The Pitfalls of DIY Wills
15 Feb 2018
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Off the Shelf
A do-it-yourself Will is a legal document you can prepare yourself using a template, a pack or an online service. It will contain the details of how you would like your money and property to be distributed. But Wills are complicated legal documents; it may appear cheaper and easier to write your own Will, but just one mistake can mean paying a much higher price overall.
Common Mistakes In Writing Your Own Will
DIY Will writing can seem very appealing, especially as the initial costs are less than using a Solicitor. However, using them can be risky and Hepburn Delaney have advised in many situations where mistakes have been made. If any error is made, no matter how tiny, the document may either be invalid or have consequences which are not what was intended.
Writing a DIY Will could have serious repercussions for your family and beneficiaries. Not only will they have to deal with the emotional and practical difficulties arising from uncertainty caused by the Will at a stressful time, but their potential inheritance could be spent on unnecessary tax bills and legal costs.
The Complexities of DIY Will Writing
Even if your affairs seem simple, the do-it-yourself approach can be far from straightforward. Writing a DIY Will often does not allow for changes in circumstance, for example, if you get married or have children after you have made the Will. However, if you use a Solicitor, they can prepare your Will in preparation for any anticipated changes. This means you only need one Will to cover those eventualities, rather than numerous DIY Wills every time your circumstances change.
Should You Seek Professional Advice?
Drawing up your Will correctly by seeking expert guidance ensures that your assets and savings are distributed according to your wishes. If there is no valid Will in place when someone dies, the rules of intestacy will apply. This could mean that your assets may not be distributed how you would have liked, and your money, property and belongings may not be passed on to the people you want to receive them. Seeking advice is important, particularly if there are any complications, or if you would like conditions to be added, for example, if you are co-habiting and would like your partner to benefit, or if you would like to let people know how you would like your children to be cared for.
Hepburn Delaney Solutions
Our specialist team of Will Trust and Probate Solicitors at Hepburn Delaney can make sure that your Will is prepared and finalised correctly and cost-effectively, so that nothing can be misinterpreted, and everyone receives the benefit you want them to receive. A correctly drawn up Will is the only way to ensure that your wishes will be met. Contact us to talk through your Will requirements. We are here to help.