What you need to know about DIY Wills
DIY Will packs are becoming popular. They are cheap to buy and can be done in the comfort of your own home. They are cheap and currently many can be found for as little as £9.99. With the information and guides provided, you are advised about everything that you need to know. Are you though?
What about the guides to completing your will?
Detailed. The information supplied gives you lots of valuable information. However it is very time consuming to read it all and to understand it all properly.
Complete for all circumstances? Well the guides are standardised documents which might not cater for your particular circumstances and wishes.
There are detailed examples. But you might be unsure which one is right for you or whether there are other situations or variations which would suit better.
They are designed to give you confidence and peace of mind. There is no guarantee that what you want to achieve has been effectively put in the will? Without a professional doing it you are still gambling.
So DIY wills are cheap and you get a lot written guidance to help you complete them, but given the amount of time you will spend trying to make sure the will is what you want, does a professional’s fee really sound that bad? Plus aren’t you just gambling on getting it right. You wont be around to find out but getting it wrong could have enormous consequences for those you leave behind. The bottom line is that nothing takes the place of a qualified expert.
If you are set on the DIY will route then do check the following:
Do you understand all the clauses in your Will?
Do you understand the consequences of them?
Have you got the wording in your will correct?
Mistakes or ambiguity might cause the will to fail or some part of the legacy to fail
Have you left a family member out of the will?
Have you clearly understood the effects and provisions of the Inheritance (Provision for Family and Dependants) Act 1975 which may allow a claim against the estate by such a person?
These are just a few examples of what too many people do not take into consideration when writing their Will.
If you have a question or you would like some advice or you would like to arrange a visit please can call FREEPHONE 0800 878 6565 or 07942 959599 or use our contact us page and we will call you back.
Contact us today to get the peace of mind with a properly drafted will that ensures your loved ones are looked after
