DIY Estate Planning Has Its Risks
It's always empowering when you take DIY projects on but baking a pie verses preparing estate planning documents are very different projects and one may involve more risky variables. There are online sites like LegalZoom and LegalNature for folks that don't want to shell out several hundreds of dollars to work with an estate-planning attorney. Now there are some risks to keep in mind especially if someone's financial situation is more complex or involves a legal insight.
Some things to ask yourself before you take on DIY Estate Planning:
How complex are your needs? DIY estate planning may work well for people with an uncomplicated estate. In the event of minor tweaks to an existing estate plan the DIY approach may be a perfectly fine solution.
How comfortable will you be if you missed something significant? It's difficult to get specific comprehensive advice online. Paying an expert for their knowledge means the attorney you hire will think of things that you may not have.
Are you inviting legal trouble? A lay person is more probable to make a mistake than an experienced lawyer when drafting a will, trust or power of attorney.
The Wall Street Journal Full Article: https://www.wsj.com/articles/diy-estate-planning-has-its-risks-1502071680
Read the article we wrote about Estate Administration. We can help you process the paperwork and itemize and prioritize tasks that must be accomplished. We can make sure things are done when they should be done and the way they should be done (and in the way the Clerk of Court will accept)! Let us relieve you of the stress of handling this probate process by yourself.