Wills and Estates Law - Why Buyer Beware of DIY Wills

Unlike a lawyer-prepared will, a DIY will is a simple document that is easy to make and edit. It is also the easiest type of will to update. The only caveat is that it should be signed and witnessed by two people. The process of creating a DIY will can be quite time-consuming and tedious. However, the effort is worth it to make sure that you get exactly what you want.

When it comes to DIY wills, it is important to follow the directions closely. Otherwise, you're risking creating an invalid will, which can cost a lot of money and delay your loved ones. Take the example of Joe*, who purchased a DIY will kit back in 2008. He gifted all of his assets to his children and grandchildren. Unfortunately, he had completely forgotten to leave his shares in his will, and these rose in value after his death.

While the will itself is the most important document, there are several factors that affect how the estate is distributed. This includes the deceased's communication with his or her family, whether he or she was close to them, and the relationship they had with them. Perhaps he or she had always wanted a sibling to receive more money than their peers. The last thing you want is for someone to make a claim against you and take advantage of your goodwill. Find more interesting information about estate planning lawyer here.

Regardless of the amount of money you have now, you should consider the cost of hiring a lawyer if you're planning to make a DIY will. The costs are minimal, but the outcome can be disastrous. A lawyer will help you avoid mistakes and avoid court and financial penalties. A qualified lawyer can help you make the right decision. It's worth the money, and the peace of mind. There's nothing more valuable than a legal professional's advice.

A DIY will is not a good idea for everyone. If you're a single person with a limited amount of assets, a DIY will might be an appropriate choice. For many people, DIY wills are too complicated and do not meet their needs. While these forms are cheap and easy to make, they are not very reliable. Doing it yourself may be a great solution for those who can't afford to pay a professional.

If you're a DIY will maker, you should make a careful plan to avoid the common problems that can arise. For example, a simple will should be easily understandable and should be clear from the start. Then, you can discuss the details of your Will with your family members and make sure it is written well. It should be easy for them to understand and will protect your loved ones. It can help to include a residual clause, which is a common mistake in a will.