Did you fix your dryer just by watching a DIY video on YouTube? Fantastic. Do you want to do the same with your will? Be careful! Even a small mistake can invalidate your entire document, leaving your beneficiaries in a legal nightmare. In fact, many DIY wills have failed in New Jersey courts. Here is why.
Ambiguous language
If you are preparing a DIY will using an online template, it might give you the boilerplate legal language. Unfortunately, that is not enough. Without a clear grasp of the nuances, things could backfire. You may omit critical terms or fail to name alternate executors.
Faulty execution
New Jersey courts take wills seriously and have strict requirements in place that have to be met before they deem any legal document valid. Before reviewing the written content of the document, a court might focus on the process of will execution. A small misstep during execution can lead to scrutiny by the judge.
For instance, the court expects the testator to sign the document in the presence of at least two witnesses, who must also sign it. If you fail to follow these exact signature protocols or if your witnesses happen to be one of the beneficiaries, the court may dismiss your entire will.
Lack of clarity in asset classification
Not all assets can be passed down through a will. Many people mistakenly include assets that already have designated beneficiaries, such as 401(k)s or life insurance policies. DIY wills frequently fail to distinguish between probate and non-probate assets. Furthermore, the lack of clarity regarding tax complications may lead to conflict during the execution of the will.
Don’t risk it
Unlike most other DIY projects, you may not always be around to fix a will if any issue arises later. A single technical error can invalidate your entire document, leaving your loved ones exposed to a costly courtroom battle. Do it right the first time by having a legal guide experienced in crafting an estate plan in your corner.