Since COVID, it seems our lives have had to become e-EVERYTHING. This includes legal documents, like electronic wills, or “e-wills” that are gaining popularity. But don’t be fooled, though they may seem convenient, they can cost you more in the long run without a lawyer’s guidance.
“Elder law is so specialized, so focused on an individual’s needs, that it’s critical to have an attorney involved in writing a will,” said Scott Collins, Owner and Managing Attorney of Elder Law Guidance in Richmond.
Recently, The Uniform Law Commission approved the Electronic Wills Act. States can determine how many witnesses are required or if a notary is required and whether they must be physically present or if remote or virtual presence is allowed. A potential DIY-will legal disaster.
Several states have passed laws authorizing e-wills or are considering the legislation. Kentucky hasn’t yet, but those who move into or out of Kentucky will have to deal with the transportability of those e-wills just the same, as estate planning laws change from state to state.
The biggest concern with e-wills is that no will is one-size-fits all. The boilerplate wills floating online, even with heavy editing, could still leave important information or legal terms out that would have easily been caught by an elder law attorney.
“Grabbing a generic will online without consulting an elder law attorney is dangerous and a waste of your time,” said Collins. “Make this task easier on you and your loved ones for when they need to lean on this critical document.”
There’s also concern that people who are vulnerable to fraud, like the elderly, can be influenced and deceived without proper legal representation with an e-will.
To prevent aimless legal-Googling, Collins created a free webinar and workbook Estate Planning Basics: The Fast Track to Getting your Will, Living Will and Durable Power of Attorney so that clients can educate themselves on everything they need for these documents from an elder law attorney. (See screenshot below)
They can even fill out a basic form and bring it in so the meat of the will is done and just needs some finishing touches.
“The initial education and workload is on the client so they are really invested in their own case,” said Collins. “I can then provide the legal expertise they really need in a cost and time-effective way.”
Limitations of Electronic Wills
Electronic wills, while innovative and accessible, present notable limitations when compared to traditional wills drafted by human lawyers at law firms. One significant limitation is the inability of electronic wills to fully capture the complexities of an individual’s estate and personal wishes.
The legal profession relies on the nuanced understanding that legal professionals have, which artificial intelligence and legal technology used in electronic wills may not fully replicate. Traditional wills benefit from the personal touch and deep legal insight of lawyers, who can navigate the unique aspects of estate law that electronic platforms might overlook.
This human element ensures that all legal requirements are met and that the will is tailored to the specific needs of the individual, something that machine learning algorithms and the standardized approach of electronic wills might not achieve.
The drafting of legal documents, a skill refined in law schools and through the experience gained in the legal industry, involves more than just filling out templates; it requires a deep understanding of legal nuances, potential future issues, and personal client circumstances—areas where the current capabilities of AI and legal technology fall short of replacing lawyers.
Impact of Electronic Wills on Estate Planning
The absence of personalized legal advice in electronic wills significantly impacts estate planning by potentially leaving individuals without the comprehensive guidance needed to navigate complex legal and financial decisions.
The legal services provided by law firms and experienced attorneys include more than just drafting documents; they offer strategic advice on asset protection, tax implications, and future contingencies. This level of customization and foresight is crucial in estate planning, where individual circumstances, such as family dynamics, business ownerships, and cross-jurisdictional assets, require careful consideration.
The billable hour model and the direct engagement with legal professionals ensure that clients receive tailored advice that reflects their unique situations and long-term goals. Without this personalized interaction, users of electronic wills might miss out on essential estate planning strategies, potentially leading to unintended consequences for their beneficiaries.
Moreover, the mentorship that law students and young lawyers receive when involved in the traditional estate planning process is invaluable, contributing to the overall growth and sustainability of the legal profession—a facet that the impersonal nature of electronic wills cannot replace.
Collins and his team are helping Kentuckians update their wills remotely thanks to KRS 423.355 that allows a notary public to authenticate documents remotely by videoconferencing and other technology.
Need a will? Visit elderlawguidance.com and visit our Event Calendar to register for our Estate Planning Basics Webinar to begin the easy process.
Need a will updated? Call us at 859.544.6012 to set up a free consult to update your will asap.
