The Dangers of DIY Estate Planning

By Jenny Ling, Esq.

Estate planning is a smart step for everyone, regardless of income, health status, age, or marital status.  Everyone can benefit from having an estate plan in place.  You may assume that your estate plan shouldn’t be too complicated or that you only need a Will, so it would be okay to do it yourself.  Estate planning is serious business and there is a lot at stake.  DIY is great for some things, but estate planning is one task you should leave to the professionals.

DIY estate plans, like you may find from an online source, seem great – you can get this much needed task completed and hopefully save yourself some money.  But a poorly designed estate plan can lead to problems for your family – like probate expenses, adult guardianship, family infighting (and ruined relationships), having your estate plan rejected outright, and more.

You and your family are unique – and your estate plan should be too!  You should have an estate plan that is created with your family relationships, financial situation, and long-term goals in mind.  Some areas that a DIY estate plan might miss are planning for children with special needs, estate tax planning, and guardianship and planning for your minor children.

Even if you are able to find a plan by yourself, it still needs to be executed properly.  And an improperly executed estate plan is like having no plan at all.  Your family could spend a small fortune fighting to have your wishes honored.  An experienced estate planning attorney will help ensure that your estate plan is executed properly so there is no dispute about what your wishes are.

An experienced estate planning attorney can also make sure that after your estate plan is executed, the work is completed to make sure the plan will actually work for your family when the plan is needed.  As part of our planning, we provide detailed instructions regarding the retitling of assets and making sure beneficiary designations are aligned with our clients’ plan to ensure that family and loved ones don’t have to worry during an already difficult time.

At the end of the day, an estate plan is about making sure your wishes are followed and your family is taken care of once you have died.  While it may be tempting to save some money and do this yourself, making an estate plan is not easy – it requires numerous legal documents, including wills and trusts, and the possibility for mistakes is serious.  Finding someone to help you is the best option.

Estate planning attorneys do more than just draft documents.  We help guide you through the process of deciding the legacy you want to leave.  At The Law Offices of Jenny Ling, PLLC, we also offer a complimentary 3 year review for all our comprehensive estate plans so that your plan can grow with your life.  We also provide all our estate planning services on a flat fee basis so you never get a surprise bill.

If you are ready to Make a Plan that will work for your family, Contact Us to schedule your complimentary 15-minute phone consultation.

Jenny Ling is a partner at the Law Offices of Jenny Ling, PLLC.  She focuses her practices on estate planning, business succession planning, business and bankruptcy.