Beware free wills, clearly a person is at liberty to draft their own Will if they so wish, and therefore pay only for the ink and the paper required to create it, or the cost of a DIY kit from a High Street stationery shop. Any such “DIY Will” should be perfectly valid provided it meets all the criteria set out in section 9 of the Wills Act 1837. However, whilst DIY Wills can seem appealing and cost effective on face value, they can cause complex issues after your death that become expensive to solve. Errors relating to substitute beneficiaries, protecting biological children’s inheritances above stepchildren’s inheritances and Guardianship disputes occur regularly because of DIY Wills.
I could certainly save money if I undertook my own dentistry or vehicle repairs, however, I would fear for the reliability and safety of such self-reliant activity.
Considering the potential long-term damage, you may instead choose to seek out expert advice and have your Will created by a professional Will drafter. You may even come across a firm that advertises their Will writing services for “free”! Our advice to consumers taking up offers of “free” Wills is to practice caution. Undertake research into the firm before committing to use them, check the small-print terms of their “free” Will offer, and make sure you thoroughly read and understand all documents provided for you.
When a professional drafter offers to create you a “free” Will, it is basic common-sense to wonder why? It is often the case that the Will is not truly “free” and has strings attached. Many so-called “free” Will offers include hidden commitments bestowed upon you in the terms and conditions, such as the Will firm being appointed as Executors of your estate (the people responsible for administering your estate after you have passed away). Their professional service as Executors will not be free of charge, and fees can vary wildly. Solicitors, banks, Legal Services companies, and trust corporations might charge anywhere between the equivalent of 1-10% of the estate value and may even include an hourly fee in addition to this.
There are benefits to appointing a professional Executor if your estate is particularly large or complex, or if there are no family or friends who would be suitable to act. However, there is no requirement to appoint a professional Executor without good reason. If your estate is not particularly complex it could be handled by a family member, and that family member could seek professional assistance only if required, thus keeping costs down after a death.
If you do choose to take up the offer of a “free” Will on the basis that the firm will appoint themselves as Executors, make sure you are clear about their fees and the ultimate cost to your estate BEFORE it is too late.
Remember the well-established statement “There is NO Such Thing as a Free Lunch”.
For more information without fear of consultation fees or obligation, please visit our Wills page.
TRF Wills (TRF) was created by Michael Cotterill in 2005. He is a member of the Society of Will Writers and registered with the Information Commissioner’s Office.