Death is a natural part of life, whether you like it or not. The scary thing here is that you never know when and how it will come. Learning how to write a will, and then actually doing it will help the ones you love in the future.
And now more than ever, people are starting to see the glaring reality that death often comes in the most unexpected times.
The last thing you want is for your family members and relatives to hate and fight each other because of your wealth that you will leave behind after you pass away.
There are even instances when the rightful heir wasn’t able to get what they deserved just because the deceased didn’t have a will.
This is why knowing how to write a will is a big must.
Can I Write a Will Myself?
Theoretically speaking, you can simply write down your will on any piece of scrap paper. It can be considered legally binding provided that it was correctly signed and two independent adult witnesses were present during the signing.
However, just because you can write a will yourself doesn’t mean that it is a wise idea.
There are general rules that most wills should follow when it comes to the things you will say and how you will say them.
The standard methods of writing things have been tried and tested. They help eliminate confusion on what you mean even when the language many seem unusual.
A wrong choice of words can result in your instructions not being followed, or worse, this might render your will invalid.
This is why it is always a good idea that you use a template that includes legal terms and has all of the standard sections.
When Is Writing Your Own Will a Good Idea?
In general, you must only write your will yourself if you have simple wishes. For instance, if you are married and your wishes include the following:
- You wish to leave everything to your spouse.
- If your spouse dies before you, you wish to leave all your possessions to your children.
If the situation is more complicated than this, such as when you aren’t married to your partner or there are stepchildren involved, you might want to hire a will writing service or a solicitor.
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When Is Writing Your Own Will a Bad Idea?
It is a must to get the help of a professional when writing your will if any of the following are true:
- You want to reduce the Inheritance Tax bill.
- You have properties overseas.
- You have a business that you want to leave to someone.
- You have foreign bank accounts or investments.
- Your will has complex wishes or wishes that could be misunderstood.
- There are people who financially depend on you aside from your immediate family.
Risks of Writing Your Own Will
You should only write your own will if you have simple wishes and a not-so-complicated financial situation.
Yes, you can enjoy some savings compared to hiring a professional service. However, if something goes wrong, your family and friends might have a hard time sorting out your possessions after you pass away.
If there are any errors made that can lead to problems during the reading of your will, no legal comeback can be expected. And if worse comes to worst, your will might even end up invalid with the law being the one to decide who your property and money will go to.
How to Write a Will Without a Lawyer
Most people think that a lawyer is needed when writing a will. Although the presence of a lawyer is helpful, it is possible to write your own will if you like.
What’s important is to understand the specific requirements of your state and ensure that your will f