A recent article in the Scottish media gave a startling picture of the number of people who haven't made provision for handling their affairs once they are gone, and outlined the financial mess which can ensue for their families and loved ones. (Read article here).
Using recent surveys as evidence of how widespread the issue is, the piece encouraged people to use January as a time to put their financial affairs in order.
Importantly, the article highlighted that if you want your Will to be legally watertight, you should ensure that you have it drafted by a solicitor.
The risks of DIY when it comes to your estate
It might seem cheaper at the outset to use a template or DIY Will, but this can mean paying a much higher price in the future. Homemade Wills can result in a lengthy and costly estate administration process and it may not be guaranteed that your wishes will be carried out on your death.
It's not uncommon for homemade Wills to contain errors which make the document invalid. The implications of this can not only leave your family with a financial and emotional mess, but your estate can finish up unnecessarily reduced due to legal fees and potential inheritance tax liabilities.
Whilst a DIY Will may seem available at an attractive price, the risks often outweigh the initial cost saving.
Get in touch
If you want to prepare a new Will, or update your existing Will, please get in touch with your usual Harper Macleod contact.