Wednesday, July 16, 2014
Not only is Walmart rolling back prices on toilet paper and snack food, but the store is now selling wills for only $99.
Axess Law has startedw offering legal documents to shoppers at several Walmart locations in Ontario, with plans to expand across Canada.
Although there are advantages to purchasing an inexpensive will, there are caveats. Many people are unaware that even the most minor legal language can have implications that consumers may not appreciate at the time. Furthermore, a will is just one piece of a larger plan that should encompass other documents such as powers of attorney and Do Not Resuscitate orders. “Estate lawyers frequently see the costly mess that is created when people die with a low cost will and a poorly planned estate that results in a lengthy estate process with thousands of dollars in unnecessary legal fees and higher estate taxes that easily could have been avoided.” Low-cost products and will kits place too much emphasis on wills being the only focal point of an estate plan. “By paying a little more for a will and proper estate planning advice upfront, will makers can rest assured their family will not be burdened by unnecessary taxes or be tied up in emotional court battles long after they’re gone.”
See Gail Johnson, Wal-Mart Wills: Should You Trust Estate Planning to a Big Box Store? Yahoo Finance, July 14, 2014.