You may want to think twice about DIY estate planning

On Behalf of | Nov 16, 2017 | Estate Planning

Due to your sense of independence, you may enjoy doing a variety of activities and completing certain tasks on your own. As a result, you may have a fond place in your heart for do-it-yourself projects. Though many DIY alternatives can help you meet desired goals through less expensive means while also giving you a sense of accomplishment, doing everything yourself may not always work in your best interest.

One task that you may wish to think twice about before handling on your own is estate planning. Though many online sites and other options exist that allow you to complete forms on your own, these avenues mainly only offer surface benefits. Certainly, DIY planning may present a cheaper alternative when looked at simply, but it can also present issues that may prove costly later.

Ease of mistakes

You may believe that you could easily create your estate plan through DIY means by following provided instructions. While most sites do offer guidance on filling out the necessary forms, a wide margin for error exists. If your estate goes beyond the very simple, you may not find everything you need in the offered forms. Additionally, you could potentially misunderstand instructions and fill out information incorrectly. In such cases, your plan may not meet requirements.

Addressing mistakes

Often, mistakes made in estate plans do not reveal themselves until after the individual’s passing. As a result, if your DIY plan has issues, your surviving family could face numerous complications when it comes to addressing those mistakes. Though you may have chosen the DIY route in an effort to save money, your errors could end up costing your loved ones a considerable amount to fix.

Lack of legal input

One major issue that DIY estate plans present is that you do not have the ability to obtain legal advice. Though the programs or websites you use to create your plan may offer basic information, your informational needs may go beyond the simple explanations provided. Furthermore, you cannot gain personalized insight into what steps and options could most suit your planning needs.

Rather than putting your family and your estate at risk of complications, you may wish to consider a more formal alternative to DIY estate planning. Consulting with legal professionals could allow you to understand what specific tools may benefit your estate and allow you to have any questions you may have answered reliably.



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