Write a thorough and legally binding will by avoiding these simple mistakes. Your will needs to meet certain criteria to be valid after you pass away, and if it isn’t, a court will distribute your assets as they see fit. While writing your will yourself may save money, consulting a professional will avoid errors and complications.
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Forgetting to Sign & Witness Your Will
Once the will writing is finished, you must sign your will with two witnesses. If you miss this crucial step, then your will is considered void and your assets will be distributed by the courts.
For the will to be valid, signing it must happen with two witnesses physically present.
Not anyone can witness your will. Witnesses must be:
- UK citizens
- 18 or older
- Not named as beneficiaries in the will, or married to a beneficiary.
Your two witnesses must be present when you sign the will. If you get professional support, the person you’ve asked to help with will writing can be a witness, and provide a second witness such as a colleague, as long as they meet the criteria above.
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Poorly Updated
Sometimes wills are written and not updated at all. Important life events get left out, such as getting married, divorced or having children. If you forget to update your will after events like these, your will becomes confusing and difficult to execute.
However, updates are not as simple as adding a note.
If you’re adding something simple, you can use a codicil to make it official. Codicils need to be signed and witnessed again, but you can add as many as you like.
However, if your situation has changed in many ways, starting again and writing a new will may be the simpler choice.
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Forgotten Assets
When writing a will, it’s important to remember all of your assets. Assets mean your home, vehicle and valuables.
You must also include the intangible assets that sometimes, people forget: bank accounts, bonds, shares and other investments.
Crucially, you must not forget to include debts, such as a mortgage. Your executor is duty-bound to pay these from your estate, so make sure to put them in.
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Forgetting Guardians
Your will is the place to appoint legal guardians if you have dependents, including step-children. These are adults whom you trust to be responsible for the welfare of your dependents if you pass away before they turn 18.
If you fail to appoint a guardian to look after your child, and there is nobody else with parental responsibility, the court will appoint a guardian. Depending on your family structure, this may not be someone your child knows well or is close to, so it is best to appoint someone.
You may also consider including a financial provision for your child’s guardian to support them in looking after your child.
A guardian can be anyone you choose, as long as they are over 18. Many people choose a family member or close friend. It is worth naming two options, in case your preferred guardian isn’t able to act.
Make sure you discuss the responsibility of becoming a guardian with this person before making your will.
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Executors
The final thing we will mention here that is not to be forgotten in your will is the executor. This is the person who handles the administration of your wishes, arranging sales of properties, transfer of bank accounts and more.
Without a named executor, a volunteer can be appointed as the estate’s administrator by applying for a ‘Grant of Letters of Administration with the Will’.
In the event that nobody volunteers for the role, the court may select someone appropriate. This person has a right to decline, so it may be a long time before your assets are distributed in line with your wishes.
It is best to name an executor in your will. Consider that they must be over 18 at your time of death, and have the mental capacity to complete the tasks required. You should also think about their capacity, willingness and experience with administrative tasks. They may be a trusted friend or relative or a professional.
Avoid These Common Mistakes When Writing Your Will
Ultimately, it’s important to get a professional to help. DIY wills can save a small amount of money, but it’s not worth the risk of your will being deemed void and your wishes disregarded.
Using a will writing service will help you remember all these important aspects. A professional will writing company will also keep an original copy securely on file, so it will never be lost.
From St. Albans to Cheltenham, will writing help is available from Bees & Co.
Contact one of our offices near you.
