Can I prepare my own Will or use a do-it-yourself Will kit?
Preparing your own Will is not advisable. A Will must conform to strict legal requirements otherwise the Courts may decide it is not valid. If this is the case your assets will be distributed according to a pre-determined formula and not as you intended.
Anyone who is not legally qualified risks making a mistake, creating uncertainty or losing opportunities for good estate planning if they make a Will for themselves.
The precise wording of a Will is a specialised and important legal task. The ordinary meaning of words is not necessarily the same as their legal meaning. Ambiguous wording is extremely common in home made Wills and may result in substantial cost and delay in having the Supreme Court resolve the ambiguity.
A Will is an important legal document. It is therefore advisable to have your Will professionally drafted and ensure your wishes are properly recorded and carried out.
Where should I keep my Will?
Most people realise the importance of making a Will. However, a Will can only be used if it can be found when required. It is important to store your original Will in a safe place. It’s a good idea to tell someone close to you where your Will is stored. There have been many instances where family and friends were aware that a Will existed but they were unable to locate it when it was required.
If you make a Will with NSW Trustee & Guardian your original Will is held free of charge in a fireproof safe. You will receive a copy for your own records. This ensures your Will won’t be misplaced and is able to be easily located when required.
You can use the Wills summary below to prepare for a meeting to draft your Will.
My Plan Builder - Will
Build your own Wills plan here. More info