Your Will is one of the most important documents you will ever write. That’s why it’s important to get it right by using a solicitor who specialises in Wills, Trusts and Estate Planning.
Drawing up a Will is vital to make sure your savings and assets are distributed according to your final wishes. It provides reassurance that, when you are no longer around, your family and friends will be taken care of.
However, many people try to save time and money by purchasing Wills from unregulated Will writers or buying off-the-shelf DIY Will kits.
The danger with this approach is that you could leave your family in financial trouble if errors are made. The value of your estate may be eroded by legal bills and unnecessary taxes. And it could result in a great deal of upset and stress for your loved ones at a very difficult time.
Why is it important to use a solicitor to draw up my Will?
It is often said that ‘you get what you pay for’. The problem with using an unregulated Will writer, filling in a DIY Will kit from a high street shop or using an online form, is that in many cases, neither the Will writer nor you, will have a professional legal qualification or background.
Solicitors are highly qualified, up to speed with the latest legislative requirements and are bound by the strict code imposed by the Solicitors Regulation Authority.
Wills can sometimes be complex and a trained legal professional, in addition to putting your instructions down on paper, will also provide advice on things like inheritance tax, asset protection and can discuss with you whether Trusts are required to protect vulnerable beneficiaries.
You should seek expert legal advice from a solicitor if you have children from previous marriages or relationships, you and your partner are not married or in a civil partnership, you have property and assets overseas or you run your own business. In these situations, a standard Will template may not be fit for purpose.
If you don’t use a solicitor, there is a danger that if mistakes are made in your DIY Will, it will be declared void and the laws of intestacy may prevent loved ones from inheriting anything under your estate.
Having your Will prepared by a solicitor will save you time and money in the longer-term and give you and your family peace of mind knowing that it has been done accurately and properly.
DIY Wills and using Will writing companies may sound attractive on paper, but often the amount of money saved is negligible compared to the time and stress your loved ones may face in the longer-term.
Novum Law’s specialist Wills, Trusts and Estate Planning team offer a flexible approach, tailored to your needs.
Call us today on Freephone 0800 884 0777, email firstname.lastname@example.org.