Why DIY Wills Are To Be Avoided
Technically anybody can draft their own ‘home made’ Will and it can be tempting to try to avoid paying someone else for the pleasure. Sometimes however, dodging small upfront charges turns out to be more costly in the long run.
So perhaps rather than asking yourself ‘Can I can do it?’ the question should be ‘Can I do it well?’
“Will writing is often viewed by many as an ‘easy’ task but there are lots of potential pitfalls,” warned Private Client Solicitor at Pearson Solicitors
“Common mistakes include accidentally omitting beneficiaries, drafting an incomplete document which does not deal with all assets, or failing to appoint an Executor. In the worst case, a DIY Will may be void if it does not meet the legal criteria for validity,” she added.
In contrast, having a professionally drafted Will ensures that your wishes are properly documented and that only your intended beneficiaries inherit your Estate.
“!”Your Solicitor will know what questions to ask, how best to achieve your objectives and whether you need to consider any wider issues, such as tax mitigation. So seeking proper advice could actually have wider benefits," said Private Client Solicitor
Of course, the main purpose of making a Will is to ensure that your family are taken care of and that dealing with your Estate is as easy as possible for them. If you have a number of beneficiaries and your finances are complicated, it is especially important that you get a trained Solicitor to draft your Will - Why make your death harder for your loved ones than it needs to be?
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Please note that the information and opinions contained in this article are not intended to be comprehensive, nor to provide legal advice. No responsibility for its accuracy or correctness is assumed by Pearson Solicitors and Financial Advisers Ltd or any of its members or employees. Professional legal advice should be obtained before taking, or refraining from taking, any action as a result of this article.
This blog was posted some time ago and its contents may now be out of date. For the latest legal position relating to these issues, get in touch with the author - or make an enquiry now.