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DIY Wills – Costing your loved ones more

Vanessa Bozinoska

The do-it-yourself Wills kit appears to be a simple approach to getting your affairs in order. They are inexpensive and can be completed in minutes, but in the long haul, it could wind up costing your appointed beneficiaries more.

The potential problems that can arise far outweigh any savings in costs. A common mistake made, is that the Will is incorrectly executed, rendering it invalid. A Will kit neglects to inform you of the strict legislation that must be complied with when signing your Will. If your Will is invalid, your estate will be distributed in accordance with the intestacy rules. These rules define how your estate will be divided, and who will inherit a share, as opposed to your desired wishes.

More often than not, DIY Wills are poorly written, with no use of legal terminology to succinctly dispose of all your assets. This creates unwarranted ambiguity, resulting in your Will being contested. Claims on an estate can raise substantial costs, and such costs are payable from your estate, reducing or extinguishing the share your intended beneficiaries were to receive. Your Will can also be contested by someone you omitted, who believes they were entitled to receive a fair share of your estate.

Rather than causing your family unnecessary stress, get started online on our website and consult our lawyers to ensure your Will reflects your wishes, and minimises the risks of claims against your estate.

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