Writing a Will is essential to ensure that your assets are divided as you desire and your last wishes are carried out as planned. If you don’t have a Will but have considered writing one, you may have thought of doing it yourself using one of the many online tools and templates. However, there are many downfalls to using these online Will writing tools.
When you choose to use an online service or a template to write your Will, it’s a pretty straightforward process. You enter your details into an online form. Then, complete your address, add a payment method, and you will receive your Will within a couple of days, or sometimes instantly if the service allows you to print the completed document.
Although writing a Will online may sound easy and maybe even less expensive than enlisting the assistance of a solicitor to write your Will, if something seems too good to be true, it usually is. This article discusses why writing your Will online isn’t the best idea and how a solicitor can provide more value and is a better choice.
Downfalls of Online Will Writing Services
Drafting Wills is not a regulated service
One of the downfalls of an online service is that not all Will writing companies are regulated. Solicitors, on the other hand, are regulated, required to have professional indemnity insurance and they have to keep up to date. Trusting a solicitor to write your Will ensures that it reflects your personal and financial circumstances at the date it is drafted.
They Can’t Offer Advice
If you have complex issues to include in your Will, an online service typically cannot offer advice. Estate planning laws are constantly changing. A solicitor will ensure that your Will takes into account any of those changes. So while it may be cheaper upfront to write a Will online, it may cost a lot more later because you will have denied yourself access to inheritance tax saving advice (if it is applicable) or ring fencing your assets for your children so that you are assured that they will aways get part of your estate.
It is also common for a trust to be set up in a Will. An online service cannot advise you on whether or not a trust could be beneficial for your situation. A solicitor can provide that advice to you as part of the process.
How a Solicitor Can Help
Solicitors Make Sure you get extensive advice for your personal and financial circumstances
Writing a Will is part of estate planning. When writing a Will, there may be other matters that you need to get in order. Not only can a solicitor help you with that, they know what questions to ask to ensure that all property and other interests of which your estate is comprised are included in your estate planning.
A Solicitor can Help With Lasting Powers of Attorney and Inheritance Tax
A solicitor will do more than just draft your Will. They can use their skills and knowledge to help establish if you are vulnerable and ensure a plan is put in place to mitigate your personal circumstances. As a result, if inheritance tax is likely to be charged, they can advise you how to plan your estate to reduce the liability.
When a Will is written, people often choose to make a Lasting Power of Attorney. A Lasting Power of Attorney is set up so that you know if anything happens to you, your health and financial affairs will be handled as you wish. A solicitor can help you identify whether you require one and draft a Lasting Power of Attorney for you as well.
Let Elizabeth Middleton Solicitors Help Write Your Will
By enlisting the services of an experienced solicitor to write your Will, you can rest assured that your last wishes are implemented, and your estate will be handled how you intended it to be. Your family’s future is too important much to risk on an online Will.
At Elizabeth Middleton Solicitors, we know the importance of a well-drafted Will. Not only can we help you write your Will, but we can help you update it as your life circumstances change. We know how daunting visiting a solicitor can be, so our team provides a professional, friendly environment to ensure you are comfortable and relaxed during your visit.
Contact us today to schedule your consultation.