The hidden dangers of making a D-I-Y Will
by Kelsey Leahy
DIY will kits are readily available and becoming a more popular choice for people who are looking to save money. However, are you really saving money by using a will kit?
Most DIY wills are a one-size-fits-all; they include basic provisions and instructions that can be quite confusing for the reader. We often hear people say that their situation is very simple and a DIY will is sufficient for their circumstances, however, upon these people discussing their situation with a solicitor, they are informed that their situation is not as simple as they may think. DIY will kits do not account for common concepts such as; taxation, superannuation, small businesses, and blended families.
As well as the DIY will kit not incorporating all your circumstances, there are many simple mistakes that can be made in a DIY will kit. These mistakes include things such as; leaving a clause blank because you thought it was not relevant, giving away assets you do not own or not considering the fact that circumstances may change before you pass away, and failing to comply with the requirements of a valid will. These mistakes can lead to expensive legal fees and lengthy court battles for your family members after you pass away.
Using a solicitor to prepare your will means that you will not incur any of the problems you would with a DIY will kit, you will have peace of mind knowing your will is valid and accommodates all your circumstances, and more often than not, you will receive advice about your will for circumstances you had not considered. Additionally, when you make a will through our office you have the peace of mind knowing that your will is kept in our safe custody and your family will know exactly where your will is when you pass away.
Contact our office on 07 4051 5388 to discuss our fixed fee will prices and gain some peace of mind knowing your will is taken care of.