Making your own Will can seem like a sensible way to save money. Online Will kits, downloadable templates and do-it-yourself Will forms are readily available, sometimes for very little cost. If your affairs appear straightforward, you might wonder why you should pay a solicitor to prepare your Will.

The problem is that a Will is not just a form to fill in. It is a legal document that needs to work when you are no longer here to explain what you meant.

A DIY will may be valid and may deal with your estate exactly as you intended. However, mistakes, unclear wording or overlooked circumstances can create expensive problems for your family. In some cases, the cost of resolving those problems can run into thousands of dollars.

Here are some common reasons why a DIY will can end up costing your family far more than you saved.

1. Your Will may not be properly signed or witnessed

In New South Wales, there are specific requirements for signing and witnessing a Will. Getting these wrong can create uncertainty about whether your Will is legally valid.

For example, you might download a template, sign it at home and ask a relative to witness your signature without realising that the witnessing arrangements are not appropriate.

Your family may then need legal advice or a court application to establish whether the document can be accepted as your Will. That can mean additional expense, delays and stress at an already difficult time.

A DIY Will is not automatically invalid, but getting the formal requirements right matters.

2. Your wording may not mean what you think it means

One of the most common risks is unclear wording.

Imagine you want to leave your house to one child and divide the rest of your estate equally between your other children. You prepare your own Will but do not clearly explain what happens if the house is sold before your death, or if one of your children dies before you.

Your family may disagree about what you intended. If the wording cannot be resolved easily, they may need a solicitor to interpret the document or, in a serious dispute, seek a court’s assistance.

Even if everyone eventually agrees, the legal costs of resolving uncertainty can reduce the estate available to your beneficiaries.

3. Your family circumstances may be more complicated than you realise

A Will that works for one person may not work for someone with a blended family, an estranged child, a second marriage or a dependent relative.

Consider someone who remarries and makes a DIY will leaving everything to their new spouse. They may not appreciate how their decision could affect children from an earlier relationship, or the possibility of a family provision claim.

Similarly, a parent who wants to leave different amounts to their children may need to consider how to explain and implement those wishes clearly.

A solicitor can identify potential issues and help you make informed decisions before they become disputes between family members.

4. You may overlook assets that do not pass under your Will

Your Will does not necessarily control everything you own or benefit from.

For example, jointly owned property may pass automatically to the surviving joint owner, depending on how it is held. Superannuation and life insurance benefits may be paid under separate arrangements. Assets held through a trust or company may also require separate consideration.

Suppose you assume your children will inherit your share of the family home, but you own it jointly with your spouse in a way that means your interest passes to your spouse when you die. Your will may not achieve what you expected.

Understanding how your assets are owned and how they will pass on death is an important part of making an effective estate plan.

5. Your Will may become outdated

Making a Will is not necessarily a once-only task. Marriage, separation, divorce, births, deaths, changes in property ownership and significant changes in your finances can all affect your estate planning.

An old DIY Will might leave a gift to someone who has died, fail to account for a new child or overlook a property you acquired years later.

For parents of young children, it is also important to consider who should care for them if both parents die. People with vulnerable beneficiaries may need to consider how an inheritance should be managed rather than simply leaving a lump sum.

Reviewing your Will when your circumstances change can help prevent unintended outcomes.

6. The real cost can be thousands of dollars

Imagine a DIY will costs $50, but unclear wording leads to a dispute between siblings over a $600,000 estate. Each side obtains legal advice, negotiations fail, and the dispute proceeds to court.

The legal expenses could amount to thousands of dollars or considerably more, depending on the complexity and length of the dispute. The estate may also be tied up for months or longer.

This is a hypothetical example, not a prediction of what every DIY will dispute will cost. Some problems are resolved relatively cheaply; others are not. The important point is that a small saving today can expose your family to much larger expenses later.

There can also be indirect costs: delayed inheritances, time away from work, damaged family relationships and the emotional burden of arguing over a loved one’s wishes.

7. Is a solicitor-drafted will worth the cost?

Online templates can be useful for understanding the information a Will needs to cover. For a straightforward situation, a carefully prepared DIY Will may work.

However, a template cannot necessarily identify problems you have not thought to ask about. A solicitor can discuss your circumstances, explain your options, check how your assets are held and prepare wording suited to your intentions.

The aim is not to make your Will unnecessarily complicated. It is to make sure it is clear, practical and appropriate for your circumstances.

Professional advice may be particularly worthwhile if you own property, have a blended family, want to exclude someone from your Will, have young children or dependants, or wish to distribute your estate unequally.

Protect your family from unnecessary expense

Your Will is one of the most important documents you can prepare for your family’s future. Saving money by making it yourself may seem attractive, but the consequences of an avoidable mistake can be far more expensive than obtaining advice at the outset.

If you live in the Blue Mountains, a local solicitor can help you prepare or review a Will that reflects your wishes and considers your circumstances.

Contact us now for free, no-obligation telephone advice about preparing a Will or reviewing an existing DIY Will. A conversation now may help your family avoid unnecessary expense and uncertainty in the future.