Today it is easy to save money while having a will drafted as a plethora of online services offer downloadable forms and many cut rate providers offer to draft cheap wills. This is causing problems for families in the United States and the United Kingdom.
In the old days people who wished to have a will drawn up had very few options other than going to an attorney. There were a few books that offered legal forms, most of which people generally understood to be shoddy.
For the most part, the only realistic option was to hire an attorney, often a specialist, to have a will drawn up. Things are very different today.
Now, people can spend a few minutes online, pay a relatively small fee and create their own will. People can also go to all sorts of individuals who claim to be professionals in financial planning or retirement planning who will draft wills for their customers.
As these options are cheaper than hiring an attorney, many people choose them. Unfortunately, doing so is almost always a bad idea.
Fenland Citizen recently published an article titled “Cheap and nasty wills causing problems.”
The article notes one example in London where a cheap will caused a problem.
It seems a gentleman had a will drafted that gave half of a piece of property to another family member. However, the property was owned in joint tenancy by the man and his wife.
Thus, when he passed away, the entire house became the wife’s property as a matter of law. Now, the family member who was supposed to inherit half the property is suing the will drafter.
That is just one example.
The same type of thing happens every day in probate courts in the United States.
When you try to save money by getting a cheap will, it often costs more money in the long run because the will turns out to be defective in some way.
Contact an experienced estate planning attorney and do not leave your estate plan to chance.
Reference: Fenland Citizen (August 2, 2015) “Cheap and nasty wills causing problems“
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