Writing a will is one of the most important steps in planning your estate and ensuring your loved ones are taken care of after you pass away. However, even small mistakes can cause big problems, leading to disputes, delays, or even an invalid will.
To help you avoid these pitfalls, we’ve compiled a list of common mistakes people make when writing their wills, along with tips on how to get it right.
1. Not having a will at all
The biggest mistake you can make is not writing a will in the first place. Without a will, your estate will be distributed according to intestacy laws, which may not align with your wishes. This means your assets could go to distant relatives or even the government, leaving out the people you care about most.
How to avoid it: Take the time to write a will, even if you think your estate is simple or small. Having a will ensures your wishes are respected and that your loved ones are looked after.
2. Failing to update your will
Life changes, and so should your will. Failing to update your will after major life events like marriage, divorce, the birth of children, or the death of a beneficiary can lead to unintended consequences. For example, if you marry after writing your will, your old will may be invalidated unless specifically stated otherwise.
How to avoid it: Review your will regularly, especially after significant life events. Ensure it reflects your current wishes and circumstances, and update it as necessary to avoid legal issues.
3. Choosing the wrong executor
Your executor is responsible for carrying out your wishes, so it’s vital to choose the right person. Picking someone who is disorganised, unreliable, or too emotionally involved can cause delays or complications in administering your estate.
How to avoid it: Choose an executor who is trustworthy, organised, and capable of handling the legal and financial responsibilities of the role. Discuss the role with them beforehand to ensure they’re willing and able to take it on.
4. Not specifying guardians for children
If you have children under 18, it’s essential to name guardians in your will. Failing to do so can leave the decision up to the courts, who may appoint someone you wouldn’t have chosen.
How to avoid it: Clearly state your chosen guardians in your will, and make sure they are aware of your decision. It’s also wise to name a backup guardian in case your first choice is unable to take on the responsibility.
5. Overlooking your digital assets
In today’s digital world, many people forget to account for their online presence and digital assets in their will. This can include things like social media accounts, online banking, cryptocurrencies, or digital photo collections.
How to avoid it: Make a list of your digital assets and include instructions for how you want them handled. You can also appoint a digital executor to manage these assets after your death.
6. Not being specific enough with your bequests
Vague or unclear instructions in your will can lead to confusion and disputes among your beneficiaries. Simply saying “divide my estate equally” without clear definitions can result in misinterpretations.
How to avoid it: Be as specific as possible when detailing your wishes. Name individual beneficiaries for specific items or assets, and use clear language to avoid ambiguity.
7. Forgetting about taxes
Estate taxes and inheritance taxes can take a large chunk out of your estate if not properly planned for. Without considering these taxes, your beneficiaries may receive less than you intended.
How to avoid it: Seek legal advice or consult a financial planner to understand the tax implications of your estate. Planning ahead can help reduce the tax burden on your beneficiaries.
8. Failing to account for debts
Many people don’t realise that their debts must be settled before their assets are distributed to beneficiaries. If you don’t account for outstanding debts, it could affect the value of your estate and leave less for your loved ones.
How to avoid it: Make sure your will accounts for any debts, and consider how these will be paid off. You can leave specific instructions for paying debts to ensure they don’t cause problems for your beneficiaries.
9. Not having witnesses or choosing the wrong witnesses
For a will to be legally valid, it must be signed and witnessed by at least two people. These witnesses cannot be beneficiaries of the will, or it may lead to the will being contested or deemed invalid.
How to avoid it: Ensure your will is signed by two independent witnesses who are not named in the will. Following the proper legal procedure is crucial for the validity of your document.
10. Keeping your will in an inaccessible place
A will is no good if no one knows where it is. If your will is lost or inaccessible after your death, it could cause delays in settling your estate and create unnecessary stress for your loved ones.
How to avoid it: Store your will in a safe place, like a solicitor’s office or a secure home safe, and make sure your executor and close family members know where to find it.
Final thoughts
Writing a will is a crucial step in securing your family’s future, but it’s important to get it right. By avoiding these common mistakes, you can ensure your wishes are carried out smoothly and that your loved ones are protected.
If you’re ready to write or update your will, or need guidance from a professional, start comparing wills and probate services today to make sure everything is in place.
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