DIY will kits are becoming increasingly more popular and many are available for purchase online. Having a will is important on many levels, particularly if you have a sizeable estate, and even people with not much in the way of material possessions and money should still have some sort of will.
Do Your Own Will? Hire an Attorney?
But should you attempt to transcribe your own will just to try and save some money, or is that a task best left to a professional; hire a solicitor or hire an Attorney who specializes in wills and estates?
A DIY will kit can be handy in the sense that it’ll give you an idea of the types of things to include in your will, but it’s still highly advisable to have a trained professional prepare the will and distribute your estate.
Below are just a few reasons why DIY will preparation is not in your best interests.
The Cons of DIY Will Kits
DIY wills can often be unclear and ambiguous. They can even be misinterpreted and therefore left open to challenge by those in disagreement with the will.
Generally, when one prepares their own will, they are doing so to avoid involving a law firm. Therefore, they appoint a friend or family member as the executor of the will. Unfortunately, this person with their newfound responsibility likely doesn’t have the knowledge, experience or expertise to act as an effective executor, and therefore struggles to adequately fulfill the obligations bestowed upon them.
There is also the chance the executor has a conflict of interest, such as a business partner of the deceased.
If there is disagreement over the will between siblings, for example, how will you plan a resolution to that conflict and challenge when writing your own will?
Another common mistake is to leave assets to people that you either don’t actually own, or don’t fully own, such as a joint business or family trust.
And one of the most common problems with DIY wills is they get misplaced or lost and are unable to be found when the time comes.
Wills are an extremely important document and should be treated as such.
Call An Expert for Will Preparation
Don’t take chances. Have your will prepared and executed by a professional. At Aylward Game Solicitors in Brisbane, Gold Coast and Sunshine Coast,
We specialize in wills and estate planning, so trust one of your life’s most important legal documents to us and give yourself complete peace of mind.
Article Source: Wills and Estate Planning
