What are the dangers of a Home-Kit Will?
The law relating to wills is both complex and precise and there are many hidden traps for the inexperienced. Many words used in wills have particular legal meanings that are not readily apparent or understood by lay people. If you attempt to write your own will, you run the risk of creating unintended or unjust results, not to mention heartache for your family.
If your home-kit will is ambiguous, your executors might need a court order as to its interpretation. This will add to the legal costs borne by your estate, cause stress for your executors and beneficiaries alike, and delay the estate’s administration. However, after you die, you will not be available to give evidence. Accordingly, the court will need to examine your will in isolation and will not “change” your will to align more closely your intentions. Therefore your will must try to perfectly encapsulate your intentions. This requires both skill and a sound knowledge of the law relating to wills. You might save a few hundred dollars by drafting your own will but you might cause tens of thousand’s of dollars in legal costs unraveling it.
Another trap is that most people do not understand the formal requirements for a will and they either execute or have the will witnessed in a way that does not comply with the law. A solicitor knows the rules and will ensure that your will complies with all the formal requirements.
When taking instructions for your will, our wills and estate lawyers at Catherine Henry Partners will also be able to advise you on matters relating to estate planning, superannuation and possible family provision claims.
Catherine Henry Partners will also be able to guide you on the best way protect your children in blended family. Blended families are where couples live together with children from previous relationships. These family arrangements pose particular challenges for will drafters. Care must be taken to protect your children if your partner becomes involved in another relationship after you die. In this situation your solicitor can set out various options that will safeguard the welfare of your children.