Daniel Watson examines the pros and cons of DIY wills in Taxation

Daniel’s article was published in Taxation, 9 October 2023, and can be found here.

Daniel Watson, Senior Associate in our Private Client department, explores the risks and limitations of using DIY wills and unregulated will writers.

While the appeal of saving money especially during a cost of living crisis is understandable, Watson warns that these alternatives to professional legal advice can lead to significant problems. DIY wills may seem suitable for those with straightforward estates, but they often lack the precision and legal robustness needed to ensure a person’s wishes are properly carried out.

He explains that unregulated will writers, though often cheaper than solicitors, do not offer the same level of legal protection or accountability. Mistakes in drafting, failure to consider tax implications, or unclear wording can result in disputes, delays, or even the invalidation of the will. Daniel stresses that while upfront costs may be lower, the long-term consequences of poorly drafted wills can be far more expensive and distressing for loved ones. His advice is clear: when it comes to something as important as your legacy, professional guidance is well worth the investment.

Read the full article on the Taxation website [subscription required].