Common Will Creation Mistakes

Naturally, one of the first things you’ll want to do as you mature into adult life is write a will. These small but significant documents will help to safeguard the future of your prized possessions and your finances.

However, wills are notoriously difficult to understand and require a significant amount of time and experience when planning them out. Therefore, it is extremely common for people to make large and sometimes devastating mistakes with their will which is of course something you should avoid. What's more, avoiding these common mistakes will also make the whole process go much faster which will make it much easier for your family to grieve.

Will creation is something many of us never really consider doing. After all, it's difficult to imagine a time when you might not be well enough to think it all through. However, this is why it is so important to write your will while you’re still healthy. This will mean you can make informed decisions and safeguard your estate for years to come.

Of course, there are still many mistakes and pitfalls to estate planning even for those who have written their will while they're young. So, check out these blogs to find out some common mistakes and how to avoid them.



Forgetting an executor

An executor will carry out the wishes of your will and divide your assets and money between the people you have chosen. This is an extremely important aspect of your will and must be written clearly in your document. Without a named executor there can be much confusion after you have passed which may even lead to family disputes. So make sure you choose someone who you are close to and trust completely.

Failing to consult legal advisors

After all is said and done a will is a legal document. Of course, there is sentimental value to it but its main purpose is to deal with all the legal proceedings after your death. Such as dividing your assets, dealing with inheritance tax, and settling your debts. For these reasons it is imperative that you hire some legal help to ensure that your will is written to professional standards and can be understood clearly after you have passed.

Here at Marshall Accountancy Ltd, we have many years of experience in helping people with their estate administration. We can advise you on all of the financial aspects of this process which is one of the most important parts of will writing. Having a trained professional by your side at this time can be extremely beneficial and there's no doubt that we can drastically reduce the stress you may be under.

Of course, the process will still be challenging at times but that’s why we're here to help guide you every step of the way. If you’re in need of some estate planning assistance then feel free to contact our friendly staff today to find out more.