Estate Planning Attorney Advice: Why You Should Avoid DIY Estate Planning
At the Davidson Law Group, we work closely with our clients to create an individual plan that meets all your needs. We understand that the security of assets and the wellbeing of the family following a death is important. Therefore, we strongly advise against DIY estate planning. While the concept of DIY might sound good at the moment, the long-term effects can be catastrophic if things are forgotten or mismanaged legally.
Here are a few reasons, Davidson Law Group recommends that you avoid DIY planning and choose a licensed estate planning attorney instead.
#1. A Small Mistake Is a Big Problem
When it comes to writing a will, there is plenty of legal jargon and loopholes to consider, which is why hiring an estate planning attorney is the best plan of action. A DIY estate kit includes all the basics, but even with research, there’s a possibility of misunderstanding information as you complete the forms.
Some Americans choose to see a lawyer following the completion of the DIY estate planning kit to save money on consultations. This helps with the information you fill in, but no errors in the base of the document itself. Working with an estate planning attorney means that you will use forms that he or she has written or worked with in the past, leaving less room for error.
#2. It Might Not be Legally-Binding
There are so many companies offering DIY estate planning these days that it’s nearly impossible to determine whether they are all legally-binding without the assistance of a lawyer. The company that drafts the forms you fill in to complete your will is not necessarily of legal background. Following a template, any company can create a product that resembles a will. This does not mean the document will hold up in a court of law, so be careful when selecting a DIY estate planning provider.
#3. Not Every Will is the Same
Estate planning kits are generally a one-size-fits-all type of product. They aren’t outfitted to include extreme or unusual circumstances that you may need to examine. Working directly with an estate planning attorney leaves room to add new and unique paragraphs to your will that you might have to abandon in a DIY pre-set form. Your attorney can also answer questions about these unique clauses or additions, which you would otherwise be left to learn about on your own.
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#4. An Estate Planning Attorney Knows State Laws
Many DIY estate planning kits come from online sources, which are available nationally, or sometimes, globally. Each state has its own unique set of laws that requires reflection and attention to detail. An estate planning attorney is privy to these laws and will be up-to-date on changes that have been made to state laws over the years. A pre-set form could reflect old laws or be outfitted for laws governing a different state or country, making portions of your will obsolete.
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Contact Davidson Law Group
If you’re interested in learning more about hiring an estate planning attorney or wish to speak to an attorney from the Davidson Law Group, contact us today. We understand that choosing an attorney to manage your estate is a daunting process, which is why we offer a free consultation with no strings attached. Call us in Fort Worth, Allen, or Tyler to learn more.