Here at the Society of Will Writers we believe that everyone should plan appropriately for their future and have a robust estate plan in place. An estate plan should be bespoke to you and your individual needs, but the key elements for everyone should be a will and lasting power of attorney (LPA). With that in mind, lets look at the five most common mistakes people make when it comes to making a will so you can start your planning already knowing how to avoid them.
1. Unclear or ambiguous wording
Precision matters in a legal document. Vague descriptions like “my estate to my family” or “£1000 to each of my friends” without identifying individuals and shares can create uncertainty. Ambiguous language can lead to delays and disputes among beneficiaries, and in some cases increased legal costs if court proceedings are required to interpret the testator’s intentions. Specifying names and relationships of beneficiaries and being very clear about what is being gifted in the will helps reduce the risk of misinterpretation and make sure your wishes are carried out.
2. Choosing the wrong executors
The executors are the people who will stand in your shoes after your death and deal with the administration of your estate. There is more to this than following your will and ensuring your beneficiaries receive their gifts. They may need to apply for probate, complete forms for HMRC to declare and pay inheritance tax on your estate. Choosing someone without the time, willingness or understanding of the responsibilities can lead to delays administering your estate. It’s sensible to discuss the role with prospective executors and consider substitutes if your first choice cannot act when the time comes.
3. Improper signing and witnessing
For a will to be valid it must meet strict formal requirements. You must sign the will in the presence of two independent witnesses, both of whom must also sign in your presence. If this is not done correctly the will won’t be valid. An invalid will means your estate will be distributed following an older will, or if there is no will then the intestacy rules will apply.
Another common mistake when it comes to witnessing the will is using inappropriate witnesses. Your witnesses should be adults, must have capacity, and must not be blind. They must also not be beneficiaries of the will or married to or in a civil partnership with a beneficiary. If you do use a beneficiary as a witness then the will itself will still be valid, but that witness will lose their right to benefit from your will.
4. Ignoring Inheritance Tax planning
Estate values large enough to attract inheritance tax benefit from proactive planning. Failing to consider available reliefs, exemptions, or the impact that lifetime gifting can have on your estate at death can result in a heavier tax burden for your estate and beneficiaries. Seeking professional advice can help you ensure you make the best use of available exemptions and relief, and structure your will in a tax-efficient way.
5. Not seeking professional advice
Will Writing is not regulated. This means that anyone can write a will. That’s a huge part of why the SWW exists. We provide a framework of voluntary regulation to provide assistance and support to Will Writers. We also ensure that a member of the public using an SWW member to draft their will can be sure that the person they are dealing with is safe to do business with, has more than sufficient knowledge of their field, and there is some form of redress in the form of professional indemnity insurance and a sympathetic complaints procedure if things do go wrong.
DIY will kits and online templates can give the impression of simplicity, but they rarely account for individual complexity. For some people their biggest mistake when it comes to writing a will is trying to go it alone and not seeking out professional help. With professional help many of the above common mistakes can be avoided.
To understand more about the SWW and why you should use an SWW to draft your will see here.
To find an SWW Member see our Member Directory here.
