Creating your last will and testament is an important part of estate planning. But writing it yourself, without professional guidance, can lead to problems for your loved ones after you are gone.
There are 4 key reasons why you should not try to write your own will.
You could miss legal requirements
Each state has specific laws regarding the signing and witnessing of wills. If you do not follow your state’s requirements exactly, your will may not hold up in court after you pass away. This could tie up your estate for months in legal battles, preventing your assets from going to your chosen beneficiaries.
You may not know how to avoid probate
The probate process can take a significant chunk out of your estate’s value through court fees, attorney costs and more. Writing your own will puts your beneficiaries at greater risk of dealing with extensive probate processes.
Your wishes could get misinterpreted
Even with the best intentions, a homemade will may contain language that the courts easily misconstrue. Small ambiguities you never noticed could lead to confusion and disputes between your heirs.
You cannot anticipate all scenarios
Life is unpredictable. Your will should plan for a variety of scenarios, such as what should happen if one of your beneficiaries passes away before you do. You might not think of these types of situations, which can leave your will missing beneficial directives.
While writing a will on your own may seem like an easy way to save money, it often ends up costing your beneficiaries time, money and needless hassle in the long run. Ensure that your will is legally enforceable, comprehensive and clear to reduce the risks.
