DIY Will - Omissions?

theoretica

The wording about trusts for the children - will the trustees also be the children's guardians?  Are you sure about setting up potential conflicting opinions about the children's best interest between guardians and trustees?  You will trust the guardians with your children, but not with the children's money?  You talk about using the income of the child's share - what about the capital if they need it - which they likely would! 

How much do you spend on insurances in a year - spending money to be covered incase something happens but hoping it won't.  Getting a good will is exactly that - insurance.

Username03725

PledgeX2 said:

I trust everyone in my family, and obviously the executors, so I have no concerns about anyone challenging the will. If I had any inkling of this, then yes, I'd definitely go down the solicitor route. 

This is what leaps out to me - you're relying on goodwill and trust that exists now, and for that not to change. I've said it on here before but my siblings and I (there are plenty of us) were as close you'd dream of before and for a while after the first and then second deaths of our parents. Then a minor quibble became a trigger for a larger split and now some can hardly talk to the others, despite my best conciliation efforts. 

There can be any number of reasons for supposedly rock-solid family relationships turning sour. Don't rely on that not happening, nor use it as a reason for saving a trivial amount of money where your will is intended to distribute all of your assets.

EasySolution

The attestation clause will surely trigger an affidavit. (delay)

Pollycat

PledgeX2 said:

I trust everyone in my family, and obviously the executors, so I have no concerns about anyone challenging the will. If I had any inkling of this, then yes, I'd definitely go down the solicitor route. Similarly if my estate/family became more complex, then I'd go down that route too.

I'm sure other people have thought that too.
But we've all seen enough threads on here that proves the opposite.

I would not DIY my will.

Keep_pedalling

It’s not an issue of trust, people suddenly having to deal with a sudden death often will take legal advice if they are unsure how to proceed (especially if minors are involved), if that solicitor finds something in the will that makes it invalid then there is a big and potentially expensive problem to deal with. 

Wills also need to go though probate which is another stage where an error in the will can be picked up.

user1977

PledgeX2 said:

8.   FINAL DECLARATIONS

I confirm that

a. I am mentally capable of making my own decisions about my Will;

b. I am voluntarily making this Will;

c. I have considered everyone I might reasonably be expected to be provided for by my Will;

d. I understand the contents of this Will and it is a true reflection of my wishes.

If anything, this sort of clause would be likely to make me query whether all of those statements were actually true and what the testator (or whoever was twisting their arm) was trying to cover up! Surely somebody who didn't understand the contents etc would just be signing anyway?

Bonniepurple

I have been a joint Executor of both my parents’ Wills.  My Dad’s, although a complicated estate, has been easy to action.  His was written by a solicitor.  My Mum’s Will was DIY and very difficult to action- and what we could see she wanted was not actually how it was written.  It even had the potential to reduce the nil rate inheritance tax allowance that my father’s Estate could claim.  7 years after she died, the DIY Will is still causing issues.

I am about to book an appointment with my solicitor to make my Will.

Mojisola

PledgeX2 said:

I think this is the issue I've overlooked. In my head, I'm thinking "who cares if it's legally ambiguous, when it's obvious to my wife and the executors what it means, and they're the ones that would be be making the decisions" (I know they understand it, because we worked on it together).

But if for whatever reason, a solicitor gets involved, then I understand why things could be get a bit murky. 

What sort of reasons would someone other than your named executors get involved when it comes to assessing a will?

I used a solicitor to do the work (while I stayed as executor) because I wasn't well enough at the time to do it myself.

As your alterative executors are older than you, they may not be well enough or mentally competent to manage the estate.

poppystar

I’m confused as to how the 60 day survival clause can work for an executor. Would your wife have to wait 60 days to prove she was still alive before beginning executorship? If she starts it and then dies within those 60 days then effectively that clause is redundant anyway as dead people can’t be executors. Easier just to have reserve executors or two or three executors and let the others renounce if your wife wants to do it. You say they all get along so that should not be an issue.

AKW

In my experiance, solicitors can get it wrong, too.
I just took my will back from the solicitor and re-wrote it. In the solicitor-composed will the most text was about them and what they are entitled to charge. Also it said that if my trustees and executors are unable or unwilling to act, I appoint the law firm, which would make it impossible for my trustees to ask anyone else.
Also there was no wipe out clause. Two identical wills, one page £600!