Why to avoid DIY estate litigation

| Oct 10, 2019 | Estate Litigation

The day will come when you need to meet with an attorney to create an estate plan. However, there are plenty of online services that allow you to create a will by yourself, and that is a mistake you do not want to make.

You never want there to be any errors in your estate plan. It is an important document that lays out who receives what once you pass. You want to make sure there are zero misunderstandings, so you never want to pursue DIY estate litigation.

You need to create more than a will

When many people hear “estate plan,” they automatically think of a will. While it is certainly an important component of an estate plan, it is not the only thing you should have. You may have assets that would be more appropriate to place in a trust. You also need to consider a living will and giving someone powers of attorney over you. At the end of it all, you may need up to nine different documents to fully encapsulate your estate.

You may end up paying more in the long run

A lot of people want a DIY estate plan because they think they will save money. However, this is a misconception. If you do not know how to accurately divide your assets, then your beneficiaries may end up paying a lot more in taxes, spending more for your shortsightedness. Making an estate plan is ultimately an investment; you need to put in the time, energy and money to adequately design one.

You want a second set of eyes

Unless you have years of law school under your belt, you may not know how to phrase certain items in your estate plan. It always helps to get a professional’s opinion. An attorney may let you know of a certain item you have left out. Fixing even one error makes it worth it to see a lawyer.