DIY Will Kits - Do they work?
In recent times, I've encountered several clients who have approached me with wills created using national will kits or those obtained from the post office. While a will, if meeting certain requirements, is legally valid, the pitfalls of relying solely on a generic will kit become apparent when faced with the intricacies of succession law and individual family dynamics. In this article, we'll delve into why a tailored approach with legal guidance is crucial in estate planning.
Essential Will Requirements in Queensland
A valid will in Queensland must meet specific requirements. It should specify an executor, revoke previous wills, list beneficiaries, and be dated, signed, and witnessed by two independent individuals who are not beneficiaries under the will. While a national will kit can adhere to these basic requirements, the complexities of individual circumstances often go unaddressed.
The Pitfalls of DIY Will Kits
The allure of a DIY will kit lies in its accessibility, but the risks associated with this approach are considerable. Without a comprehensive understanding of succession law, individuals may inadvertently overlook critical aspects. Issues such as owning a company or being a trustee of a trust, family disputes, or the intricacies of a family provision application might not be fully grasped.
Overlooking Key Considerations
National will kits may not cover certain essential considerations. For instance, the kit might not adequately address the appointment of guardians for minors, leaving a critical aspect of estate planning unattended. The generic nature of these kits often falls short when faced with unique family dynamics or specific scenarios that demand careful consideration.
The Importance of Legal Guidance
Seeking legal guidance ensures that your will is not just a formality but a robust and comprehensive document that aligns with your unique circumstances. Understanding the intricacies of the law, especially in complex situations, is crucial for airtight estate planning.
If you've used a national will kit and find yourself contemplating the need for further discussion, don't hesitate to reach out. Call me at 0414 193 373 or visit my website to book a free consultation at www.viccalaw.com.au. Your estate plan deserves the attention to detail that only personalised legal guidance can provide.
In conclusion, while national will kits may offer a seemingly straightforward solution, the risks associated with overlooking critical considerations make legal guidance indispensable. Estate planning is a nuanced process, and consulting with a legal professional ensures that your wishes are not only documented but also legally sound and comprehensive.