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5 Common Mistakes People Make When Creating a Will

Jul 24, 2021



A large number of populations do not make Will and among those who do make a Will, they wait till retirement. While Will writing is more often than not, associated with retirement and old age, it is recommended to create a Will at a younger age, especially when you have a family. Death doesn’t always wait for you to get old.

Apart from creating a Will, it is also recommended by experts to have a Power of Attorney especially in case you own property. In case of your absence – medical or otherwise, you should make sure that your estate and financial affairs are well taken care of.





Will writing isn’t exactly easy and hence, it is suggested to hire professional Will writers and probate specialists to ensure that your Will is proper and legally approved. Before you start writing your own Will, here are few common mistakes people make which you should avoid.

Not Mentioning All Assets

Surprisingly, leaving out some of their assets is a common mistake people make while writing a Will. You Need to Know when creating a wills, you need to ensure that all your belongings and properties are mentioned and distributed among the beneficiaries as per your wishes. People often forget about less tangible assets such as bank account, stocks, shares, etc. You need to ensure that every asset is mentioned and distributed.

Not Updating the Will

Often, people tend to write very detailed specifics about their assets. For example, if they own a car, they will mention the model number, colour, etc., in the Will which is usually not recommended. What if you sell that car and buy a new one before you die? So, unless you plan to update your Will every time with such minute details, you can alternatively choose to write ‘car I currently own’ making it easier to decipher and execute your Will.

Storing the Will & Not Telling Anyone

You have the perfect Will with mention of all your assets and how you want them to be distributed after you pass away. And you have stored that Will somewhere safe but no one else knows about it. What happens once you pass away? Well, the Will won't be executed as no one knows where it is! Hence, you store your Will in secure document storage and inform your solicitor or a trusted family member or friend. This will ensure that the Will is properly executed after your death.

Not Mentioning About What Happens if You Outlive Your Beneficiaries

Yes! Sometimes parents outlive their children and hence, you need a plan B for such cases. When writing a Will, make sure to mention what happens to all your assets in case you outlive your beneficiaries. If there is no backup plan, the government will decide what to do with your assets and they may even be transferred to that one cousin you hate the most.

Making Your Own Will

Sure! You will go on the internet and you will find twenty different ways on how to write your own Will. We recommend you NOT to do that. Hire Will solicitor and probate specialists when you plan to create a Will so that no issues will be created after your death. Your family will have to suffer because you chose to save money by not hiring a Will solicitor.



Author
Jaimin Raval