Can I write my own Will?

Saving money

If you’re prudent, you may think writing your own Will is a simple way to save money. Many of our clients have tried online will services but found it far more difficult than they thought. They're often worried they've made a mistake that could cause a dispute or a delay. Perhaps you started the process and found that what you thought was a low-cost solution turned out to be far more expensive, with add-ons for printing, checking and storing. Often these essentials are not included in the headline price.

The pitfalls of a homemade Will

Everyone’s personal situation is unique. There is no ‘one size fits all’ option when it comes to writing a Will. Every family is different. Every Will is individual.

Jenny* told us she had begun writing her Will online and found she had been diverted to a much more expensive Will package when she ticked the box: "Do you wish to exclude a family member?"

Shirley* called us to ask: "What is an IPDI, and is it the same as a life interest or a protective property trust - and do we need one?"

Mark’s father* had typed out his own Will, which his neighbours witnessed correctly. He later added handwritten notes and made several alterations. The probate registry rejected the Will as invalid because the changes were in different colour inks and had not been witnessed.

Legal terminology and estate planning language may not be familiar to you. Using a form from the Post Office to write your Will may seem like an inexpensive option, but we regularly see handwritten Wills that contain minor (and major) errors that mean they are not valid.

Literally, they may not be worth the paper they're written on.

Mistakes in DIY Wills are often very simple and use legal words incorrectly. We recently reviewed a handwritten Will that used the legal term “issue” when the Will maker meant grandchildren. The resulting inheritances were very different from what was probably intended. (Issue means all the future generations of your family.)

If you wrote, “I give my gold Rolex watch to my son Peter”, and a few years later you sold that Rolex and bought a new one, your son does not legally inherit the new one. To qualify as a valid gift, you would need to write: “I give to my son Peter the gold Rolex watch I own at my death.”

Unintended and expensive consequences

Malcolm* wrote his own Will in 1999. Working in banking, he knew that being a tenant in common was a sensible way to own the family home with Margaret, his wife. He left his half-share to his 2 daughters. When he died in 2007, Penny and Sara* inherited his half of the property (worth about £40,000).

When their mum Margaret dies, they will inherit her share. They will sell the bungalow as they already own their own homes. Sadly, what Malcolm hadn’t realised was that Penny and Sara* will have to pay capital gains tax on the increase in value of their share from 2007 to the date the bungalow is sold. The well-maintained bungalow was recently valued at £240,000. They could face a capital gains tax bill of over £26,000.

The capital gains tax was entirely and legally avoidable if Malcolm’s Will had included a simple life interest trust for Margaret. For a couple of hundred pounds and an hour of his time, Malcolm could have saved his children thousands of pounds in tax.

You don’t know what you don’t know

If your Will is not correctly drafted, would you know?

Many online Will providers' terms and conditions state that they are not responsible for any errors if you tick the wrong box. Some disclaim any responsibility as they have not met you or assessed your capacity to make a Will.

If your Will is poorly drafted or ambiguous, it could cause arguments between your family members. Legal action takes time, causes hassle and cost to your estate, and the people you want to benefit may lose out.

Legal expertise

Regulated legal professionals have indemnity insurance. This means your beneficiaries will be compensated if there is a mistake in your Will that needs to be rectified.

The number of disputed probate cases over recent years is increasing, often as a result of Wills that have not been correctly drafted. Specialist probate lawyers at IDR Law tell us that between 5-10% of Wills are challenged.

A legal professional will discuss your personal circumstances AND your financial and tax position to avoid your estate paying more than necessary. They'll also advise how to provide for children after your death, including naming a guardian and putting protective trusts in place for tax reasons or for your children or a vulnerable family member.

A Will should use clear and unambiguous language. All the beneficiaries must be correctly identified and included. A will writing professional will also ensure that your Will is signed and witnessed in the correct legal way and that all the formalities are followed.

Testamentary capacity

One of the most important reasons to use a professional firm is to confirm your intentions and your capacity. A professional can provide your file as evidence if your wishes or capacity are questioned after your death. An experienced will writer will take time to understand your wishes and ensure you understand all the consequences. If the validity of your Will is challenged, they can provide evidence of 'due execution'.

The cost of making a Will is a tiny fraction of the expense and disruption of a legal dispute.

To give yourself peace of mind and reassurance for your loved ones, use a legal specialist. Ask for a referral from friends or family you trust. Our article How do I find a Will writer? has helpful information.

Contact us if you’d like to know more about our services.

*We never share the personal details of our clients. Our examples are genuine, but names have been changed.

Please note that information provided on the Carisma Wills website:

• Does not provide a complete or authoritative statement of the law;

• Does not constitute legal advice by Carisma Wills;

• Does not form part of any other advice, whether paid or free.