A will ensures proper execution of your wishes when you die. The laws around will are complex. If you're unfamiliar with them, you may need an expert to guide you in the writing it. A slight mistake in your will can cost your loved ones their legitimate share of your property. So there should be no room for mistakes. Otherwise your beneficiaries may suffer for it.
Other than some members missing out in property share, a bad will leaves your family and friends in problem-solving dilemmas. If anyone challenges the will in a court of law, it may end up being invalidated.
It’s obvious that writing a will isn’t a very easy process as some people think. There are several pitfalls that can invalidate your legitimate will. To help you evade such mistakes, we have compiled a list of mistakes that most people make.
Top 10 common mistakes when writing a will
1. Absence of valid witnesses
The law demands that a legitimate Will to have two independent witnesses. The witnesses also must pass some qualifications. One, they must be 18 years and above. Additionally, the witnesses should not be people who are beneficiaries of your Will.
Additionally, a witness should not be your relative. The beneficiaries should also be present in person when signing the Will. In the event you violate any of these, like including your relative as a witness, then your will is invalid. And it’s a common mistake that most people make.
2. Storing Will photocopies.
The court requires you provide the original copy of your will to administer your Will. If the executor presents the copies, it is hard for your beneficiaries to get what you gave them. Let us say you have several locations that you keep your documents, and then tell a close friend where the original copy of your will is.
3. Your partner or child signing the Will
Having your child or partner sign your will is another biggest mistake that you can make when writing a Will. According to the law, no witness should benefit from the Will. So, when one of them signs, he or she could inadvertently disinherit all that you gave them.
4. Amending the will after signing
It is hard to amend your will once you sign it under witnesses. Any changes you make won’t count in your existing will. However, you can still make official alterations called Codicil.
The alterations are the same as the will in their mode of processing. The signing is done in the presence of a witness just like the will. If you are making a major change, it’s only imperative to write a new will. This will help to avoid any confusion amongst your heirs or administrator after you die.
5. Forgetting intangible assets
In most cases, people remember only their tangible assets when writing a will. These include houses, cars, and land among others. You should also remember to include your intangible assets when writing the will. These include things like bank accounts, premium bonds, or even shares.
You may also pass the loyalty points obtained from big pools. If you have a brand with social media accounts, you may include social media accounts in your will. This will allow someone to continue managing your legacy.
6. Excluding step-children
If you had a partner with whom you bore a child, it is good to name them in your Will. Many people tend to forget their step-children in their wills. So, you can simply say “for my children” to avoid issues in case such arises after you die. When you mention them or generalize the whole title identity, there will be no confusion when executing the will.
You can also will them explicitly by names and what you want them to inherit. The same applies for adopted kids who are considered as biological children.
7. Failure to appoint an executor
An executor is a person in charge of your estate administration when you die. You may appoint a friend or a family member to be your executor. There are also professional executors also known as a solicitor. All these are appropriate people you can appoint to oversee the division of your property.
If you forget to appoint an executor, the probate courts will appoint one for you. The person appointed obviously will not be the choice you wished to have. So, failing to appoint an executor for your will is a major mistake that no one should make.
8. Being too specific
Being too specific when writing a will can be dangerous. The professional executors will advise you not to be specific about certain things. For example, you may indicate in your will that a “Red Mercedes” belongs to a certain kid. Circumstance may force you to sell the car before you die.
So, what will happen to the one given the sold car? That’s why it’s advisable not to be too specific on your will. Alternatively, you can update your will periodically to capture changes.
9. No Plan B
You need to have an open mind when writing your will. Ask yourself, what if you outlive your beneficiaries? What happens? A lot of people always think that they will die before the children which is not always the case. That’s why you need to be open-minded and think of such scenarios.
Write an elaborate will of how you want everything shared if supposedly some children die earlier. You can give them an option to choose their heirs and the like. You can also choose one for them.
10. Including burial wishes in your will
Another mistake people make is putting their burial wishes in their will. No one reads the will before the owner’s burial. The best way to make your burial wishes is to write a letter to your friend or relatives telling them what you want done during your burial ceremony. Otherwise your wishes may not be honored if you put them in a will.
Conclusion
Are you in the process of writing your will or want to write one? Our top 10 common mistakes in writing wills should help you. If you avoid falling into these pitfalls your beneficiaries won’t have to battle it in courts. Due to these mistakes, some people leave behind confused heirs. In case you realize you’ve already made any of these, you can rectify as early as now.
Disclaimer
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