Drafting your own Will

Having a DIY Will sounds like a good option in theory, however there are certain formalities that must be adhered to for a Will to be valid.

One of the main risks of doing a Will yourself is that any mistakes you make could potentially make your Will invalid, and your wishes may not be fulfilled.  This could mean that your family is left with legal and financial issues on your death that could have been easily avoided.  Most DIY Wills do not consider what should happen if any beneficiaries predecease the testator which can lead to a partial or full intestacy of the estate.  If someone inherits through intestacy that is a minor, they will automatically be entitled to their inheritance at age 18, whereas if the testator had sought out advice from a will writer, the Will could have contained a trust that held the inheritance until they were older and could use the money more wisely.

One of the biggest issues with DIY wills, however, is in relation to the execution of the Will.  In order for a will to be valid it must have been signed or acknowledged in the presence of two witnesses.  A minor can act as a witness provided that they are mature enough to understand their act, however it is best to avoid this if possible.  Ideally, witnesses should be completely independent, but this is not possible in certain circumstances.  It is acceptable for family members to witness the signing of the Will as long as they are not named as a beneficiary or a spouse/civil partner of a beneficiary as they will forfeit their gift.  Witnesses must also have the mental capacity to understand their action.