This is the seventh in our series of articles on the uncertainties of death.
“I can do my Will myself …. Right?”
Well …. yes but what is the “true cost” of trying to save a few dollars now??
If your “do it yourself” Will is not properly drafted, clear in its terms and correctly witnessed, the true cost of the Will may substantially exceed the cost of seeking legal advice now in the preparation of your estate planning.
Often it is necessary to make an Application to the Court to seek Orders to rectify defects in “home made” Wills.
Your home made Will might not be legally recognised and the cost to prove the document is your Will may be significant.
Also, it might not “catch” all of the assets that you intend, such as jointly held property, life insurance and superannuation.
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.