The problems of a home-made will

Stuck at home because of Covid-19 regulations and worried about the health implications of this pandemic, you may be tempted to grab a pen and piece of paper and quickly write out your own Will.

It might seem easy at the time, but for most people, their Will is the most important legal document of their life and getting it wrong can cause huge stress and heartache for their nearest and dearest. It can also mean that your wishes, that you thought so carefully about, cannot be fulfilled.

Your will sets out how your assets are to be distributed upon your death. Depending on the nature of your assets, your executors may be required to make an application for probate to the Supreme Court which when granted gives them the power to organise your assets in accordance with your Will. If your “homemade will” misses vital components or is vague in a core area your Will may be held to be invalid or probate not granted. If the terms of the Will are not complete or open to different interpretations it may mean that your assets are not distributed how you intend them. Some of the common areas we see being problematic in homemade wills are:

• The will not covering all assets — when someone drafts their own will they tend to focus on individual assets rather than the total of their assets which often means something is missed — particularly if assets are later sold, changed or new assets accumulated
• Gifting assets that cannot legally be gifted — like an interest in property held as joint tenants or gifting superannuation which may not form part of your estate
• Wills not complying with technical drafting, signing and execution requirements - there is legislation that governs the formalities associated with Will drafting, signing and execution. Many homemade Wills do not meet the strict formalities, which may leave them open to being challenged, or even in some cases, may render them invalid.

Your will is too important to leave to the chance and hope that you get it right if you draft it yourself. Our clients find having a lawyer work with them to prepare their Will is a positive experience giving them peace of mind that they have received the right advice that everything is as it should be.

When discussing with you your Will, OFRM lawyers take the time to make sure they have a comprehensive understanding of not only your wishes but also your assets and then work with you to devise the best Will for your circumstances.

While Covid-19 regulations are in place, we can meet with you via video to discuss your Will and then have a variety of methods in place so that you can effectively sign you will while social distancing — there is no need for you to try and do it yourself.

You can book an appointment with any of our Wills & Estate Lawyers here or phone Madeleine Debono on 03 5445 1063.