DIY Will writing? It could be the cheapest way to cost your loved ones more in the future. Here are 5 reasons to consider using a professional
While it is legally possible to write your own Will, the potential risk of a Will not being valid, or accurate to your wishes, could be extremely costly to your estate and your loved ones down the line.
Here are the top reasons why a professional Will writer is the best option to ensure you pass on everything exactly as intended.
1. The cost is minimal compared to the risk
While there is a one-off cost to use a professional Will writer, they have the knowledge and had the professional training to ensure the Will is legally sound. The legal fees that could be incurred in sorting out the estate, if your self-written Will doesn’t hold up, are likely to far exceed the initial cost of having a Will drafted by a Will writer with a proven track record. Is it worth the risk of leaving your estate exposed to potential costs and conflicts between loved ones if the Will is not legally sound?
2. A Will Must Have No Errors
If you write your own Will and you make a mistake, then pass away, you would not be around to correct any errors or explain your intentions. Some common errors we see with people who have self-written their Wills include: –
• Not signing the Will correctly
• Not telling anyone where the Will is stored
• Not updating the Will to reflect changes in your wishes
• Making updates that contradict previous parts of the document
• Writing notes in the margin and making changes by crossing out expired clauses directly in the Will.
This can cause great grief to your loved ones when you pass on, and any emotional burden can be minimised by using a professional Will writer.
3. Wording May Cause Confusion.
Self-written Wills can often contain language that is not specific enough and is open to being misinterpreted by family or even the courts. Will writers are used to working in a language known to be easily interpreted by executors, trustees, and beneficiaries, as well as the courts. This language ensures the wishes of your Will are implemented precisely how you intended.
4. Unexpected Scenarios
If you write your own Will, there are many scenarios that you may not consider or even think of, such as – What happens if you leave an asset to a relative and you outlive them? Who is responsible for the upkeep of your properties? It’s safe to say that a professional Will writer will have come across many situations like this and will be able to structure the Will in a way that covers such scenarios.
5. A Will writer can store your Will safely and keep you and your executors informed
One of the biggest distresses we hear about when someone passes on is that the family knows the person has a Will but were never told of its location. In some cases, the Will is kept in a place that is not accessible. For example, most people consider a bank safety deposit box an excellent place to keep their Will safe. Unfortunately, the Will may be useless, as a Grant of Probate will be needed to open the safety deposit box, but the Grant of Probate cannot be issued without presenting the Will.
Many Will writers offer a Will storage service, so you don’t have to worry about keeping your Will safe, and the best storage services include regular communications to your executors so that they are aware and reminded of the existence, and more importantly, the location of your Will.