Should I make a DIY Will?
Sep 15, 2015
DIY Wills have been surging in popularity since the economic downturn as people see that it is a good way to cut costs and save money whilst still protecting their family, but what are the downsides of a DIY Will?
In order to be legal, a Will has to contain a number of items and also meet a number of criteria. If any of these details or conditions are not met, the Will you prepare will be invalid. Although this may not seem like a big problem, these issues will not surface until after you have died and as a result, you will be classified as dying intestate – which means you have no valid Will.
This means that none of the choices or decisions you made will be followed and the laws of intestacy will be, which may mean your loved ones or family may not inherit anything at all from your estate.
In order for your Will to be valid you must have capacity to make one. The Will must be made in writing and be signed by the testator (the person making the Will) and this signature must be witnessed by two people at the same time, who must sign to confirm this. These witnesses cannot be a family member or related by marriage, nor can they be anyone who is a beneficiary of the Will.
Due to the chances of getting a small detail wrong, and the high stakes for your loved ones if you do, you should ask yourself the question if a DIY Will is really worth the risk?
For advice from a specialist solicitor about making a Will, please call Gareth Horner on 01264 325834 or email him: email@example.com and he will be happy to help.
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