Wills and trusts are some of the ways individuals protect their estates and transfer any assets to their designated beneficiaries. This includes appointing someone to oversee the operation of your business. Making these decisions and putting them down in writing will ensure your wishes will be carried out should you become incapacitated or upon your death.

Wills and trusts software allows you to complete these forms without the expense of a lawyer’s service. The important thing is to find the estate planning software that addresses your personal and business needs. Suppliers of estate software have made acquiring the necessary wills, trusts and estate software education and training simple. Before selecting will and trust software you should:

1. Evaluate the benefits of will software, trust software and combination products.

2. Look for trusts and estate software that comes with tutorials or do-it-yourself instruction.

3. Search for providers of wills and trusts software who offer online technical assistance.

Action Steps
The best contacts and resources to help you get it done

Consider the advantages of will software, trust software and estate software

Estate planning software comes in different forms. Some products focus specifically on wills, others on trusts and some offer combination packages. Understanding the pros and cons of each type will help you identify the best product for you and your business.

I recommend: National Law Forms features software for wills and overall estate planning that is user-friendly. Products come with simple instructions, sample forms and access to an “Information Hotline.” FORE! Trust Software specializes in trusts, irrevocable trusts and Medicaid trusts. Educate yourself on using the trust software by taking advantage of the product’s free 30-day trial.

Take advantage of the tutorials that come with estate planning software

Most wills, trusts and estate software comes with easy-to-follow instructions and tutorials.

I recommend: LawFirmSoftware offers its users access to an extensive database of product tutorials and technical articles that users may access via email or by speaking with a customer service representative. All estate planning software comes with one year of product support. Standard Legal also features easy-to-use software for trusts. Products come with step-by-step instructions. Free technical support and attorney referrals are available to customers. One Source Trust & Estate Planning also provides free online Internet training and hands-on instruction for its trust and estate software products.

Look for suppliers of estate planning software who provide legal and technical support

Most will and trust software is self-explanatory. When it comes to those more complex issues, however, having technical assistance at your fingertips is a 'must.'

I recommend: Will software, such as Quicken WillMaker Plus, provides wide-ranging online legal manuals and online technical support for its users. Nolo features a variety of estate planning software, all of which offers customers free technical assistance.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Verify that the will and trust software is valid in your state, up-to-date with your state's laws and offers free poduct updates for at least one year.

Wills, trusts and estate software let you plan today for the inevitable tomorrow. If you die, will your estate go to your planned heirs? Will your business continue to operate with your appointed person at the helm? Don't take chances with the future of your family and business. Make your will and estate decisions now and protect your assets.

Estate planning can be as simple as purchasing software and filling in the blanks. Estate planning software exists as does software for last will and testament and trust fund software. Look at the following to choose the best wills, trusts and estate software for your needs:

1. Find suppliers of estate software that meets your criteria.

2. Plan your heirs future with trust software geared just for you.

3. Write your will today with will software that updates with your changing needs.

Action Steps
The best contacts and resources to help you get it done

Locate the estate software for your needs

Estate planning shows you how to get the maximum amount of your wealth to the beneficiaries you choose, while paying the least amount of taxes. Estate planning software will walk you through different scenarios to show you the best plans for your current situation. If your situation changes you can make adjustments accordingly right in the software program.

I recommend: National Law Forms Inc provides software for estate planning. Just fill in the blanks for your particular situation. This software is available for all 50 states so choose your state and begin your estate planning. EVP Systems offers free software (you pay only for usage) for valuing securities for estate planning purposes. Banks, accounting firms, attorneys and the IRS use their software.

Choose providers of trust software for your individual needs

A living trust puts you in the driver seat over your estate and how it will be distributed after your death. You can appoint anyone you like to be the trustee including yourself since you are still living. Trust software programs show you exactly what will happen, including tax consequences, according to the choices you make.

I recommend: FORE Trust Software provides wills and trusts software, irrevocable trusts and binders. Choose the program and download a free 30-day trial so you can try it before you buy. Standard Legal provides Living Trust Software that's valid in all 50 states. This consists of fill-in-the-blank legal forms to create all types of trusts including single or joint.

Select suppliers of will software and write that special document

It is never too soon to write a will since the consequence of death without a will can mean additional financial devastation for your potential heirs. Your estate will not just pass automatically to the beneficiary of your choice, so make these decisions official and legal with a will.

I recommend: Nolo will guide you through writing your will online. Choose the features you want and pay for this will after you complete it. Law Firm Software provides a complete will package with an auto-complete feature that saves time, since it will recognize names and other information that you repeat.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Wills, trusts and estate software are great tools to use to plan your inevitable future. However, after you fill in the blanks and are satisfied with the outcome, consult an attorney who specializes in estate planning to make sure you have made the best decisions possible for your particular situation.

Wills, Trust, and Estate planning is an ongoing process that helps individuals get their affairs in order. Care must be taken to determine how a person’s assets will be distributed, who will care for them if they are unable to make competent and informed decisions regarding their health care, and who should be designated as a beneficiary or heir to their estate.

Wills, Trust, and Estate software is designed to assist individuals and attorneys in this process. The key to successfully using these products is an understanding of the basic terminology.

Action Steps
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Probate

Probate is the legal process of gathering a person's property and belongings, paying off any debts, and distributing the estate to the beneficiaries named in the Will. The Will and the identified legal heirs must be proven and verified.

I recommend: Estatefinance.com elaborates on the probate process.

Beneficiary

Appointing a beneficiary is one way a person can transfer their property or other assets upon the event of their death. Typical beneficiaries are spouses, children, other family members and charities. Designating a beneficiary can also circumvent the probate process in certain situations. Some Wills, Trust, and Estate software packages allow individuals to name the beneficiaries for various parts of their estate.

I recommend: InvestorGuide provides information about a beneficiary’s role in the Wills, Trust, and Estate process.

Power of Attorney

A Power of Attorney (POA) is a legal document providing the authority to another person (usually an attorney) to make legal and financial decisions on behalf of the donor. There are different types of power of attorney, each bestowing different 'powers.' Forms to customize power of attorney agreements are part of Wills, Trusts and Estate software packages.

I recommend: E-law gives an overview on Power of Attorney and answers frequently asked questions.

Estate tax

An estate tax is one of the most long-standing and common means of taxation. This tax is imposed on the deceased individual's estate no matter how the estate is distributed. Estate taxes are generally applied to any assets that are bequeathed to a person's heirs. Most Wills, Trusts and Estate software will calculate and analyze an individual's estate tax.

I recommend: Investopedia provides more information on the details of estate taxes.

Assets

A person's assets take many forms, including financial investments, property, retirement accounts (IRAs and 401(k)s), life insurance policies or business dealings. Wills, Trust, and Estate software provides a vehicle for individuals to disperse their assets to a designated heir or beneficiary.

I recommend: InvestorWords offers several definitions of assets.