September 17th, 2020
More and more transactions are done digitally, but estate
planning has lagged behind technology. That may be changing, though. Even
before the coronavirus pandemic made social distancing necessary, electronic
wills were gaining legitimacy.
An electronic will (or “e-will”) is a will that is created
completely electronically, without paper and ink, including using digital
signatures. The Uniform Law Commission -- an organization that provides states
with model legislation they can adopt -- recently approved the Electronic Wills Act, which provides a framework for a valid
electronic will. Under the Act, states determine how many witnesses are
required or if a notary is required. Each state can decide whether the
witnesses and notary must be physically present or if remote or virtual
presence is permitted. The will has to be in text form, meaning that video and
audio wills are not allowed. Once the will is signed, witnessed, and notarized
(if required), the will is
In addition to convenience, electronic wills could have some
other benefits. If a will is stored online, it could be harder to lose the
original copy. If the witness and notary verification process is remote, it can
be recorded and stored with the will, so that the process is transparent. But
there are concerns that electronic wills could be more subject to undue
influence if a lawyer isn’t there in person to explain the details and witness
the signing.
So far only Utah has enacted the Electronic Wills Act, but other
states have their own laws that allow electronic wills. Nevada, Indiana,
Arizona, and Florida have passed laws authorizing e-wills. California, the District
of Columbia, New Hampshire, Texas, and Virginia have considered e-will
legislation, but have not yet adopted a law. During the coronavirus pandemic,
New York and Connecticut have issued executive orders allowing for the
temporary electronic notarization or execution of wills.
Digital technology is only becoming more prevalent, so it seems
likely that electronic wills are going to become more common, but there are
questions as to how they will work in practice.
For a New York Times article on electronic
wills, click here.
For more information about estate planning, click here.
https://www.elderlawanswers.com/will-electronic-wills-be-the-new-normal-17935?
No comments:
Post a Comment