The price of a “free” Will..

Why you wanting to save money now could cost your loved ones thousands… 

The age-old saying "You get what you pay for" typically holds true. It's now quite easy to find a "free will" or “DIY will” online. However, opting for a free will can lead to serious problems in one of the most crucial documents a person will ever create—a will. A free will might not be in the best interests of you and your specific situation.

Half of New Zealanders do not have a will, and our statistics indicates that many lack an up-to-date one. 

Here are some examples of issues that can arise from free or DIY wills.

• Lack of clear and detailed instructions, especially regarding your relationship status.

• Incomplete or incorrect information about your assets, liabilities, and ownership details.

• Failure to address overseas assets and competing wills. 

• Excluding someone and making your estate subject to a family protection claim, which you will have to pay for, resulting in less being given to those you love.

• Failure to check for restrictions created from previous wills.

• Failure to account for various family dynamics.

• Not considering implications and legal requirements for executors and or beneficiary residing overseas.

While some will challenges are inevitable, many can be avoided. Instances like these have incurred substantial costs for the estate (eg you) and, consequently, your family, amounting to thousands and thousands of dollars. Many of these costs and situations could have been avoided had the person received professional advice in the first instance.