5 Big Mistake of DIY Wills
How do I make a Will myself?
The easiest way is perhaps to get a reformatted form from a stationery shop and fill in the blanks. This is very dangerous.
Thousands of DIY Wills fail every year.
What about online Wills?
There are sites that will produce a good quality Will by you answering a set of questions. However this is high tech way of making a DIY Will.
The consequence of you getting it wrong can be very costly to your wealth.
1. Spelling Mistakes
As trivial as it may seem but people ruin their DIY Wills because of spelling mistakes.
2. Unsuitable People
People are appointed in the Wills that are unsuitable e.g. they may appoint executors that are not living in UK or are in prison or underage children.
3. Lack of understanding
Because they may have read some stuff on the internet or a newspaper article, people feel qualified to document their Last Will and Testament.
We have undergone a lot of studies and exams to be able to advise people of wealth transfer.
Grasping how to settle your estate requires a lot of skill and knowledge that cannot be gained from reading a few internet sites or leaflets.
4. Giving away wrong things to wrong people
Gifts are made to people that have died or moved away. Or simply the gift doesn't exist e.g. 'I give my Ford fiesta to John Smith'. The car was sold a few months later!
5. The biggest mistake
The Will isn't executed properly. This means that it hasn't been signed and witnessed correctly.
This mistake accounts for most Wills being thrown out by the Probate courts.
How do I make a Will myself?
The easiest way is perhaps to get a reformatted form from a stationery shop and fill in the blanks. This is very dangerous.
Thousands of DIY Wills fail every year.
What about online Wills?
There are sites that will produce a good quality Will by you answering a set of questions. However this is high tech way of making a DIY Will.
The consequence of you getting it wrong can be very costly to your wealth.
1. Spelling Mistakes
As trivial as it may seem but people ruin their DIY Wills because of spelling mistakes.
2. Unsuitable People
People are appointed in the Wills that are unsuitable e.g. they may appoint executors that are not living in UK or are in prison or underage children.
3. Lack of understanding
Because they may have read some stuff on the internet or a newspaper article, people feel qualified to document their Last Will and Testament.
We have undergone a lot of studies and exams to be able to advise people of wealth transfer.
Grasping how to settle your estate requires a lot of skill and knowledge that cannot be gained from reading a few internet sites or leaflets.
4. Giving away wrong things to wrong people
Gifts are made to people that have died or moved away. Or simply the gift doesn't exist e.g. 'I give my Ford fiesta to John Smith'. The car was sold a few months later!
5. The biggest mistake
The Will isn't executed properly. This means that it hasn't been signed and witnessed correctly.
This mistake accounts for most Wills being thrown out by the Probate courts.
