Homemade Wills: The Common Pitfalls

In this episode of The Legal Rabbit Hole, hosts Charlotte Day and Megan Lovell delve into the critical issues surrounding homemade Wills. They discuss why drafting a Will without professional legal advice can lead to significant problems, including disputes, unintended tax consequences, and the failure to carry out the deceased's wishes.Key Takeaways·     What is a homemade Will: Explanation of Wills created without solicitors’ guidance and why they are often problematic.·     Common pitfalls of homemade Wills: Missing dates or incorrect wording, the use of generic templates or pre-filled kits that lack nuance and precision and issues caused by physical alterations.·     Real-life examples: A case where the phrase "I wish" led to inheritance tax complications and a case where a Will was taken apart by a bank for copying, raising concerns about tampering.·     Why legal advice matters: The importance of clear and enforceable language in Wills. The role of a solicitor in assessing testamentary capacity and preventing undue influence. Additional steps solicitors take to minimise disputes post death.·     The Impact of COVID-19: How the pandemic increased the prevalence of homemade Wills. Long-term risks associated with last-minute and DIY estate planning during the pandemic.·     Best practices: Why professional guidance ensures your wishes are carried out. Steps solicitors take to make Wills as "watertight" as possible.Resources MentionedTimms Solicitors : For further questions reach out to Timm's Solicitors via their website, email at [email protected] or call freephone 0800 011 6666.If you're considering drafting a Will or updating your estate plan, contact Timms Solicitors to ensure your wishes are carried out with precision and legal certainty.Don’t miss an episode of The Legal Rabbit Hole! Subscribe on your favourite podcast platform and leave us a review to let us know what you think.