With so many DIY will kits available online, you might be tempted to save some money by taking care of it yourself. Roger Peacock, legal counsel at ZEDRA highlights the dangers of DIY wills.
He states that there have been many cases where DIY wills have led to disappointed beneficiaries, costly and lengthy processes and even court cases over the years. Such problems could easily be avoided with a professionally drafted will.
We take a look at why DIY wills might not be the best idea.
[top_pitch]
Are DIY wills legal in the UK?
The gov.uk website states that you can write your own will. However, for a DIY will to be legally valid, you must:
- Be 18 or over
- Make it voluntarily
- Be of sound mind
- Make it in writing
- Sign it in the presence of two witnesses who are both over 18
- Have it signed by your two witnesses in your presence
Can I make my own will without a solicitor?
Though you can, it is not recommended. A DIY will might seem an attractive option, but it’s a risky approach to take with something so important.
Without a solicitor’s guidance, you can make errors. You may also fail to correctly follow the strict witnessing rules mentioned above. If this happens, your will can be deemed invalid upon your death.
Roger Peacock advises that something as simple as a misspelling can change the meaning of the whole will. He also adds that most DIY wills don’t allow for changes. If your circumstances change, problems may arise.
[middle_pitch]
Where can a DIY will go wrong?
If you make a mistake, your loved ones, who are already likely to be feeling overwhelmed, may not benefit from your wishes. Costly and lengthy processes and court cases can eat up your legacy through legal fees and unnecessary tax payments.
Roger Peacock states that there are case studies where trusts are created by accident and the testator is appointed as the executor. If the latter happens, there’s no way that you can execute your will from beyond the grave. Without an executor, intestacy laws apply.
Additionally, if a will is deemed legally invalid, your estate may have to be distributed following the intestacy laws. Your loved ones may not benefit.
Do I need a solicitor for a will?
As mentioned earlier, it’s not a must to use a solicitor when writing a will. However, using a solicitor makes a lot of sense.
They’re experienced and know their way around legal, tax and property issues. You are also less likely to make mistakes when using a solicitor. Using a solicitor provides some level of guarantee that your loved ones won’t have problems after your death.
Every person’s circumstances differ. DIY will kits may not cater to these differences, meaning mistakes can easily be made.
A solicitor can review your circumstances to ensure your will fully meets your needs. A professional can also help you understand the potential implications of the gifts you intend to make under the terms of the will.
Lastly, a solicitor can draft your will using carefully chosen legal wording that has stood the test of time. Without this knowledge and experience, you may not be in a position to reflect these details on your DIY will.
