Is Your Will Worth the Paper It’s Written On?

For many Australians, a “Post Office Will” or DIY will kit may appear to be a cost-effective and convenient way to record their testamentary wishes. In some limited circumstances, such documents may be suitable for individuals with very simple assets and uncomplicated family arrangements.

Read about five legal documents every adult should review here.

However, in our experience, estate planning is rarely a one-size-fits-all exercise.

A standard-form will is often designed for general use and may not properly address a person’s specific family, financial, or business circumstances. This can be particularly important for clients with blended families, young or dependent children, family trusts, companies, significant assets, overseas assets, estranged family members, or beneficiaries with disabilities or special needs.

A cheap DIY will can become expensive if it fails when your family needs it most.

One of the key risks with DIY wills is that drafting or execution errors can have serious consequences, and may even lead to the will being declared to be invalid. Ambiguous wording, incomplete clauses, incorrect signing procedures, or a failure to deal properly with particular assets may lead to disputes between beneficiaries, delays in administering the estate or challenges to the validity of the will. In many cases, the legal costs involved in resolving those issues can far exceed the initial savings of avoiding professional advice.

A further limitation is that basic will kits generally do not include more sophisticated estate planning mechanisms, such as testamentary trusts, asset protection provisions, tax-effective planning, or tailored arrangements for vulnerable beneficiaries. These strategies may provide significant long-term benefits and greater certainty for the people intended to benefit from the estate.

Professional will drafting also allows a solicitor to consider important legal issues that are often overlooked, including testamentary capacity, potential family provision claims, the appropriateness of proposed executors, and whether the will properly reflects the client’s overall estate planning objectives.

Accordingly, while a Post Office Will may be adequate for some individuals with straightforward circumstances, many clients should obtain legal advice before preparing or updating their will. A properly drafted estate plan can help ensure that a person’s wishes are clearly recorded, legally effective, and capable of protecting their beneficiaries when it matters most.

Need guidance with your will or estate planning? Speak with Barratt Law before making decisions that may affect your family’s future.