In Australia, one option for creating a Will on the cheap, is by using a Will Kit from Post Office Australia. These Will kits offer a convenient and cost-effective way to draft a Will and avoid the potential accumulating costs of an estate lawyer. However, like any solution, there are pros and cons to consider when thinking about writing your Will with a Will kit from the post office.
In this blog post, we will explore the benefits and drawbacks of an Australia Post Office Will Kit - shedding light on why they’re so affordable, the potential downsides, and alternative online options for creating your Will.
A Post Office Will Kit packages the necessary materials and instructions for creating a basic Willl, without the involvement of a lawyer. This kit typically includes pre-printed templates, step-by-step guidelines, and information on legal requirements for creating a valid Will.
One of the primary advantages of a Post Office Will Kit is its low cost. Compared to hiring a lawyer, purchasing a DIY Will kit from the post office can be significantly cheaper, making it an attractive option for those on a tight budget.
Post Office Will Kits offer a convenient solution for individuals who have straightforward estate planning needs. The kits are easily accessible and can be obtained from any Australia Post outlet, eliminating the need to schedule appointments with lawyers. For those on a busy schedule, it's a flexible way to write your estate plan.
These kits are designed to simplify the Will-making process. The templates and instructions provided help individuals structure their wills and navigate the legal terminology, making it easier for those without legal expertise to draft a basic Will.
Some individuals may prefer the privacy that comes with using a Post Office Will Kit. With no involvement of a lawyer, they can maintain confidentiality regarding the contents of their Will.
Post Office Will Kits are generally more affordable compared to hiring a lawyer. But why, and what’s the catch?
Firstly, these kits are standardised and mass-produced, allowing Australia Post to keep the production costs low. The absence of legal advice or personalised assistance further reduces the expenses associated with these kits.
With this in mind, the cost benefits of a Post Office Will Kit comes at the expense of personalised advice, and may end up costing more time, stress and money further down the line if complications arise.
While Will Kits from Post Office Australia provide a basic framework, they do not offer personalised legal advice. Every individual's circumstances are unique, and a one-size-fits-all approach may not adequately address complex estate planning needs.
Without professional guidance, there is a risk of errors, omissions, or misinterpretation of legal requirements, potentially leading to a Will being deemed invalid or contested.
Post Office Will Kits are designed to accommodate simple Wills, but they may not cover specific situations or address complex family dynamics. Individuals with blended families, dependents with special needs, or considerable assets may require more tailored estate planning solutions that a Post Office Will kit cannot provide.
After creating a Will using a Post Office Will Kit, updating or amending it may become challenging. Changes in personal circumstances, such as marriage, divorce, or the birth of children, may require modifications to the Will. Without proper legal guidance, individuals may struggle to make necessary changes and be left with an out of date or invalid Will.
While a Post Office Will Kit may be suitable for individuals with straightforward estate planning needs, it is essential to understand its limitations. For those with complex assets, family situations, or beneficiaries with special requirements, seeking legal advice from an experienced professional is recommended.
Even for those with a simple estate, legal advice can provide the necessary reassurance and support to ensure that your Will accurately reflects your unique circumstances. More importantly, it also ensures that it's valid and enforceable.
Thankfully, risky Post Office Will Kits aren’t the only option for saving money and time on an estate plan.
Online Wills, like offered by Safewill, offer a middle ground between the simplicity of a Post Office kit and the personalised guidance of a lawyer. These online Wills are customised to your specific needs, and overseen by specialist lawyers to ensure your legal document is valid.
What's more, an online Will with Safewill is also easy to update- with free updates to your Will within the first year of purchase. This makes it easy to keep your Will reflective of changing life circumstances, and also provides the peace of mind your document is stored securely.
Write your Will with Safewill, and save money on a traditional lawyer without cutting corners on security for you, your estate and your family.