I have written previously about the pitfalls of home-made Wills.
Although it may sound like I’m trying to drum up business in recommending your Will be prepared by a solicitor, there is some support from Master Sanderson in a recent Supreme Court of Western Australia decision.
The case dealt with an ambiguous term in a home-made Will. Master Sanderson stated ‘the deceased drafted an ambiguous clause which has led to confusion and dissent within the family. It has also led to the expense of this litigation. The cost of a professionally drafted will pales in comparison with the legal fees the estate will have to bear as a consequence of this action.’
It is sensible to take appropriate financial and legal advice when acquiring assets during your lifetime.
It is also sensible to take that same advice in ensuring those assets are distributed in the way you intend on your passing.
There are many matters to consider as part of an effective estate plan.
By not taking on the responsibility to have your Will and estate plan in place, you can cause unnecessary emotional hurt and significant cost for friends and family members.