Mistakes of Do-it-Yourself Estate Planning
If you do some research on the Internet, you will find plenty of websites that say that you can do your own estate planning without having to pay a professional attorney. As a general rule, you should be wary of any kind of DIY legal service offered online that claims to give you the same results as a lawyer would give. In the case of estate planning, there are a lot of reasons why DIY estate planning is a big mistake.
You Need The Interaction
Successful estate planning consists of you and and a professional attorney discussing your situation and finding solutions through the synergy of your meeting. Since you are not a legal expert, it is impossible for you to get that same synergy with a website. While a DIY website will insist that they ask you a series of questions that will help you set up your estate, the truth is that it takes the knowledge and understanding of an attorney to take your information and make all of the right decisions with it.
Template Documents Are Not Enough
You want to give your brother power of attorney, but are you sure you want him to make all of your financial and contractual decisions? Did you know that you can split up your power of attorney based on certain tasks? The templates websites use are one-size-fits all solutions that do not allow you to make the custom changes you need to get the results you are looking for.
Who Checks Your Work?
It does not make sense that you would feel comfortable if something as important as your estate planning paperwork is reviewed by someone who has no legal training at all – you! A lawyer is essential in reviewing your paperwork to find any issues that need to be addressed and making sure all of the paperwork is properly completed. If you submit incomplete or improperly executed paperwork, then the probate court usually rejects your submission.
How Do You Maintain Your Estate?
The biggest mistake DIY estate planning websites make is selling you on the idea that your estate is done once it is completed. Generally, your estate needs to be reviewed annually by an attorney to be able to update your estate to match the changes in your life. An estate plan that is not updated every year could cause your family a lot of headaches when you pass away. This is especially true if you have remarried at least once since you did your original estate plan.
Our office has the caring professionals you need to make sure your estate planning is done right and that it is updated every year. Give us a call and let us explain how our estate planning attorneys can make sure that your estate is done right the first time.