10 Horrendous Will Writing Mistakes

Posted by on Dec 31, 2013 in Legal Services | Comments Off on 10 Horrendous Will Writing Mistakes

10 Horrendous Will Writing Mistakes
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Writing a will is not just for the rich and famous. As soon as you own assets it’s best to write your last will and testament so that your finances and the future for your children are taken care of effectively and efficiently. Unfortunately, people make terrible errors writing their own will, which is why you always employ a professional who is an experienced expert.

So what are these dreadful errors that people make?

  1. The wording of the will becomes ambiguous and it’s not clear what you are leaving for your family, friends and other beneficiaries. This may cause arguments and conflict amongst those who were close to you, before your death.
  2. Failure to appoint suitable executors may leave people administering your estate without any due care and attention.
  3. Some people try to leave their property to other members of the family, when their spouse or partner still needs to live in it.
  4. A will allows you to appoint guardians for your children if they are under 18 years of age if you die before they reach the age to vote. Failing to appoint guardians may mean that the state decides where your children will live and with whom.
  5. Not taking account of tax in advance, may lead you to pay 40% inheritance tax on the assets you leave behind when you didn’t need to. A well worded document will make use of tax-free allowances.
  6. Without any beneficiaries, your complete estate may pass to the government and you will have missed the opportunity to direct tax-free money to your favourite charities.
  7. Where you are unmarried, your partner may not have the right to receive property from you unless you have taken specific actions to ensure that matters are left correctly.
  8. By not offering personal effects to certain people, items may need to be sold as family members disagree.
  9. There are parts of your estate that you can give away a number of years before you die and receive certain tax advantages. This involves you being well-organised by taking tax advice and writing your will as soon as you can.
  10. There might be people that you may not wish to receive anything from your estate, but a poorly worded will may direct your funds straight to their bank account.

All of these errors can be corrected by having your last will and testament written by a professional will writer who will be able to answer all of your delicate questions and then encourage you to review your will regularly over the years.

We can put you in touch with a professional will writer who will visit you at your home. You only have to ask us and we’ll be delighted to help you on the road to getting your last will and testament written or updated.

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