Providing a will for your family when you die is one of the best things you can do, yet only around 46% of Americans have wills.
Dying without a will presents challenges and issues to your family as they try to settle your matters. In other words, your family will have more work if you don’t leave a will.
Therefore, you should make one if you don’t already have one.
Many people turn to the do it yourself will to save money, yet this isn’t always a good idea. Moreover, creating this vital document without an attorney’s help can present other challenges.
If you’re on the verge of making a will yourself, you might want to learn about three major issues you could face by doing this yourself. Once you learn these, you might decide that it’s better to pay an attorney to make one for you.
1. You Might Forget Some Legal Requirements
One of the downfalls of do-it-yourself wills is forgetting to include some legal requirements. Failing to include the right things can invalidate a will. If this happens, your will means nothing to your family as they settle your matters.
For example, many people forget to have witnesses sign their online wills. Without a witness’s signature, your will is not valid.
Additionally, your will might be invalid if you don’t list your full name accurately or if you forget other important details.
2. You Might Omit Vital Details
Do-it-yourself wills and trusts work well for some people, but not most. People who create their own wills might forget vital details.
For example, your will should state your executor’s name. The executor is the person you trust to handle settling your estate. If you forget to name an executor, your family will face challenges with your estate.
You might also forget to name all your beneficiaries or list how you’d like your family to divide your things.
Hiring a real estate attorney is the best way to create a valid will that contains every necessary detail that you need to include.
3. You Forget to Add Assets
Finally, when you make your own will, you could forget to include some of your assets. For example, you might list most of the things you own, but you might inadvertently miss a few things.
So, what happens to the things you miss? Your family might have to go to court to determine the outcome of those things.
Creating a thorough and legally binding DIY will isn’t impossible, but it’s challenging. Therefore, you might want to think twice before handling this crucial task yourself.
A Do It Yourself Will Isn’t Always the Best Option
Creating a will is a great idea, as it helps your family settle your estate. However, a do it yourself will isn’t always the best way to create a will.
Hiring an attorney is the better option, as it provides a way to have a legal will that covers all the bases.
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