It may be tempting to update your will or other estate documents yourself, especially with the growing number of online resources available. However, UK estate laws can be complex and even minor errors can render your estate plan ineffective. Mistakes could lead to disputes among beneficiaries, unintended tax consequences, or the will being declared invalid altogether.
Common DIY risks include
Incorrectly witnessing the will.
In the UK, a will must be signed by the person making the will (the testator) and witnessed by two independent adults. Failing to follow these legal requirements could mean the will is not legally valid.
Not accounting for inheritance tax.
An estate planning professional can help you minimise inheritance tax (IHT) liabilities, ensuring more of your assets go to your loved ones rather than being lost to tax.
Outdated provisions.
Changes in law, particularly around inheritance tax or trusts, could render parts of your will outdated. A lawyer will ensure that your plan remains in compliance with current legislation.
The Benefits of Professional Guidance
Customised Advice.
A lawyer can tailor your estate plan to fit your unique
circumstances, including asset management, guardianship of minors, and even care for pets. They can also offer advice on more complex issues, such as setting up trusts or reducing inheritance tax.
Legal Compliance.
A solicitor specialising in wills and probate ensures your estate plan is legally valid, follows UK law and meets the requirements for your assets to be distributed according to your wishes.
Protection for Your Loved Ones.
Estate planning goes beyond just a will. A lawyer
can help you set up powers of attorney for financial and health matters, and even advance directives (sometimes called living Wills) ensuring that if you become incapacitated, your wishes will be followed.
Secure Your Future Today
Don’t leave your estate plan to chance. Get in touch with Atterbury Payne today to ensure your wishes are safeguarded and your loved ones are protected. Our experienced solicitors are here to guide you every step of the way.
