You can do pretty much anything online these days, from finding love on a dating app to doing your weekly grocery shop. However, just because you can do something online, doesn’t necessarily mean that you should! Some tasks require an element of human input and expertise, particularly those that may have legal repercussions, such as writing a will.
Beware of the cheap will services!
You might see adverts for cheap online will writing services but there are a number of risks that come with going down this route. A will is an essential legal document to ensure that your savings and assets are passed onto the people that you want them to when you die, so it is important to arrange yours through a reputable legal firm.
If you choose an online will service, you risk having your wishes not carried out how you wanted them to. Any discrepancies that are left after your death can result in added stress and even leave family members arguing about what they thought your intentions would be. Prolonged probate can lead to escalated fees, so it is important to choose a professional, experienced legal team to take care of your will.
Further to this, without the advice of will experts, you may lose out by paying too much inheritance tax on the money you leave. When you opt for an online will, you don’t have the opportunity to ask questions or gather advice from people who understand the complexities of will writing and can get the best results for you.
Understanding the legal jargon and complexities
If you don’t fully understand the difference between an Executor and a Trustee then you need some guidance on the definitions. Or if you don’t know the rules around appointing guardians for young children then you could end up putting the future wellbeing of your children at jeopardy.
When a will doesn’t comply with legal requirements, you could find that all of the details included in it become completely invalid. Online wills can be quick and cheaper than traditional will writing services but this is because you lose out on the legal expertise.
Common errors resulting from online will writing
Common errors/problems that can happen when you use online wills without expert guidance include:
- Failing to sign your will
- Choosing a witness that is also a beneficiary
- Not updating your will when circumstances change i.e. marriage, divorce etc.
- Not valuing your assets correctly
- Difficulty in locating the will after your death
You may also find that when you select an online will, you are then subject to hidden charges. So that £50 fast-track will that you thought was a bargain, could end up being multiple times that cost, without any of the quality that you would have paid the same price for with a wills solicitor.
When you are deciding who to trust with writing your will, remember that cheap prices usually get cheap services and the implications of errors or an invalid will could turn out to be very costly in more ways than one. Speak to an experienced wills solicitor at Hill and Company today to talk about your will: http://d36.co/13Bb1