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With new data suggesting that the number of contested Wills is increasing, many experts have blamed the increasing popularity of self-made Wills, also known as DIY Wills.
Although the number of people with a Will has risen slightly as more people realise the importance of drafting a Will, a substantial number still opt to try and make their Wills without enlisting the help of a solicitor. There are many reasons for this, with cost being the main factor in the creation of a DIY Will.
Many people fear the cost of making a Will through a solicitor, believing that doing so will be exceptionally costly; however, a Will can cost as little as £200-£300 through using a lawyer and is no way near as expensive as many people believe. Despite this, many still fear that by enlisting the help of a lawyer it will be exceptionally more expensive to create a Will. This is simply not the case. When considering what a Will protects and the importance of the document, the amount of money having a legally binding Will can save you and your loved ones in the long run is worth the cost. As well as giving you peace of mind that your inheritance is protected from a legal challenge, a Will created by an expert solicitor can let you rest assured that your loved ones are properly cared for.
Despite the fact that a Will through a solicitor ensures that your loved ones are cared for once you are gone, many people opt to create a DIY Will. A DIY Will can be beneficial if you are live on your own or have a partner but no other family to pass on an inheritance. In basic family circumstances, a self-made Will could be effective. However, DIY Wills are easy to challenge and do not appropriately cover or take complicated family situations into account.
It is due to their lack of expertise that a self-made Will is so readily available on the High Street or via a template that can be purchased online, as both are exceptionally cheap. It is the low cost of a DIY Will that is the most appealing thing to those who opt to create one, but this low cost can come at an exceptionally heavy price in the long run.
A Will protects your estate, heirlooms, all assets and other items you may wish to pass on to your loved ones. By using a solicitor, you can ensure that your assets are passed on to and that there are no mistakes in your Will that could lead to a legal challenge. A legally binding Will from a solicitor can take into account all complex family circumstances and can correctly omit those you wish to leave out of the document while also making the prospect of a legal challenge exceptionally difficult.
While enlisting the help of a solicitor may be around £150 more expensive at the time, you can rest assured that your Will and your final wishes are in safe hands and that your loved ones are cared for once you are gone. If a DIY Will is created incorrectly, if there is a mistake in the Will, or if the Will is challenged, it can lead to loved ones spending thousands of pounds on legal fees in an attempt to get what they see as rightfully theirs.
If you require our services in making a Will or for any questions about inheritance, contact our team of expert solicitors today using our online contact form.
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