Avoid DIY Estate Planning!

by Althea B. Volper, Esq.

Creating your own estate plan online can be tempting as a convenient and cost-saving option.  There are many websites offering cheap (or free) estate planning documents.  Don’t do it!  These websites are no substitute for professional legal advice from a licensed, experienced estate planning attorney.  The risks of cutting corners on your estate plan far outweigh the savings.  There are many pitfalls associated with creating an estate plan yourself online.  For example, your do-it-yourself (DIY) estate plan may:

1. Fail to meet the legal requirements: Laws regarding Wills and other estate planning documents such as Powers of Attorney, Health Care Proxies and Advanced Directives vary from one state to another.  Using an online template may not ensure that your estate planning documents meet the legal requirements in your jurisdiction.
2. Contain ambiguity and errors: Websites offering online Wills and other estate planning documents rely on your inputting information to produce documents.  This means that any mistakes or unclear language that you enter becomes part of your legal document—this can lead to confusion, legal disputes, and even court intervention.
3. Lack customization: DIY estate planning websites often utilize one-size-fits-all templates, which fail to consider your and your family’s unique circumstances.
4. Lack professional legal advice: When preparing your own estate planning documents using an online interface, there may not even be a human reviewing your plan before it is produced, let alone an experienced legal professional.  Effective estate planning involves complex issues, such as asset protection for beneficiaries, tax implications, and guardianship arrangements.  An estate plan produced without professional legal review may contain errors or omissions that could have long-term consequences for you and your loved ones.
5. Lack privacy and security: We all know that online platforms can collect, store, or sell your personal information and data, including sensitive financial information and details about your family members.  Entering this information into an unsecured online platform runs the risk of this information falling into the wrong hands.

To avoid these pitfalls, consult our team of experienced estate planning attorneys to set up a complimentary consultation.

Our Estate Planning Attorneys can tailor a Trust to your family’s needs.   The first consultation is always free of charge.

If you have questions about your Estate Planning needs, our Attorneys are ready to assist you!