DIY Wills and The Dangers

You may have put off writing a Will for a little while but have decided that now is the right time to get things sorted out so what now?

Your first thought may that it its ‘easy enough’ to put together a DIY Will but similar to it being ‘easy enough’ to fix the brakes on your own car, the ramifications of getting something wrong could be disastrous.

Issues to consider when making your own Will are those such as;

• Your estate may be complex and without specific planning, more inheritance tax may be payable on your death than necessary

• Certain gifts could fail and did you know that if a beneficiary witnesses your Will, any gift to them will be null and void?

• Your estate could be successfully challenged by a disappointed relative or dependent if the process is not completed correctly

• You may not appoint guardians or trustees to take care of the general and financial wellbeing of your children

By appointing a professional such as Beneficial Family Wills to create your legal documents you can be sure that we shall;

• Assess your overall estate including assets and liabilities to ensure that inheritance tax allowances are maximized
• Consider your family circumstances to ensure those who you wish to benefit actually do
• Offer guidance in relation to excluding someone from your will and the aspects you may wish to consider
• Discuss trust options to protect both your estate and your beneficiaries
• Confirm your mental capacity and ensure there is no undue influence to evidence you have complied with the formalities of the Wills Act 1837

Using professionals such as Beneficial Family Wills to get your inheritance plans in place can save you lots of stress and provide peace of mind to you and your family.

Not only do we comply with the Codes of Practice of our industry bodies (the SWW, IPW and IoP) but we also must maintain our knowledge via ongoing training and continuing professional development to ensure high standards are always maintained.