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For years, money skillful Clark Howard has tried to drive home to his listeners and readers the importance of having a last will and testament.

He'southward recommended LegalZoom.com and WillMaker software from Nolo.com. Both are cheaper online alternatives to the traditional process of sitting downwards with a paid lawyer to draw up your volition — but they each run effectually $70 a pop.

Now, there'due south a new free and like shooting fish in a barrel pick for creating a will online that you may want to check out.

RELATED: Here are the cheapest and easiest ways to do a will in 2018

New life insurance startup offers free will preparation

There's a new life insurance startup called Fabric, which takes the idea of applying for life insurance and updates it for the mobile age.

Fabric's accidental decease policy starts at merely $6/month for $100,000 of coverage. Best of all, you tin can employ and be approved in just two minutes on your phone.

The startup has also made online will grooming similarly easy  — and this office is free, with no strings attached.

At MeetFabric.com/Wills, you can create a volition in only five minutes. At that place are no apps to download, no services to sign up for and no gimmicks.

You don't even demand to exist a life insurance customer with a Fabric policy to do the free will prep — it's available to anyone.

Here's what you can expect when you create a free will with Fabric…

Part 1 – Getting started

You'll need to provide the post-obit info:

1. Legal name
2. Email address
3. Birthday
4. Home address

In addition, you lot'll besides have to create a password for your Fabric account during this step of the process.

Part 2 – Creating your will

Here'due south where the prophylactic really meets the road!

This step includes nine or fewer fields to fill out, depending on your exact circumstances:

1. Enter the legal names of your children
2. Designate someone as your children's guardian in case you pass away
3. Designate an alternate guardian in the consequence that the primary person chosen is unwilling or unable to take on the role
4. Select how you'd similar your estate to be left to your beneficiaries — either children lonely or spouse and children
5. Enter your spouse's legal name, if applicative
6. Include a bequest in your volition, if yous wish
7. Betoken what you intend to bequeath
8. Enter the name of your executor
9. Designate an alternate executor, if applicable

Role 3 – Programme your final arrangements

You're nearly washed! Here's what this section entails:

1. State your wishes for your final resting place. It's piece of cake to exercise from a drop-downwards menu
2. Decide what kind of ceremony y'all wish to have. Again, you tin utilize the drop-down menu to make it easy
3. Make any special requests for your final resting place or your ceremony
4. Click the "create will" push button

What happens side by side?

Inside minutes, you'll be emailed the Material Will Kit. In it, you'll find a copy of the volition itself…

You'll also find a checklist with pace-by-footstep instructions on how to take the document you've made online for costless and turn information technology into a legally binding document.

How to make your volition legally binding

You lot'll take some homework to do subsequently you create your will online. Here are the five steps Fabric advises that you lot accept:

1. Discover ii disinterested witnesses to verify that you lot are of sound mind at the time of signing
2. You may wish to include an Affirmation of Attesting Witnesses. It'south recommended, though not necessary. If you choose to practise this, a notary public must exist nowadays
3. Sign your volition
4. Store your will in a safe place
5. Contact your executor and another political party to tell them where the volition is stored

1 overnice thing about the Fabric Volition Kit is that information technology besides includes scripted prompts to help you broach the discussion about cease-of-life issues with your executor, guardian and witnesses.

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Source: https://clark.com/personal-finance-credit/free-online-will-fabric/

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