Do-it-yourself solutions are increasingly popular, look at IKEA furniture, and it’s tempting to consider drafting your own Will to save time and money. People seem less adverse to taking on DIY projects since Covid. We saw an increase in people doing home renovations, even building their own campervans, and upcycling furniture. It might seem like a good idea and often it is, but when it comes to estate planning, the allure of a quick and cost-effective fixes can lead to unforeseen complications that may burden your loved ones after you’re gone. At APT Legal, we understand the critical importance of a professionally prepared Will, and we’re here to shed light on the potential pitfalls of the DIY approach.
First, a quick and somewhat amusing story…
If you follow us on social media, you will have seen one of our recent posts about the TRUE story of a client who thought it might be fun to write their own Will on a beer mat whilst out with friends. Whilst it was written correctly and observed the formalities for a proper legal signing, it was fundamentally flawed. The testator (the person making the Will) didn’t appoint executors, didn’t have residuary beneficiaries, didn’t appoint guardians for their children, and kept the Will vague which created uncertainty. We’re pleased to say that this has now been re-written.
A Surge in Inheritance Disputes
Speaking to several contentious probate solicitors, they’re seeing a rise in inheritance disputes. This surge is largely attributed to the growing number of people being unhappy with their ‘lot’. It might be that increasing financial burdens facilitate the need for an inheritance but then what comes, if it doesn’t meet expectation, then sometimes the only way to get more is to fight for more through the courts. It can be increasingly more risky if the Wills are DIY Wills. What cam make matters worse for DIY Wills is complex family dynamics, such as second or third marriages. They can make asset distribution a contentious issue. When a Will isn’t meticulously crafted, it becomes vulnerable to challenges that can divide families and deplete estates.
Short-Term Savings, Long-Term Costs
While drafting your own Will might seem like a cost-saving measure initially, any mistakes can lead to substantial legal fees down the line. Wills are legal documents that require precise wording and adherence to specific formalities. A single misstep can render a Will ambiguous or even invalid. Rectifying these errors often involves lengthy legal proceedings, causing stress and financial strain for your beneficiaries. If you’ve gone through the effort of making a Will in the first place, chances are it’s because you’ll like your wishes adhered to. Those wishes, and our Will is only actioned after our demise so it’s important that we get it right first time.
The Risks of Improper Execution
One of the most common issues with DIY Wills is improper signing and witnessing. If a Will isn’t signed and witnessed correctly, it may be deemed invalid, resulting in your estate being distributed according to intestacy laws or a previous Will. This means your assets might not go to the people you intended, and your final wishes could be completely disregarded.
Moreover, the witnesses to your Will must be entirely independent. If a beneficiary or their spouse acts as a witness, they could lose their entitlement to any gifts or shares of the estate mentioned in the Will. It’s practical to have a neighbour from each side attend the attestation (signing) and have this supervised by the firm writing it (like APT Legal).
Navigating Complex Legal Language
Legal terminology known as legalese can be challenging to interpret without professional assistance. Misunderstandings or vague language in a DIY Will can lead to disputes over your intentions. This not only risks your wishes not being fulfilled but also opens the door to costly and emotionally draining legal battles among your loved ones.
Failing to Account for Life’s Changes
Life is unpredictable, and circumstances change. DIY Wills often fail to account for significant life events such as marriage, divorce, the birth of children, or acquiring assets. For instance, getting married can automatically revoke a prior Will unless it’s made in contemplation of marriage. Without proper legal guidance, your DIY Will might not reflect your current situation, leading to unintended consequences.
The Advantages of Professional Will Drafting
By engaging a professional like our team at APT Legal to draft your Will, we ensure that it is legally sound and tailored to your unique circumstances. We can help you navigate complex situations, provide tax planning advice, and incorporate clauses that protect your estate from potential disputes. We can also assist in drafting a “Letter of Wishes” to explain the reasoning behind your decisions, which can be invaluable if your Will is ever contested.
How APT Legal Can Help
If you have concerns about a DIY Will or need assistance in drafting a new one, we encourage you to reach out to us promptly. Time limits can apply when challenging a Will, so immediate action is crucial.