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Making a Will: Don’t Let These 3 Mistakes Ruin Your Will

Making a Will: Don’t Let These 3 Mistakes Ruin Your Will

When you’re writing a will or testament, it can seem like there’s an infinite amount of things to take into consideration. A will is one of the most important documents you can create for your family to handle most of these matters. 

Don’t think that writing a will is too complicated or expensive. There are ways to reduce the cost and, if you know these common mistakes to avoid when writing a will, writing one won’t be as challenging as you think.

In this article, we’ll point out three issues you need to avoid if you want to write an effective will.

1. Being Unclear

Your will becomes the final word and the last piece of guidance you leave your loved ones. That’s why it needs to be crystal clear and written in plain language. While you may think you’re using common terms and phrases everyone understands, consider that your family might not understand the same things you would. This is necessary, especially if you’re dividing assets from your business to your family members.

Making sure your will is unambiguous is especially important if you’ve included complicated or technical language, as you may end up creating more confusion. You also want to ensure that any instructions are clear and easy to understand. 

A will is only useful if everyone knows what you want them to do. If your instructions are vague or hard to understand, your loved ones might be confused about carrying out your final wishes.

2. Not Specifying Beneficiaries

Many people who don’t create a will make the mistake of not naming specific beneficiaries for their estate. This is a huge oversight because it renders your entire will useless. Without naming particular beneficiaries, your will is nullified. Instead, your estate will be distributed via the state’s intestacy laws.

Keep in mind that these laws aren’t necessarily designed to protect the interests of your loved ones. Instead, they simply divide your estate according to percentages.

To avoid a legal battle, name a specific beneficiary or beneficiaries for each asset in your will. This will make sure that there’s no question about who inherits that property. It’s also essential to think about potential beneficiaries for your life insurance and any retirement accounts you have.

3. Not Leaving Detailed Instructions

A will that is too simple can leave your family with more questions than answers. While it’s important to be clear with your instructions, you also need to be detailed about the logistics of these procedures. If you leave your assets to a loved one or loved ones, or if you want to be sure they’ll be distributed in a certain way, you need to make sure that your instructions are detailed.

For example, what happens if someone dies before you do? What will happen to their portion of the estate? If you don’t have the right language in your will to make those decisions, it can lead to massive problems for your family.

A Good Will for Your Loved Ones

Ultimately, drafting a will is a personal endeavour, and there are no set rules to follow when writing one. However, if you’re looking to have a will that is well-written and easily followed by your family and executor, it may be worth considering some of the common pitfalls above.

Let us help you with estate planning and your will here at Wills and Probate. We are based in the UK, and we can help you in all aspects of future and financial planning. Contact us today!