The dangers of ‘Do-It-Yourself’ (DIY) wills on succession

DIY wills are often not signed and witnessed correctly, leaving them partially or entirely invalid. Wills must meet various legal requirements (which vary by jurisdiction) in order to be valid. For example, UK wills must be made in writing and signed by the testator—or by another person at their direction and in their presence—in the presence of two independent adult witnesses, who must also sign the will in the testator’s presence.

DIY wills do not usually come with personalised tax advice which can lead to unintended tax consequences for your estate and/or beneficiaries. 

DIY wills are likely to fail to co-ordinate with your other estate planning documents, such as nomination forms in respect of insurance policies and/or pensions, and other lifetime trusts. This could result in unintended tax consequences or the succession of your assets to unintended beneficiaries. 

DIY wills can be easier to challenge in court, especially if mental capacity, knowledge and approval or undue influence is in question. This could be because your loved ones feel excluded or surprised by the terms of your will or because the will has been poorly drafted. Legal disputes can be extremely costly and time-consuming. 

Life changes such as marriage, divorce, birth of children, birth of grandchildren and/or the death of a beneficiary require updates to your will. DIY wills are rarely maintained properly, leading to outdated wishes and/or unintended consequences.