11

May

Can I write my own Will?

With the number of DIY Wills available on the rise, you may be considering whether you should simply make your Will yourself.

As long as your Will is properly signed and witnessed it should be legally binding. But does this mean that making your own Will is the best option?

Getting it right

When making your own will without professional guidance, you can risk making mistakes which could mean that your wishes are not followed. In some cases, the Will may even be invalid if the wrong wording is used.

Many people may begin by thinking that they are only going to need a simple Will. However, the Will can be more complex than is first imagined. If you have young children, you may want to set up trusts which will allow them to access money when they reach a certain age.

You may also be interested in leaving money to charity in your Will. Although this may seem like a simple task, you could miss out on Inheritance Tax savings afforded to those donating certain amounts to charities.

Your DIY Will may not save you money

Much like missing out on potential savings in Inheritance Tax, a DIY Will may end up costing more money in the long run.

Errors in your Will can not only be financially costly, but can also lead to a great deal of difficulty in administering the estate.

It is also important to note that if you use a Will template, the company which supplied it will not take any responsibility for errors in your Will. You can find out more on the common pitfalls of writing your own will here.

A professionally written Will guarantees clarity

By speaking to a specialist solicitor about your Will, you can guarantee that your wishes will be met. Your solicitor will also be there to advise you on any aspects of your Will that you are unsure about.

At Future Planning Solutions, we would always recommend using a solicitor to draft your will, especially when:

  • You’re trying to reduce an Inheritance Tax bill
  • You own property abroad
  • You have foreign bank accounts or investments
  • You own a business which you are leaving to someone as part of your Will.

Speak to a specialist Will writing solicitor at Future Planning Solutions today

Here at Future Planning Solutions, our specialist solicitors in Lancashire are available to discuss your circumstances and provide any advice that you need on your Will.

You can talk to one our specialist will writing solicitors by calling us now on 01282 695 400.

Or if you don’t have time to talk to us right now, you can arrange a call back by completing our online contact form.

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