DIY Wills vs. Seeking Legal Assistance: Pros, Cons, and Risks
A will is one of the most important legal documents you will sign in your lifetime. It solidifies what happens to your belongings, money and assets after you pass away, ensuring that the people you intend to benefit from your will are indeed the ones that do so. There are two different ways of creating a will. You can do it yourself (DIY will) or seek legal assistance from a wills lawyer or estate lawyers to help you draft and finalise the legally binding document. In this article, Resolute Legal discusses the pros, cons and risks of a DIY will compared to one written by a legal professional.
DIY Wills: Pros and Risks
One of the main pros of doing a DIY will is that you can save a considerable amount of money. Hiring a wills and estates lawyer can be a costly expense and one that not all people can afford. By doing it yourself, you can save this money. Furthermore, if you have a straightforward family (no divorces, remarriages or complex relationships), it can be quick and simple to do it yourself. Some common risks include not getting a witness to sign off on your will or having the witness sign in a different colour pen. This can make the will non-legally binding. Another risk is that there are unexplained markings on the will, which may suggest there have been pages omitted without the knowledge of the owner of the will.
Seeking Legal Assistance
If you have a complicated family, or have a large number of assets that are to be divided between a number of different people, the writing of the will may become complicated. This may require the will to be written with certain legal wording, which a wills lawyer would understand far better than you. Estate lawyers and a wills lawyer properly understand the condition and wording that a will must have in order for it to be legally binding. Allowing them to take care of this, while working collaboratively with the client, may make the process more streamlined and easier.
To learn more about how to do a DIY will or to get in touch with a wills and estates lawyer, contact us today.