Making a Will is one of the most important steps an individual can take to protect their loved ones and ensure their wishes are carried out after death. With the growth of online will-writing services and downloadable templates, many people are choosing to create their own DIY wills without seeking legal advice. Whilst DIY Wills may appear to be a cost-effective and convenient option, it can lead to significant legal and practical issues if not completed correctly, potentially costing families far more in money, time and stress through disputes and delays.
Can a DIY Will be invalid?
Yes, one of the most common issues with DIY Wills is that they often fail to comply with the legal requirements for validity. A Will must be properly signed and witnessed in accordance with Section 9 of the Wills Act 1837. An error, such as having a beneficiary act as a witness, can create complications and invalidate that beneficiary’s entitlement under the Will.
If a Will is found to be invalid, the Estate may be distributed under the Rules of Intestacy rather than according to the Deceased’s wishes. This can produce outcomes that differ significantly from what the individual intended.
For example, unmarried partners do not benefit under the Intestacy Rules, regardless of the length of the relationship.
Ambiguous or Unclear Wording in DIY Wills
Will drafting requires precision and skill, and DIY Wills often contain vague or ambiguous language that can lead to disputes about interpretation. For example, a clause leaving assets to “my family” may seem straightforward, but questions can arise regarding who is included within that term.
Poorly drafted Wills can result in differing interpretations, creating uncertainty and increasing the likelihood of conflict. In some cases, beneficiaries may need to seek Court intervention to determine the Deceased’s intentions, adding significant expense and delay to the administration of the Estate.
Even seemingly ‘simple’ gifts can cause problems if assets are not accurately described or if circumstances change before death.
Failure to Consider the Full Estate
Many individuals preparing their own DIY Wills focus only on their most obvious assets, such as property or savings. However, modern Estates often include pensions, business interests, digital assets, investments, life insurance policies and jointly owned property.
A DIY Will may fail to address these assets appropriately or overlook how they pass on death. Without a comprehensive understanding of Estate Planning, individuals may unintentionally leave gaps in their arrangements, creating complications for their Executors and beneficiaries.
Digital assets, including online banking accounts, cryptocurrency holdings, and social media accounts, are increasingly important considerations that are often overlooked.
Tax Planning Opportunities May Be Missed
Inheritance Tax can have a significant impact on the value of an Estate. Professional advice can help individuals structure their Wills in a way that maximises available exemptions and mitigates the Inheritance Tax payable.
DIY Wills typically do not take account of tax planning opportunities, meaning beneficiaries may receive less than they otherwise could have. What appears to be a saving on legal fees could ultimately result in a much larger tax liability for the Estate.
Changes in Circumstances
Life circumstances change over time, whether through marriage, divorce, the birth of children, or changes in financial circumstances, and each of these events can have a significant impact on an existing Will.
Individuals using DIY Wills may not fully appreciate how these events affect their Estate Planning. A Will that was suitable when drafted may become outdated or ineffective. Professional advisors can ensure Wills remain up to date and continue to reflect the client’s wishes.
Regular reviews of a Will can help identify issues before they become problematic and ensure it continues to meet the individual’s objectives.
Protecting Vulnerable Beneficiaries
Many DIY Wills fail to consider whether beneficiaries require additional protection.
A beneficiary may be young, vulnerable, financially inexperienced, suffering from ill health, or going through difficult life circumstances. In these situations, leaving an inheritance outright may not always be in their best interests.
Solicitors can advise on the use of Trusts and other protective arrangements to safeguard assets whilst ensuring beneficiaries still benefit from the Estate.
Appropriate planning can also help protect assets from potential risks such as bankruptcy, divorce, or financial exploitation.
A professionally drafted Will provides peace of mind that an individual’s wishes have been accurately reflected and that their loved ones will be protected when the time comes.
Should I use a Solicitor to draft my Will?
Using a Solicitor to draft your Will helps ensure that your wishes are carried out exactly as intended. While your Estate may appear straightforward, even seemingly simple circumstances can involve complex legal, tax, and practical considerations.
A Solicitor can provide tailored advice on matters such as property ownership, Inheritance Tax planning, trusts, and vulnerable beneficiaries. They can also ensure your Will is legally valid, clearly drafted, and reflects your personal circumstances. This reduces the risk of disputes, delays, or unintended consequences for your loved ones.
By seeking professional legal advice, you can have confidence that your Will forms part of a comprehensive Estate Plan and provides the protection and peace of mind your family deserves.
Speak to our Private Wealth and Inheritance Team
At Herrington Carmichael, we can assist you with drafting a professionally prepared Will, tailored to your personal circumstances and future wishes. We provide clear, practical advice on all aspects of Will drafting, Estate Planning, helping you protect your loved ones, provide for future generations, and ensure your affairs are in order with confidence and peace of mind.
If you want to find out more, please contact us to discuss your circumstances and take the next step in protecting your family’s future.
