What are the risks of having a DIY Will?
An error, even a small error in a DIY Will could cost thousands of dollars, and many months, to correct.
An example I have seen is where a person with a relatively simple estate (a house, some savings and some shares worth about $800,000) prepared his own Will.
Unfortunately, it was not entirely clear which assets he left to which beneficiaries. The total costs (including stamp duty and capital gains tax) to correct the error was in the vicinity of almost $350,000.
A Will prepared by an experienced Wills & Estates Lawyer would have cost him around $500.