5 Mistakes to Avoid When Writing Your Will25th June 2021
The death of a loved one is difficult to handle. It can be even more difficult when you are left without the necessary paperwork and information that will help you move on with your life after their passing. This blog post discusses 5 mistakes to avoid when writing your will in order to ensure that this does not happen to you or someone you love.
Mistake Number 1 – Not getting around to updating your will
It’s important to keep a will up-to-date. If you don’t have a will, or it’s been some time since your existing one was signed, it is wise to make a new will as soon as possible. The cost of updating a will may be much less than putting right the consequences of an outdated document which does not reflect current circumstances or how you would like your estate distributed. For example: if someone has had children since their last will then they should update it immediately so that children are taken properly into consideration.
Mistake Number 2: Unmarried partners believing they will automatically inherit
“Common law partners” do not inherit, except under a will. So, it is vital that you make a will if you are unmarried and wish your partner to inherit.
Mistake Number 3: The will is not correctly witnessed
When you plan to sign your will, and have it witnessed, then make sure that the witnesses are over 18 years old and not related to you or anyone who benefits under the will. A witness is someone who sees the document being signed and adds their signature to the will to confirm that they have. It is very easy to get the signing or witnessing of a will wrong and any mistake makes the will completely invalid.
Mistake Number 4: The executor has been named but no one knows how to contact them
The executors are the people appointed by a will to administer an estate. It’s their responsibility to pay off debts, distribute any cash or property you leave in your will and oversee the sale of anything that isn’t given specifically to someone. It is vitally important that any executor will be contactable and is able to do the job, for that reason we often recommend having replacement executors lined up under your will.
Mistake Number 5: Not instructing a solicitor to prepare and finalise your will
When you write your own will it’s important that its meaning is clear and any legal terms used are properly used. Ambiguity or not stating exactly what you mean in legal terms might result in your estate being divided differently than you envisaged. The wrong people may benefit or, at best, a slow and expensive court process needed to put things right. By instructing a solicitor you can have peace of mind that upon your death your wishes will be met and that the will is fully compliant with the law. It is money well spent.
Remember, making a will is not something to be taken lightly and should involve legal advice from qualified professionals. If you’re wondering about how to make a will or need advice about wills then we can help.
Our expert team is here to answer any questions and provide the legal counsel you need. We offer affordable wills that won’t leave your loved ones in financial limbo after your passing. Contact us today!
Telephone: 01392 424242