We all know about the importance of a will. We read articles and hear from people who already have wills, and we see how important it is to create one.
As compared to a few years back when only a few people had a will, today, people are more aware of their duties and are concerned about the future of their families.
Today, Almost 60% of adult Australians have made a will, and 93% of people over 70 years of age have a will.
So, we will not discuss its importance, then what is the purpose of today’s blog?
Well, we will discuss one of the crucial aspects that most people practice, and others are not unsure about.
What are we talking about?
Whether you should create a will yourself or hire Adelaide Solicitor.
A DIY Will
Do-It-Yourself will is a will that you write. When making a DIY will, you can use a will template, an online resource, or a will kit to help guide you through the process. DIY is only recommended if you have the knowledge and expertise to manage legal documents.
The following are the pros of making your own will without the help of an attorney.
Pros Of DIY Wills
- It’s easy to create a will if you have minimal or moderate assets
- It is also affordable to create a will by yourself
- It’s fast
- Avoids Lawyer Fees
Choosing a Lawyer for Will
Creating a will can be a lot of work. And if you have no or little understanding of legal aspects, it is always recommended that you hire experts.
Because one mistake can ruin your entire work, and you might end up creating will again.
The following are a few scenarios where you are advised to hire a solicitor:
Complex Family Dynamics: If you have children from multiple marriages, blended families, or estranged relatives, a solicitor can ensure your wishes are clear and minimize the risk of future disputes. They can also help navigate issues like guardianship for minor children.
Significant Assets: Owning a business, property in multiple locations, or having a large investment portfolio requires careful planning in your will. A solicitor can ensure all your assets are accounted for and distributed according to your wishes while minimising tax implications.
Unique Bequests: If you plan to leave specific gifts or establish trusts, a solicitor can ensure these wishes are legally sound and avoid confusion during probate.
Medical Directives: In addition to a will, you might want to consider creating a living will or healthcare power of attorney. A solicitor can help you create these documents to ensure your medical wishes are respected.
Benefits of Hiring Lawyers for Wills?
- Ensure you meet all the legal requirements
- An Attorney Will Avoid Common Mistakes
- Help you save money
- Get to know you and ask your wishes to create an estate plan that’s just right for you.
- They establish a legitimate trust for individuals with special needs.
- They are capable of generating a precise, durable power of attorney or advance health care directive.
Though the DIY creation process might be appealing to those looking to save money, in reality, in most cases, people end up hiring experts to correct the mistakes they have made in the will in the first place.
Now it depends on you which option you want to go with.
If you choose to hire an attorney, the following are a few steps to find a trustworthy expert:
How to Find an Estate Attorney
The market is flooded with lawyers for wills, but it is important to know not all of them are experienced and ideal for your trust.
So, when searching for an attorney, look for an expert who:
- Focuses on estate planning
- Expertise in a particular legal Field
- Strong Reputation
- Who is licensed to practice
- Must have reliable communication lines
Summary: Above, we mention both scenarios where you should hire experts or create it yourself.
Now you have to calculate your condition and decide which option is best for you. In case you.