Canned Wills

No book, software, or other published material is intended as a substitute for legal advice from a knowledgeable licensed attorney. - Generic type of disclaimer found in every legal reference book, software package, or other published legal self-help material.

Considering that we are lucky enough to live in a country where you can buy just about anything, it shouldn't shock you to learn that you can buy a ready-made will as easily as you'd buy your favorite brand of coffee or toothpaste. Too bad you can't do the same to get a few extra years of life.

A will is a type of legal document and there are certainly plenty of them for sale to choose from. Store bought or "canned" wills come in many formats, ranging from pre-printed copies found in books to very sophisticated will making software packages or kits.

The main benefit of a canned will is that you trade a relatively small amount of money to have somebody else do the bulk of the work for you. Such wills are relatively inexpensive and there are many out there that cost less than $20. Unfortunately, the greatest strength of a canned will may also be its greatest weakness.

The main drawback of using a canned will is the real life application of the phrase "you get what you pay for." The danger with any of these wills is that they don't adequately reflect the laws of your state or do not provide more complex features you might need (like minimizing estate taxes).

On top of that, the companies that put out these wills, as well as other law-related self-help materials, include a disclaimer of legal liability similar to the one at the beginning of this section. The practical effect of this is that, if you use their materials and something goes wrong, you have only yourself to blame for not seeking the help of an attorney who is familiar with the laws of your state.

If you bought an inadequate will kit--one that didn't account for all the nuances of your situation or the requirement of your state of residence, there is also a very good chance that this won't be discovered until after you are dead. Needless to say, the convenience and cost savings of using a canned will can come back to haunt those you leave behind.

Now that you are sufficiently scared, this shouldn't dissuade you from buying and using a canned will. Instead, protect yourself by following these five common sense strategies:

Whether you make a will yourself, buy one pre-made, or have an attorney draft it for you, ignorance is definitely not bliss. Develop at least a basic knowledge of what is involved to protect yourself and your loved ones from harm.

When evaluating canned wills, one size does not fit all. Iron clad wills are put together based on a particular state's statutory and case laws (i.e., trial and error as a result of contested wills). Although they share many similarities, there is no way a generic will can take into account every formal or informal idiosyncrasy found among the states.

Check out the credentials of the canned will provider before shelling out your money. Though not necessarily a guarantee of success, a will published by an experienced and knowledgeable attorney or a reputable publisher of legal information is always preferable.

Just like with any other will, canned wills must be updated if your situation changes (e.g., remarriage, children need to be added or deleted) or you move to a different state.

Recognize the limitations of such wills and seek out competent legal advice if needed. Remember, though, that lawyers may use canned will making packages too.

Planning Tools A handful of states have created their own wills within their probate laws for people to use. This a great idea in theory, but hasn't worked well in practice (which should be evident by the small number of states offering statutory wills.) As the statutes themselves usually state, statutory wills are limited as to what they can do. They are also very rigid and must be followed exactly in order to be valid. Limited usefulness and inflexibility are not the makings of a great will. Nevertheless, these Statutory Wills may have some usefulness to you and may be sufficient to meet your needs.