Although a DIY Will kit may look appealing at first glance as it can be quick, easy, straightforward, and cheap, but in most cases, a budget Will ends up costing loved ones a large sum of money in Court fees if the Will is disputed, or worst case, totally invalid. If this happens, there will be an intestacy, meaning your estate will be distributed according to statutory rules and not according to your wishes. By opting for a ‘cheap’ Will there are other risks and potential consequences that may arise.
- Gifts or inheritance in a DIY Will – If requests within the Will are not stated correctly or clear enough, wishes regarding gifts or inheritance could be ruled as void.
- Are there guidelines to drafting a Will? – Wills must follow specific rules and regulations. Solicitors will ensure these are followed when drafting a Will. Failure to comply with these could result in your Will being deemed invalid.
- Risk of any claims – Lack of legal advice puts you at risk of dependency claims. If you have not benefitted a loved one who is financially dependent on you, your estate could be at risk.