Ellie Hooson is a trainee solicitor in our Wills and Probate department, in our latest blog, she considers whether or not cutting the cost on the drafting of your Will is worthwhile.
Writing a Will is one of the most important things you can do to protect the loved ones that you leave behind. Most will have seen the DIY Will packs that can be purchased off the shelves, but whilst it may seem simple and cost effective, it can come with serious risks that may impede the ability for your loved ones to fulfill your wishes after death.
Here, I mention just some of the issues that may arise.
Ambiguity
Legal challenges often arise when the wording of a Will is not clear and is open to interpretation, leading to confusion as to what the testator intended. Solicitors spend years training how to write legal documents so as to ensure that this is not the case. Whilst it may not seem overly important, precise and unambiguous language used by a solicitor can be the difference between an prolonged and expensive legal battle between family members after death.
Family disputes
Due to the informal nature of DIY Wills, this can potentially raise issues with family members over questions of capacity, undue influence, or fairness.
Disputes between family members can be costly, time consuming and emotionally draining for all involved. Sadly, homemade Wills are the breeding ground for such conflict.
Failure to account for different scenarios
It is often the case that family structures are not simple, which means the Will may need tailoring specifically to account for this. Our solicitors are well equipped to deal with all the “what ifs!” that may arise in the future, meaning you are less likely to need adaptations to the Will in the future should the “what ifs” become reality.
Overlooking estate planning
Whilst drafting your Will is about setting out your wishes, particular estate planning tools can frequently be overlooked meaning that your DIY at home Will, whilst cheap, may not fully protect your beneficiaries. A Solicitor can help structure your Will to preserve as much of your wealth as possible.
Expert legal advice
When you use a solicitor to draft a Will, you are not just getting a document, you are getting expert guidance and safeguards against error. Homemade Wills do not offer such protection and therefore it is fair to conclude, you are also receiving the peace of mind that your wishes will be fulfilled once you pass!
Whilst any mistakes made within a DIY Will may seem simplistic, they can completely derail your intentions. The potential consequences of errors, omissions or ambiguity for family members can be devastating.
Your Will and your wishes are too important to leave to chance. A small investment now can save your loved ones significant time, money and stress in the future.
Ellie Hooson is a Trainee Solicitor in our Wills and Probate department. For more information, please contact her on 01706 525053 or email her at ellie.hooson@lancslaw.co.uk
