guidance, demystifying legal terminology and complex concepts.
4. Educational Resources
Digital platforms often include extensive educational materials that help users understand the importance of various estate planning elements.
5. Easy Updates
Unlike traditional wills that require redrafting to make changes, online services typically allow for simpler updates when circumstances change.
The Impact on Australians
This digital transformation is having measurable effects on estate planning behaviors:
- Younger engagement: Online platforms are attracting younger users who wouldn’t typically visit a lawyer for estate planning.
- Higher completion rates: The simplified process results in more completed wills.
- Regular updates: Digital accessibility makes people more likely to update their wills after major life events.
According to Kaplan, “We’re seeing a significant shift in who creates wills and when. Our data shows 38% of users finally got around to creating a will specifically because online services made the process more approachable.”
Addressing Modern Estate Challenges
Online will services are also evolving to address contemporary issues that traditional wills might overlook:
Digital Assets
From cryptocurrency to social media accounts, online platforms now include specific provisions for digital assets.
“Traditional will templates often didn’t account for digital assets,” explains Kaplan. “Modern online services guide users through cataloging these assets and providing clear instructions for executors on how to access and distribute them.”
Blended Families
Digital platforms can offer more guidance on the complexities of providing for blended family situations, regrettably becoming more of a regular occurrence across the country.
International Assets
Some online services provide specific assistance for those with assets in multiple countries.
Legal Validity and Safeguards
A common concern about online wills is their legal standing. Reputable online will services ensure documents meet all legal requirements for validity in Australian jurisdictions.
“Legal validity is our top priority,” Kaplan said. “Our wills are designed to comply with all relevant legislation, and we provide clear instructions on proper witnessing and execution to ensure the document stands up to scrutiny.”
The Future of Estate Planning
As technology continues to evolve, online estate planning is likely to become even more sophisticated:
- Integration with financial planning apps and services
- Biometric verification for added security
- Advanced features for business owners and complex estates
- Virtual witnessing options (where legally permitted)
“We’re just at the beginning of this transformation,” says Kaplan. “The future of estate planning will combine technological convenience with legal protection in ways that make proper planning accessible to every Australian.”
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