DIY estate planning ‘a risky option’

Posted 18/05/2011

Brits who may be looking to draw up a Will themselves have been advised to seek professional advice, as going it alone can be a hugely risky option.

This is according to Standard Life, which found that nearly half of people are using internet resources for guidance when it comes to their estate planning.

Although solicitors remain the most popular option for those looking to settle their assets, online information has seen a large jump in popularity.

However, head of estate planning at Standard Life Julie Hutchison pointed out that the figures do not indicate how many people are fully going it alone and what percentage are simply doing prior research before speaking to a professional.

“Due to the complications and seriousness of drawing up a Will or dealing with inheritance tax, any DIY option can be very risky,” she warned.

Recently, seeking out professional advice was also recommended by Keith Johnston, director of philanthropy at the Society of Trust and Estate Practitioners, who said this is a sensible way to avoid making any mistakes which can later be disputed in court.

Ashtons Legal has a team of solicitors across the Eastern Region who offer estate planning advice in the traditional face-to-face way and regularly help people to save considerable amounts of tax. We also have an online option designed primarily for people with straightforward family circumstances and assets below the Inheritance Tax threshold.

This is not however DIY as the Will is submitted electronically and checked by a lawyer before being finalised. To find out more go to www.kcjonline.co.uk