The Danger of DIY Wills

During the lockdown, Google saw a 1500% increase in searches for ‘DIY Wills’!

Though it’s great to hear people are putting time aside to think about later life planning, creating a Will isn’t something you should do without taking advice from a qualified professional. Wills are legal documents, and extremely powerful at that. Getting them wrong or forgetting to include certain content could be detrimental to your intended later life plans.

Take a look at the following things people forget to include in their Will:

Choosing an Executor

Choosing an executor is probably one of the most important decisions you will need to make. Believe it or not, people have been known to forget about it! If you pass away, your trusted executor is responsible for distributing assets and fulfilling the terms of your Will. Without naming an executor, the courts will decide one for you. Sometimes it’s worth considering a substitute executor just in case your primary executor is unable to act and an alternate executor too because the primary executor could pass away before you.

Choosing alternate Beneficiaries

The beneficiaries named in your Will are those who you choose to inherit your assets. Again, it’s often worth including alternate beneficiaries in case your primary beneficiaries pass away before you do.

Organ donation

Would you like to donate your organs when you pass away? Either way, this is something you need to mention in your Will. It’s also a good idea to let your family know about your preference to spare them unnecessary distress when you’re gone.

Digital assets

That’s right digital assets: social media accounts, software, databases, website domains can all hold value and need to be included in your Will, especially if you’re a business owner.

Disinheritance clauses

If there is someone who you do not want to inherit your assets, it’s not enough not to include them. You need to specify your preference to prevent your money from ending up in the wrong pocket. At an already difficult time, don't leave it to your family to decide who gets what because you can almost guarantee this will end up with arguments and bitterness.

A signature

Without a signature, anyone could create a fraudulent Will. A witnessed signature is a must.

Forgetting to include things on your Will is one thing and making mistakes is another, the latter potentially invalidating your Will. You can see why DIY Wills are not such a good idea.

If you choose Protego Consult, you are opting for a simple and stress-free service; our advisors consider every detail to ensure your Will is fit for purpose and valid.