
A “do it yourself Will” (DIY Will) is a Will that is not prepared formally by a solicitor and is usually made by the individual themselves using informal documents from an organisation such as the post office or even online.
However, completing a DIY Will can create unintentional risks that may result in your estate not being distributed in accordance with your wishes when you pass away.
First of all, A Will must satisfy the formal requirements to be formally valid and recognisable under The Wills Act 1997 (Victoria). A Will must be in writing, intended to be your Will and executed correctly in accordance with the legislation by signing the Will in the presence of two independent witnesses.
Some potential risks that can arise from a DIY Will include:
- Not identifying or gifting an asset properly that may result in the gift being ineffective or not distributed as intended;
- The wording of the Will being ambiguous or poorly drafted resulting in the construction of the Will being contrary to the Will maker’s intentions;
- Not keeping the DIY Will safe or losing the Will, resulting in the Court assuming that the Will maker did not have a Will or wished to revoke their Will; and
- Making a Will without testamentary capacity to do so, deeming the Will invalid.
Although it may be believed that a DIY Will is more cost effective and convenient, this is outweighed by the risk of the Will being scrutinised later by the Court when an executor applies for a Grant of Probate. Applying to the Court to rectify any issues or to provide guidance on the construction of the Will will be far more costly than the initial cost of preparing a Will with a solicitor.
It is important that your Will is valid and prepared correctly to reflect your wishes to give you and your loved ones peace of mind.
Scanlan Carroll specialise in estate planning and can assist you with your Will to ensure that your intentions are accurately documented.
Recent Articles
News Categories



