According to a report in the Law Society Gazette, the popularity of DIY wills has resulted in a marked increase in probate disputes. In 2019, there were 368 inheritance disputes in the high court, up from 227 in 2018, and this is allegedly due to the rise in popularity of DIY wills (This has supposedly risen by another 37% up to 2022). People who choose to make a DIY will often fail to fully understand the implications of what they have put in the will, leading to conflicts and disputes between family members that can only be resolved in court.
The COVID-19 pandemic has brought the importance of having financial affairs in order to the forefront of people's minds. Despite death being a sensitive and challenging topic for many, discussing plans in advance can help you and your loved ones prepare emotionally, practically, and financially.
The pandemic has resulted in a surge of DIY will writing, likely driven by the desire to save money. However, while it may seem like a cost-effective approach, creating a will without the assistance of a professional could result in problems and end up costing more in the long run. With the current cost of living crisis, not being able to access funds for months or years after the primary earner's death could worsen the situation for families.
The legal process of writing a will is complex, and without proper understanding of the process and terminology, it is easy to make mistakes that could invalidate the will or leave it open to challenge.
To prevent such disputes, Christine Blacklaws, the president of the Law Society, recommends that people think twice before making a DIY will and seek expert help instead. Making a will with the help of a solicitor minimises the possibility of ambiguity when it is eventually read to the beneficiaries named in the will. It is important to note that not all wills are mistakes, and a well-written will made with the help of a solicitor is hard to dispute.
Note That Not All Wills Are Written With Mistakes.
When you create a will, you have the power to decide where your assets should go. A professionally crafted will, with the aid of a solicitor, is less likely to be disputed. Moreover, it is even better to consult with potential beneficiaries beforehand to ensure a smooth and timely probate process. A will is a legal document, and it should be clear, concise, and free of ambiguity when it is ultimately presented to named beneficiaries.
When it's Not a Good Idea to Write a DIY Will
There are situations when making a DIY will is not advisable. For instance, if you:
- have foreign bank accounts and investments
- own property abroad
- want to reduce your inheritance tax bill
- intend to leave your business to someone named in your will
- have financially dependent individuals who are not close family members, or
- have made a will that includes wishes that could be misunderstood.
Avoid the Risks Associated with DIY Wills
It is essential to consider the risks associated with making a DIY will. If the wording is incorrect or ambiguous, it could stir up trouble among family members who are trying to decipher it. Serious errors could even invalidate the will, and the court will then decide who the beneficiaries of your estate will be. In summary, it is crucial to seek expert help when making a will to prevent probate disputes and ensure your wishes are carried out as intended.
Curtis Legal can help you with all things wills and probate. Contact us to arrange a consultation and protect your wishes for the benefactors of your will.
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