It is common for people to shop around for quick, cheap solutions to problems they may face. DIY Wills and online Will writing services offer a cheaper alternative to solicitor and professional Will writing fees – but will the quick saving pay off in the long run?
Writing a Will is an essential way of ensuring that your wishes regarding the distribution of your assets and finances are known, making it easier for your relatives and loved ones to deal with your estate after you have gone.
DIY Will packs are available in many stationary stores and online. These services may be worth considering if your wishes are very simple and straightforward; for example, if you plan to leave everything to a spouse. However, it is also worth understanding the risk that comes with this DIY approach. An investigation by Money Mail found a string of pitfalls, and even though this alternative may seem cheap at first, in the future your family could face high fees.
The Downside to D.I.Y
Without any legal advice and support in the Will writing process, it is easy for mistakes to be made; and not discovered until it is too late.
Other errors or the document being poorly drafted, are likely to cause the Will to become ineffective, and prolong the probate process. These cut-rate legal documents have also been blamed for the rise in High Court disputes as when many questions are left unanswered, disagreements regarding the deceased’s wishes can arise.
These self-service approaches are also likely to miss out measures to avoid future problems. This includes things such as naming a substitute beneficiary in case an heir to your estate dies before you do.
Another significant risk of a poorly drafted Will is it being declared invalid in the eyes of the law; which means you will die intestate. In this circumstance, it will be up to the rules of intestacy law to decide how your estate will be administered, which may not be what you would have wished for.
Trust a Professional
We recommend seeking professional legal advice as people’s affairs are rarely simple and straightforward.
For further advice specific to you, or help with drafting your Will, we are here to help. Contact us today either just for a chat, or to arrange an appointment.