There are a few simple mistakes that people make when completing their Wills that can make them invalid and create confusion and conflict later on.
Here are 7 mistakes that are commonly made:
(1). Making a mistake with your personal details.
Ensure you state your full name and address. Include your middle name if you have one. If you are known by another name then include that too. For your beneficiaries include their full name and addresses too. You can edit everything on your documents yourself so check for any spelling mistakes. If you make a mistake with your name, to ensure account security, you will need to contact us to change this for you at support@ourwillsyourway.com.au
(2). Appointing an unwilling executor
Make sure that whoever you appoint as your executor is aware of the appointment, understands the role and agrees to do it. It is also a good idea to have a substitute/back-up executor in the event that the primary executor is unwilling or unable to act.
(3). Not communicating with your children’s guardian about your intent and wishes
If you want to appoint guardians for your children it is important to discuss what you expect with them and to obtain their consent. Sharing your wishes with them, while not typically part of a will, can be documented separately to provide clear instructions about your expectations.
(4). Failing to include instructions about your residual estate
Most wills will start by nominating specific gifts and donations to people or organisations. Usually these will be money, shares or physical items. What is left over is the “residual estate”. You must provide instructions about the distribution of your residual estate or assets. If you are leaving them to more than one more beneficiary you should allocate a percentage of the estate to each one.
(5). Choosing a simple will when you have complex circumstances
In some cases, the circumstances of a person’s estate are such that is requires specific bespoke drafting from a lawyer. Complex family structures (e.g., blended families) and overseas assets are examples of where complex circumstances exist and a simple Will may not suffice.
(6). Failure to execute the Will properly
For a Will to be valid you have to sign and date it in front of two adult witnesses who cannot be your spouse or beneficiary(s). This is a common mistake that is easily avoided with due care. Please check your witnessing document for instructions.
(7). Not being able to locate the original Will After you have signed your Will, keep it in a safe place and tell your family and the executor named in the will where to find it. Do not staple, pin, affix or attach any additional items (for example personal notes, letters or documents) to your Will. This may give the impression there was another document to be included with or read in conjunction with the will, and it may make it more difficult for the Will to be accepted by the court. It is also a good idea to obtain a certified copy of your Will and store it separately to the original.
