Can I write a Will myself?
Whitebrook Wills - Friday, March 06, 2015
We're often asked about DIY Wills and the reasons why we suggest that it's far safer to have an experienced Will writer draft the document, rather than try to do it yourself.
Legally, there is nothing to stop you from writing your own Will. However, the consequences of getting it wrong can be far-reaching.
A DIY Will is often fine for very simple circumstances and estates of smaller value – a husband with an estate of £250,000 leaving everything to his wife, for example.
Remember however, that in order to be valid, Wills must be worded correctly and witnessed by two independent adults at the same time, who are not beneficiaries. Any incorrect spellings of names, ambiguity or incorrect witnessing may well result in significant delays in the probate process or even render the Will invalid.
Wills should not be considered as a one-off document. Why? The reason is simple – the Will you prepare as a new parent at the age of 30 is unlikely to have any significance by the time you're a grandparent aged 70. Undoubtedly, the family unit will have altered several times, and relationships will be forged and lost over those four decades. These changes must be taken into consideration, but amending your Will is not as simple as crossing through existing content and adding new instructions in pen. Any changes in assets or beneficiaries must be reflected in a new Will.
It's worth remembering too, that a professional Will writer and probate practitioner will be able to advise you on how to structure your estate so that your beneficiaries will receive as much as possible, and the inheritance tax (IHT) liability on your estate will be minimised. By not seeking this advice and writing a Will yourself, your loved ones could potentially lose out on thousands of pounds.
