23

Jun

Common pitfalls of writing your own will

It is well documented that everyone should have a will in place to ensure that when you die you’re wishes are met in full.

However, each year a vast amount of people make the mistake of drafting their will without any legal assistance.

In this article, we take a look at the common risks that writing your own will can bring and why you should always seek expert legal advice when deciding to draft any legally binding document.

To speak to a legal expert about writing your will, contact the team at Future Planning Solutions by calling us now on 01282 695 400.

The dangers of ‘DIY’ wills

Many people decide to write their own will as it is a cheaper alternative to getting legal assistance.

But there are multiple issues that can arise from drafting your own will, and some of these issues can cause additional difficulties and expense for the loved ones you leave behind.

DIY wills vastly enhance the chances of mistakes being made.

As long as your will is legally valid, mistakes you could potentially make when distributing your assets cannot be argued in court and could cause a lot of additional heartache and agony for the intended recipients.

Invalid wills

Furthermore, more serious errors that you could potentially make while constructing your own will could result in your will not being legally sound and therefore becoming ‘invalid’.

If this turns out to be the case, significant implications can follow which could leave your loved ones in emotional and financial disarray.

If a will is declared invalid, the requests on the invalid will are bound to be disregarded. If a previous will has been made, the wishes from this are likely to be enforced instead, no matter how old or outdated that will may be.

If there is no previous will in place, then the estate will be shared our according to intestacy rules. This means that if your DIY will does turn out to be invalid, you will have zero control over who will inherit any of your assets.

Additionally, the cost of attempting to deal with intestacy rules could mean that legal bills and additional tax will eat away at what you’ve left behind.

When DIY wills should DEFINITELY be avoided

In all cases, we would advise that you avoid constructing your own will.

However in some cases, writing a will on your own is severely off-limits.

We strongly urge you to contact the specialist will writing solicitors at Future Planning Solutions for expert advice should any of the following circumstances apply to you:

  • You own property outside of the U.K
  • You have any foreign investments
  • You have any foreign bank accounts
  • You are trying to reduce your inheritance tax bill
  • You are leaving someone your business/company
  • There are people who are financially dependent on you
  • You have any additional complex wishes in your will

Why choose Future Planning Solutions for help writing a will?

By letting us help you compose your will, you will gain peace of mind by nullifying the chance of any mistakes being made when writing your will and therefore making things much easier for your loved ones when you leave them. You can read more about the benefits of our specialist will writing service here.

Or, if you’d would like to talk directly to one of our expert will writing solicitors, call us now on 01282 695 400.

Alternatively, you can start the process by leaving us with a few quick details on our online contact form.

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