When it comes to estate planning, one of the most important decisions you’ll make is whether to use a lawyer to make a Will. While creating a Will yourself might seem like a straightforward task, it’s a legal document that requires careful consideration and precision.
Using a lawyer ensures that your Will is valid, accurately reflects your wishes, and minimises the risk of disputes or complications for your loved ones after you pass away. This article explains why hiring a lawyer to prepare your Will can provide peace of mind and protect your family’s future.
Why You Need a Valid Will
When it comes to estate planning, deciding whether to involve a lawyer in making your Will is crucial. While some may consider DIY options, professional legal help ensures your Will is valid, clearly expresses your wishes, and reduces potential family conflicts.
Creating a valid Will is essential to ensure your assets are distributed according to your wishes and that a trusted executor is appointed to manage your affairs after you pass away. Without a valid Will, your family may face delays, increased costs, and emotional distress.
With a valid Will, your executor can apply for probate (if required) and administer your estate according to your instructions.
Without one, your family may need to apply to the court for letters of administration. This can result in increased legal and court costs and delays, as your estate will be administered according to a statutory formula that may not reflect your true intentions.
Risks of DIY Wills
While it is possible to create a Will using online resources or DIY kits, this approach has potential drawbacks. A Will is a critical legal document, and mistakes or omissions can have significant consequences for your loved ones.
Generic forms and templates may not suit your personal and financial circumstances, increasing the risk of disputes or invalidation.
Benefits of Legal Help with Your Will
Ensuring Your Will Is Legally Valid
To be legally valid, a Will must meet certain formal requirements, including proper signing and witnessing. Mistakes like writing on the Will after it’s made or stapling documents to it can invalidate the entire document or cause parts of it to be ineffective.
Lawyers understand these legal formalities and help ensure your Will is properly prepared to avoid disputes or contestation after your death.
Safe Storage and Certified Copies
Most lawyers will store your original Will securely and free of charge. They also provide certified copies, safeguarding against loss or damage.
If your original Will is lost or cannot be found after your death, certified copies and lawyer records can be used in court to uphold your testamentary wishes.
Addressing Your Unique Family Circumstances
Family dynamics and financial situations evolve over time. A lawyer considers your present and future needs, personal circumstances, family structure, and financial position when drafting your Will.
Blended families, minor children, or vulnerable beneficiaries often require special provisions. A lawyer can help you craft a Will that reflects your intentions, minimises conflicts, and explores options like staggered inheritances and testamentary trusts.
Managing Business Interests in Estate Planning
If you own a business, your Will needs to address how your business interests will be managed, whether that involves passing the business to heirs, selling, or dissolving it.
An experienced estate planning lawyer can help develop a business succession plan tailored to your needs.
Conclusion: Why Professional Will Preparation Matters
Engaging a lawyer to help with your Will offers key benefits, including:
- Valid Wills: Lawyers ensure all legal requirements are met, reducing the risk of contestation.
- Complex Situations: They navigate complexities like blended families, vulnerable beneficiaries, and business succession.
- Dispute Minimisation: By considering your unique circumstances, lawyers help prevent conflicts among beneficiaries.
- Expert Advice: Lawyers provide tailored guidance on trusts, powers of attorney, enduring guardianship, and more.
A well-drafted Will brings peace of mind by ensuring your assets are distributed fairly and according to your wishes.
Get Professional Advice for Your Estate Planning
This information is general in nature. You should obtain professional advice relevant to your personal circumstances.
If you or someone you know needs help or advice, please call 02 9266 0688 or email [email protected].