Emma Faulkner, Associate at Holmes & Hills, explains the risks of writing a Will without professional legal advice and outlines the common mistakes that can occur in homemade Wills.
Quite often, people will ask us whether they need a professional to write their Will or whether they can do it themselves at home.
Whilst it is possible to create a legally binding Will yourself, it is always recommended that you speak to an expert legal advisor. This is because there are specific drafting and witnessing requirements which must be adhered to. You will also be able to discuss your Inheritance Tax position with your legal advisor.
Homemade Wills are more likely to contain mistakes or ambiguous drafting. Some of the most common mistakes we see in homemade Wills are:
An executor is the person or people who will manage your estate for you after you have passed away. Without naming executors, the Grant application can become complicated as it means that your residuary beneficiaries will have to apply for Letters of Administration with Will Annexed. These applications typically take longer to be approved and can delay the administration of your estate.
This is the clause found right at the end of a Will which confirms that it was signed freely in the presence of witnesses. If you do not include this, the Probate Registry will require Affidavits from your witnesses before they approve the application. This can cause problems for the people dealing with your estate, for example if the witnesses cannot be traced or have passed away themselves.
A homemade Will might only include cash legacies or might list specific assets or accounts. However, you must deal with the balance of your estate as well. This is known as your “residuary estate”. If you do not include a residuary estate clause, your estate will be partially intestate, which means the balance of your estate which has not been dealt with would pass to your nearest surviving relatives. This may not be in accordance with your wishes.
Witnesses to a Will must be independent and over the age of 18. Using the incorrect witnesses may not invalidate the entire Will, but it can invalid certain gifts. For example, if you leave your estate to your children, and use one of your children’s spouses as a witness, the gifts to that child will become void.
If a Will is drawn up at home, it is more likely to contain mistakes or ambiguous drafting. As professionals, along with expert drafting, we can also provide relevant information and advice in respect of potential claims against your estate and how to mitigate the risks of that occurring.
Wills are legal documents and they can be complicated, this is where our Will writing specialists can help. Contact our team at one of our seven offices across Essex and Suffolk.
Call 01206593933 and ask to speak to a solicitor about making or updating your will, or disputing a will. Or complete the form below.
Disclaimer
The content of this article is provided for general information only. It does not constitute legal or other professional advice. The information given in this article is correct at the date of publication.
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