Do I Need a Lawyer to Make a Will?

Of the many common misconceptions surrounding Will writing, there’s one specifically we want to clear up. When people think about Wills, many are put off from writing one because they think it’s too complicated, costs too much money, or they’ll need to hire a lawyer to get it sorted. If this sounds like you, don’t worry. You’re not alone however, you may have more options than you think so let’s take a look!  Writing a Will is much easier and less time-consuming than you think, and our online Will writing service makes it simpler than ever before. A Will is not just a way of making your last wishes known; it’s also a way to protect the ones you care about after you’ve passed.

So, the big question remains, if you’re considering making a Will, is a lawyer really a necessary part of the process? Continue reading to learn more.

Do I need a lawyer to prepare my Will?

In most situations, Wills are fairly straight forward, so the answer is no. However, there are definitely times when a Will is considered complex. In these situations, we would recommend a trustee company like Perpetual Guardian or a Lawyer if you have one you know and trust. Unless you’re one of the few with special circumstances, you can absolutely have a legally valid Will without having to pay legal fees.

The basic requirements that need to be met when writing a Will are simple. You need to be of sound mind, eighteen years or older (unless you’re in the military) and you can’t be unduly influenced or coerced by anyone else when writing it. When your Will is drafted to your requirements, all that’s left to do is for you and two witnesses who are not named in your Will to sign and date it.

Who can prepare a Will for me?

A Will can be prepared by an online Will writing service such as Footprint, a trustee corporation, or a lawyer, or you can DIY it with a kit. Each choice has its own benefits, so if you’re thinking, “Cool, but which option should I choose?” read our list below. There is no right or wrong choice, but an informed decision can make all the difference. 

Trustee Corporation

A trustee corporation specialises in trusts as well as advisory services relating to estates and Wills. They can help you write a Will and act as the executor, which means they would be responsible for making sure your wishes are carried out. They can also act as the estate trustee, who is responsible for holding your assets until they can be placed with the beneficiary.

A Lawyer

Lawyers all have their own charging structure; they may charge a set amount for a Will or an hourly rate. An hourly model can have disadvantages by the time you have asked your questions, made a few changes, and had the papers signed. The more time involved, the higher the end fee can be.

Do It Yourself

You may have heard a story about someone writing their Will on the back of a napkin, so you might think “why write a formal Will at all?” The problem with this story is the part they don’t tell you. The average cost to administer an estate in New Zealand with a Will in place is $10,000. Without one, costs are estimated to be 50% higher. Without a Will, the process of obtaining letters of administration and completing estate administration takes a lot more time and is more complex, which means it’ll be much longer before your beneficiaries receive their inheritance. More complexity can also mean higher fees if a lawyer needs to get involved to help sort everything out and all those fees get taken out of your estate. It‘s not unusual for an estate with no Will to take between 18 months to 2 years to settle. In some cases, this has resulted in a spouse or main beneficiary having to take out a loan, sell possessions, or borrow from friends and family. Putting a Will in place is less about you and more about the people you leave behind.

Online Will Writing Services

If you want to create a Will at your own pace while sitting in the comfort of your own home, and also want to save heaps of money, then an online Will provider such as Footprint might be just what you need. When you write your Will online with Footprint, all you need to do is follow our easy fill-in-the-blanks template. Once you submit it, our professional Will drafters review your Will and put it in a legal document for you at no extra cost. Then, all that’s left is for you to give it the once over and sign and date it with your witnesses. It’s that simple!

Creating a Will online has never been easier. If you select one of our subscription models, you can update your Will annually, store it in a digital vault, and then send us the signed and witnessed original so we can tuck it away for you in a flood and earthquake-proof location. Your loved ones will know that you have a Will and where it is located because you can also send them a notification that lets them know who to contact should the worst happen.

Take control of the Footprint you leave behind

If you’ve ever wondered, “what’s a Will, really?” or if you’re keen to get cracking and get yours sorted today, check out our Will information and online services.