Equity Trustees Limited - Will apps and digital options may create estate planning disasters
There’s an app for that, or so the saying goes, but the rise of Will apps for android and iPhone, as well as the digital trend to supplement a written Will with a video recording, has the potential to create an estate planning disaster, warns Anna Hacker, National Manager Estate Planning with Equity Trustees Limited (EQT).
“Online Wills are bad enough, and people should always be wary of any service that implies drafting a Will is such a simple process that it can be done in a few minutes on the internet. But suggesting that an appropriate Will can be tapped out on your phone with a downloaded app is just too simplistic,” Ms Hacker said.
“While the apps stress that the structure is legal and binding, the most important aspect of making a Will is not the document itself, but the advice that goes with it because that’s what takes into account you as a person, the nuances in your personal relationships and your circumstances. With digital Wills and apps the advice step is missed – an app can’t detect subtleties or be proactive in how you deal with difficulties that might need to be dealt with in a Will.”
She urged those considering a Will app to look closely at the terms and conditions on the offering: “The developers of these apps are very clear that they take no responsibility for any changes in the laws or whether the Will app is appropriate to your own circumstances.”