Can I write my own will
Lee Schofield, Member of The Society of Will Writers and a qualified IFA, provides his response when people ask – Can I write my own will?
It amazes me how many people think they can write a will to avoid paying a small sum of roughly £100 ish for a basic will. Its a very important document and without one causes a lot of ambiguity, upset, family feuds and a lengthy probate period.
Importance of making a will
I say to my clients – making a will gives you so much peace of mind, even if its just a basic will to outline who will get what of your estate. Of course the problems arise when people don’t leave a will and the judicial system then takes over to decide who gets your rare Pink Floyd albums, your expensive watch or more seriously – what happens to your children.
Writing my own will – what are the basics
1.Who gets what
2.You must state that you were in sound mind when putting names by your assets and estate
3.You have some witnesses who can vouch for your signature
4.You have somebody that you trust and is financially capable of ensuring that what you leave when you die is directed to the right people (beneficiaries)
Why do I need to take professional advice for making a will? :
You don’t have to. If you feel you know what to do then you can and it will be legally binding if you followed steps 1 – 5 minimum but the issues arises when you are not around to explain your requests and a challenge is made by a family member. The law could over turn your request and you can’t do anything about it.
Peoples estates can be complex and even if you think its straight forward – there will be something that needs professional advice or additional thinking.
A badly written or constructed will may be next to useless – for a low cost you can ensure your will is water tight and covers all eventualities.
If you think you can write your own will thats your decision and you can create a legally binding will. For as little as £90 we can provide a basic will, legally binding and our experts ensure you are covered and all scenarios are discussed with you. We challenge your thoughts and as ‘what if’ scenarios and this will then often develop a more in-depth will that accounts for many other factors and ‘layman’ wouldn’t know.
Can I write my own will – yes you can. But always seek advice to avoid issues later on. A will expert will always ask questions and ensure you fully understand who will get what under various scenarios.