Writing your own Will in the UK can seem like a cost-effective solution to ensure your wishes are followed after death. The reality is, it comes with many risks. Here are some of the key dangers you could face by writing a Will yourself:
1. Invalid Will (Not Legally Binding)
A will must meet specific legal requirements to be valid in the UK. If any of these formalities are not followed, the Will could be invalid:
- Signing with witnesses: The will must be signed by the testator (the person making the will) in the presence of two independent witnesses.
- Witness qualifications: Witnesses must not be beneficiaries or married to a beneficiary. Otherwise, their inheritance could be invalidated.
- Clear intention: The wording must be clear in expressing the testator’s intentions.
2. Ambiguous Language
Without legal expertise, you might use unclear language. This could lead to confusion about your wishes. Without precise wording, your loved ones could face disputes over what you intended. This could lead to legal challenges.
3. Omitting Key Provisions
Non-professional Will Writers often forget to include essential clauses, such as:
- Appointing executors: Without someone to administer your estate, the probate process can become difficult.
- Guardians for minors: If you have children under 18, failing to name a guardian may leave their care for the Court to determine.
- Residuary clause: A residuary clause allocates any remaining assets after specific gifts to be distributed. Without this, your remaining estate could be subject to intestacy laws.
4. Intestacy Risk
If a DIY Will is invalid or incomplete, the government’s laws could dictate who inherits. The Will is subject to intestacy rules, meaning assets could go to people you didn’t intend to benefit.
Our Head of Private Client has known of an instance where a homemade Will stated leaving the estate to ‘all my beneficiaries’ but without stating who. This led to an estranged family member being eligible for 1/3rd of the estate through intestacy, although we do wonder if that was the desired outcome for the deceased.
5. Increased Risk of Disputes and Challenges
If a Will is unclear or incomplete, it could face contest. Family members may disagree about your intentions – this can lead to costly legal disputes. This can also happen if significant decisions aren’t explained, such as leaving someone out of your Will.
6. Complex Estates
If your estate includes complicated assets, such as:
- international property,
- trusts,
- businesses,
- or if you have specific tax planning needs, a DIY will is unlikely to address these properly.
Mistakes could lead to higher inheritance tax liabilities or difficulties in administering your estate.
7. Tax Implications
Without professional advice, you may not account for inheritance tax planning effectively.
If you misunderstand inheritance tax laws it could result in a larger-than-necessary tax burden on your estate. This will reduce what your beneficiaries receive.
8. Failure to Update the Will
A DIY Will might not account for future changes in your life, such as marriage, divorce, or the birth of children. The danger with not knowing when or how to update your Will is that it could become out-of-date and no longer reflects your current wishes.
9. Incapacity or Undue Influence
If the Will is challenged on the grounds that you lacked mental capacity when writing it or were unduly influenced, the absence of professional involvement could make it more difficult to defend.
10. Missing Requirements for Special Circumstances
Certain situations require specific legal provisions, such as when including:
- blended families,
- stepchildren,
- second marriages,
- or specific trust arrangements.
A DIY approach may overlook these, resulting in unintended consequences.
Can we work with you on Will writing?
Given these risks, we recommend seeking legal advice and using a professional Will-writing service. Whether your estate or family situation is complex or simple, we can ensure your wishes will be honoured.
