Tag Archive for: will drafting errors

5 Common Mistakes in DIY Wills and How to Avoid Them - Ballantine Law Bundaberg Estate LawyerBallantine Law

5 Common Mistakes in DIY Wills and How to Avoid Them

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Navigating the realm of wills and estate planning often stirs a mix of emotions and questions. At Ballantine Law, we’re dedicated to demystifying this process. While the allure of DIY will kits is undeniable – they promise speed, affordability, and simplicity – the subtleties of legal standards and personal needs often demand a more bespoke approach. In this article, we shed light on five prevalent pitfalls associated with DIY wills and provide guidance on how to steer clear of them. So, let’s dive into 5 common mistakes in DIY wills and how to avoid them.

1. Lack of Customisation

DIY will kits can be rigid, offering little room for personalisation. Every family, every individual has a unique narrative, deserving of a will that echoes their specific wishes, assets, and circumstances.

Avoidance Tip: Seek professional advice. At Ballantine Law, we transform legal conversations into tailored dialogues, ensuring your will mirrors your distinct narrative.

2. Overlooking Legal Formalities

Wills are legal documents. Each line, clause, and signature weaves into the legal fabric that dictates asset distribution. DIY kits often overlook these intricacies, leading to potential invalidity.

Avoidance Tip: Trust the experts. Our team at Ballantine Law is adept at transforming legal formalities into seamless processes, ensuring every ‘t’ is crossed, every ‘i’ dotted.

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In Australia, nearly half of the adult population does not have a valid will. This leaves many families in potentially complicated legal situations upon the passing of a loved one, emphasizing the importance of understanding and avoiding common mistakes in DIY wills.

3. Ambiguities and Uncertainties

Precision is the linchpin of effective wills. Ambiguities, generalisations, or unclear terms can pave the way for disputes and contestations.

Avoidance Tip: Precision is our forte. We translate your wishes into clear, unequivocal legal terms, safeguarding against uncertainties.

4. Neglecting Updates

Life is dynamic, and so should be your will. Marriages, births, asset acquisitions – each chapter warrants an update, often overlooked in DIY wills.

Avoidance Tip: We view wills as living documents, evolving with you. Ballantine Law guides you through updates, ensuring your will is a true reflection of your current circumstances.

5. Overlooking Tax Implications

Asset distribution isn’t just about allocation; it’s about navigating tax landscapes. DIY kits often miss this, leading to unexpected tax liabilities.

Avoidance Tip: With Ballantine Law, tax isn’t a byword but a central conversation. We ensure your loved ones receive their rightful inheritance, unmarred by unexpected tax burdens.

Embarking on the will and estate planning journey shouldn’t be a solitary endeavour marked by uncertainties. At Ballantine Law, we walk this path with you, turning legal complexities into personal, tailored, and clear solutions. Your peace of mind isn’t a goal but a journey. Avoiding these common mistakes in DIY Wills is essential for securing your legacy, and we’re honoured to be your companions in this pivotal narrative of safeguarding your legacy.

Four Reasons Your DIY Will Kit May Do More Harm Than Good - Ballantine LawBallantine Law

4 Reasons Your DIY Will Kit May Do More Harm Than Good

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In recent years, we have seen an increase in the number of people drafting their own Will using a “Do It Yourself” (“DIY”) Will Kit purchased from a Newsagent or Post Office or downloaded online and an even greater increase in the number of DIY Wills being ruled invalid or struck out completely due to simple, yet avoidable, drafting errors.

Your Will is one of the most important legal documents you will ever make in your lifetime, and the disadvantages in using a DIY Will Kit far outweigh any saving in costs. If your Will is not drafted correctly, your Estate (or your family or loved ones) will end up paying far more money to Lawyers trying to fix the mistakes that are made using DIY Will Kits. Further, if your DIY Will is struck out completely, then this can lead to unintended family members or even an ex-spouse inheriting your assets.

Many drafting errors easily occur with DIY Will Kits for four simple reasons

1. The instructions provided in DIY Will Kits can be very confusing to a person who is not legally trained and can result in a poorly drafted Will which does not clearly or fully dispose of the person’s entire estate or refer to assets which do not form part of the person’s estate such as superannuation, company and trust assets.

2. Matters which should be carefully considered such as adequate provision for your spouse and children, taxation, superannuation, and alternate distribution in the event of the failure of prior bequests are not adequately covered in most DIY Will Kits.

3. DIY Will Kits do not provide the necessary expert advice if a person’s family circumstances are complicated (e.g. blended families; beneficiaries with disabilities, financial issues, matrimonial issues, addiction or gambling issues, etc).

4. The strict legal formalities which must be complied with when completing and signing a Will are often not followed in DIY Wills and many DIY Wills we review have not been correctly signed and witnessed, and this can result in a DIY Will being invalid.

It is essential that you consult an experienced Wills & Estates Lawyer to discuss your estate planning needs in relation to making your Will to ensure your wishes are correctly recorded in a legally binding document.

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According to the Consumer Reports, an evaluation of DIY will software solutions revealed potential problems. Some DIY wills can result in unintended consequences due to generic templates that might not adequately address state-specific requirements or complex individual circumstances. The lack of personalized legal advice and oversight increases the risk of creating a will that might be challenged in court or fail to carry out one’s actual intent.

At Ballantine Law, we provide expert advice from skilled estate planning lawyers. Please contact our dedicated and experienced Wills and Estates lawyers, Amelia Ballantine or Wendy Brillante to discuss your estate planning needs and to ensure you will and estate planning is done right the first time.