A DIY Will allows you to easily make a simple Will online instantly. You decide and put in writing who receives what from your estate. Your estate is made up of your house, savings and investments, insurance and any sentimental items. A Will ensures that your final wishes are secured, and your loved ones are protected.
For many, a DIY standard Will is sufficient to take care of basic preferences such as who your executors are, who you want to benefit from your estate and any simple funeral wishes. However, everybody’s needs and circumstances are different and that’s where our qualified consultants step in, providing expert advice tailored to your exact requirements and choices.
What is a DIY Will?
Please note that they do not carry any guarantees and no advice is given to you if you choose to go along this route.
Who can make a DIY Will?
DIY Wills are suitable for people with relatively simple requirements and wishes for what happens to their assets on their death. If you have an uncomplicated financial situation and you want to leave everything to your spouse, civil partner or your children, a DIY Will could be the ideal option for you.
However, if your financial circumstances are more complex or if you wish to leave different parts of your estate to several different people, it would be a good idea to use our bespoke Will writing service. This is to ensure that your Will caters to your specific needs and ensures that the Will is clear, unambiguous and that there is nothing which could invalidate it.
What are the advantages of a DIY Will?
It’s cheaper. You are in complete control of the contents.
It saves time – if someone is very unwell and likely to die soon, a DIY Will can be a suitable way for them to put their wishes in writing quickly and in a less stressful environment. The Will needs to be witnessed by a medical practitioner and another witness who can confirm that the person was of sound mind when they made the Will.
You can keep your personal matters private – some people do not want to discuss their estate with anyone else. A DIY Will lets you keep your wishes for what happens to your estate after you die between you and your witnesses.
How can I make a DIY Will?
If you’re going to make an online DIY Will, you should make sure that:
- You are over 18 and have the mental capacity to make a Will
- The Will is signed, dated and witnessed by two adults who are over the age of 18
- You follow the instructions in the Will kit very carefully
- You are specific in describing who you are leaving which of your assets to. For example, you should refer to family members by their full name to avoid any ambiguity
- The spelling, in particular the names of people or any other beneficiaries, is all correct – you would be surprised how often names are misspelt in Wills!
- You destroy any previous Wills and the new Will states that it replaces all previous versions
- You sign the Will correctly
- You tell your executor where your Will is stored
How much does a DIY Will cost to make?
- Single Will – £69
- Mirror Wills – £99 (£49.50 each)
- Printing and binding your Will – £10 for a single Will £15 for mirror Wills
- Legal Review of your Will – £15 for a single Will, £25 for mirror Wills
- Subscription service – £10 per Will per year which allows you to make simple changes to your document without any further costs.
Who shouldn’t make a DIY Will?
There are some circumstances which could mean that a DIY Will is not suitable for you. These include if:
- You own property abroad
- You own property in the UK that you wish to protect
- You have been married and divorced
- You are trying to reduce your inheritance tax bill
- You have foreign investments or bank accounts
- You own a business that you’re leaving to someone under your Will
- You have dependants other than your immediate family who rely on you financially
- Your Will includes any wishes that are even slightly complex or could be misunderstood
What are the risks associated with DIY Wills?
There are certain things you should bear in mind when making a DIY Will.
While a DIY Will may save you money in the short term, should any problems arise with the Will after your death, rectifying them could be very costly for your beneficiaries or family members.
What’s more, depending on your circumstances, if you haven’t received tailored professional advice before making your Will, your estate may not be as tax efficient as it could be.
If the Will is invalid or ambiguous as a result of mistakes you made whilst writing it, you will not have legal recourse against anyone.
When should I draw up a Will?
Whichever kind of Will you choose, don’t delay. The sooner you draw up your Will the better. You do not have to wait until you are older or unwell. Having a Will in place will help you feel confident that your wishes will be carried out after you die and will save you and your family members emotional uncertainty.
View our other Will Writing services
A standard Will may be enough to take care of your wishes and can be completed without the need for a consultation. Our online DIY Wills ensure that your Will is tailored to meet your exact needs and wishes.
Our FREE 20 minute video consultations help you decide what the best course of action is for you. Speak to an expert at a time to suit you to discuss your circumstances and how we can help.
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