Risks Of Writing Your Own Will With A Will Kit
Introduction
Writing a will is an essential part of estate planning to ensure your assets are distributed according to your wishes after you pass away. While will kits may seem like a convenient and cost-effective option, they come with significant risks that could lead to unintended consequences for your loved ones.
Why Choose Professional Legal Help?
When it comes to something as important as your will, seeking guidance from experienced legal professionals, such as Wright Street Lawyers in Adelaide, South Australia, can help you avoid potential pitfalls.
Common Risks Associated with Using a Will Kit
Lack of Legal client-focusedise
Will kits provide generic templates that may not address your specific circumstances. A lawyer can tailor your will to comply with South Australian laws and ensure it accurately reflects your intentions.
Invalidity
A will that is not properly executed or fails to meet legal requirements may be deemed invalid. This could result in your assets being distributed according to intestacy laws rather than your wishes.
Complexity of Estate Planning
DIY wills may not account for complex family structures, assets, or potential tax implications. A lawyer can help you navigate these complexities and draft a comprehensive will that covers all aspects of your estate.
Frequently Asked Questions
1. Can I contest a will drafted using a will kit?
Contesting a will can be challenging, especially if it was not prepared by a legal professional. The validity of the will and the circumstances surrounding its creation will be crucial factors in determining the success of a contest.
2. How often should I review my will?
It is advisable to review your will regularly, especially after major life events such as marriage, divorce, birth of children, or acquisition of significant assets. Wright Street Lawyers can assist you in updating your will to reflect any changes in your circumstances.
3. What happens if I die without a valid will in South Australia?
If you die without a will (intestate), South Australian intestacy laws will dictate how your assets are distributed. This may not align with your wishes and could lead to disputes among your beneficiaries.
Conclusion
Protecting your assets and ensuring your loved ones are provided for requires careful estate planning. Avoid the risks associated with DIY will kits by consulting the experienced legal team at Wright Street Lawyers. Contact us today to discuss your estate planning needs and secure the future for your family.
