DIY or “Do It Yourself” is a brilliant way to save time, money and the hassle of paying someone else to do something that you are comfortable doing yourself. In addition, being able to complete a simple household project such as fixing a tap or applying wallpaper to a feature wall gives us the added bonus of a sense of satisfaction and achievement.
Sometimes though, when we undertake a project, half way through we realise that we actually don’t really know what we are doing or how we will finish the job. We might not have done enough research and we are now in a situation where we don’t have the right tools. In the end we may not complete our project in our timeframe, or worse still we have to pay someone to come in and fix our mistakes.
In our world, we see DIY Will Kits as quite similar. They appear to be a great way to save time, money and hassle, but do you really know that you considered the right questions, all the relevant circumstances and are aware and understand all the stringent technical legal requirements involved in the creation of a valid Will?
For some of us even the instructions provided in DIY Will Kits can be confusing if we are not familiar with legal terminology. Then we find ourselves with a poorly drafted document which does not actually achieve our desired purpose. It is not until we go to dispose of someone’s estate that we find some of these Wills are not validly executed and/or do not deal adequately with taxation matters or personal circumstances such as blended families, corporate structures, trusts, etc.
Importantly, with your Wills, no matter how they are prepared, you are always crystal ball gazing – that is, looking ahead into your future and trying to plan appropriately. Getting advice from skilled estate lawyer is, therefore, imperative so that you can draw on their experience in structuring your affairs soundly and preparing a comprehensive estate plan. A lawyer is trained to make sure that when the time comes, your Will works for you, as intended, to manage the transition of the asset base created in your lifetime through any period of incapacity then to your intended beneficiaries after your passing.
You have worked very hard during your lifetime to accumulate your wealth, provide for your family and maintain strong relationships – why risk letting that fall over at the last hurdle? A well-structured estate plan provides you peace of mind that all your hard work during your lifetime will reach your intended beneficiaries so they are well looked after.
The Morrows Legal team is experienced in drafting Wills and preparing comprehensive estate planning for clients, no matter how simple or complex their circumstances. Speak to your trusted Morrows Advisor and ask to be put in touch with one of our legal team.