Downsides of a DIY Will

Why do I need a will?

Having a will allows you to decide who benefits from your estate after your death – and who doesn’t. You can also appoint guardians for your children, protect your assets, and provide support and stability for your loved ones.

Why do I need legal assistance?

Having a will professionally drafted can reduce anxiety and costs in the long run. There are risks involved in a DIY will, which can result in the will being declared invalid or partial intestacy.

Some risks include:

• People trying to show they were the beneficiaries of a poorly drafted will with ambiguous terms

• There’s a specific language used in legal documents, and the implication of a certain word could affect the intentions of your will

• If your will is invalid due to mistakes, your estate may be inherited by people you do not wish to benefit

• Will clauses are specific and intricate – a misplaced will clause could lead to lack of context and potential errors

What could go wrong?

Ask yourself the following questions. You’ll need to know specific answers to each question in order to successfully draft a valid will.

Executors:

• Why do I need an executor?

• How many should I have?

• What will happen if I don’t name anyone as my executor?

Trustees:

• Do I need a trustee?

• How many?

• What happens if I do need one but haven’t specified who?

• Do they have to be the same as my executors? Can they be different?

• Why might I want different types of trustee?

Guardians:

• Why do I need to choose guardians?

• What will happen to my infant children if I don’t specify any guardians?

• What role would the Family Law Courts have in deciding who will raise my children?

• How many guardians can I appoint?

• Will there be disputes if I appoint more than one?

Gifts:

• What happens if one of my beneficiaries dies before me? What happens to the gift?

• Will it automatically pass to someone else?

• Should I name provisions for ‘back up’ beneficiaries?

• What happens if I don’t own that asset anymore?

• What if I have several assets of the same description e.g. cars that have different financial value?

• What if some of my intended gifts need to be used to pay debts or inheritance tax?

Beneficiaries:

• What is the law around infants receiving assets or money?

• How do I leave inheritance for a minor?

• How will that inheritance be protected until they are mature enough to become responsible for it?

• What happens to my pets?

• Can I leave something to charity? How do I do that?

Ensuring the will is valid:

• What is a witness?

• How many witnesses do I need?

• Who can my witnesses be?

• Can I amend my DIY will at a later date?

• What is the effect of amending my will? 

• How do I know if the amendments will be legal?

If you have already written a DIY will, we can still help you. We can assist you in rectifying it and take the stress way from wondering if you’ve written it correctly.

Each person’s circumstances are different, but our specialist solicitors can assist you, even in what you may think are the most obscure of situations.

A poorly drafted will may be invalid, which can lead to expensive consequences, both financially and emotionally.

Get in touch with us today to ensure your will is correct and legal.