Do-it-Yourself Wills
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 and difficult to resolve. Errors relating to substitute beneficiaries, protecting biological children’s inheritances above stepchildren’s inheritances, and Guardianship disputes occur regularly because of DIY Free & Cheap 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 but cheap activity.
You Get what you Pay for
Considering the potential long-term damage, you may instead choose to seek out expert advice and have your Will created by a local and professional Will Writer. You may even come across a firm who advertises their Will Writing services for “free!”. Our advice to consumers taking up offers of so-called “free” Wills is to practice caution. Undertake research into the firm before committing to use them, check the small-print terms of their “free” Wills offer, and make sure you thoroughly read and understand all documents provided to you.
When a professional Will Writer offers to create a “free” Will for you, 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 from you in the terms and conditions, such as the Will firm being appointed as Executors of your Will (the people responsible for administering your estate after you have passed away). Their professional service as Executors will certainly 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 an estate value and may even include an hourly fee in addition to this.
Solicitor Appointed as an Executor v Local Probate Guidance Services
There can be 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, then your estate could be handled by a family member being free to seek professional assistance only if required. This would avoid unnecessary costs to your estate after your death, leaving more available for the beneficiaries of your Will. Even if an estate is complex, Probate Guidance services can almost always assist a family member or friend acting as an Executor of your Will for a fraction of the price that most solicitors will charge as standard.
If you do choose to take up the offer of a “free” Will on the basis that the firm will appoint themselves as Executors, ensure that you are clear about their fees and the ultimate cost to your estate BEFORE it is too late.
There is NO Such Thing as a Free Lunch (or in this case, a Free & Cheap Will!).
For further details WITHOUT fear of consultation fees nor obligation, then 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.