Should You Use a DIY Will Kit or Hire An Attorney?

 

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: DIY Will Kit

What Should Buyers Look Out For In a Property Contract?

Buying property is such a big purchase and commitment (one of the biggest most of us are likely to ever make) that the contract is not something you want to take lightly. It’s wise to go through it with a “fine-tooth comb” and equally as wise to discuss the finer details with both your agent and a legal representative who deals in property law and conveyancing.

Not only is it important to understand what the various clauses mean, but it’s also very important to understand what’s included in the contract and if there’s anything missing that should form a part of the contract.

Check the Details and Particulars

Even the most basic information on a contract is of vital importance. Check that your full name appears on the contract and that it’s spelled correctly. The name has to be identical to the name that will appear on your mortgage, otherwise, this could delay the finance process as well as requiring a contract amendment.

Is everyone purchasing the property included in the contract with the full name also spelled correctly? All parties must be listed on the contract if there are 2 or more purchasers.

Include Your Solicitor’s Details

Don’t wait for the contract to be signed to make reference to your solicitor. Include those details within the contract. It makes the entire liaison process much simpler.

Finance

If your ability to go through with the property purchase hinges on the approval of finance, then this must be stipulated in the contract. If you don’t, then you won’t be able to terminate the contract in the event that finance is not approved. Include finance amount, lending institution details, and finance date.

Building and Pest Inspections

This is also something that should be written into the contract. There is a section on the contract reserved for this, so be sure to insert the date for building and pest inspection. Failure to do so will likely mean you cannot terminate the contract if any building and pest issues arise upon property inspection. All contracts for property purchase should be the first subject to a satisfactory building and pest inspection.

Talk To A Legal Expert In Property Law

If you are located in and around Brisbane and need legal advice regarding your property contract, then get in touch with your local, experienced experts at Aylward Game Solicitors. We know property law, so you can contact with us.

Article Source: Property Contract