Estate Planning: Can I do it myself?
The Internet is a wonderful tool. There are many easily accessible forms and guidelines offered by a number of document service providers on the Internet which provide a “do it yourself” approach to creating your own Estate Plan. While “fill-in-the-blank” Wills and Trusts can be tempting and seem very easy (and potentially inexpensive) especially if you’re not sure where to start, the question then becomes is it a good idea really to do it yourself?
The obvious answer is “it depends”. Some might say that a “do-it-yourself” Estate Plan is better than nothing at all because it can provide your loved ones some guidance as to your wishes. This may well be true. However, if the choice is between a “do-it-yourself kit” and hiring a qualified attorney to create a thorough, customized Estate Plan, based upon current law in your state and based on your specific directions and needs, then an understanding of the law is required. You are almost always better served by working with an attorney who can provide you guidance through the process, answer your questions, and ensure that your Estate Plan is what you want it to be, what you need than hoping that it works.
I have looked at several DIY products on the Internet and even in some Box stores and they certainly seem to provide less expensive options. If you look carefully at what you are actually getting and the price, however, it appears that the savings may be actually costing you more in the long run. This is especially true, if the Will does not meet the Florida statutory requirements and your family ends up in Probate Court fighting over what you actually intended. What appears to be an immediate savings may cost you and your family in the long run. Fill in the blank services are generally thought to be helpful because they charge a standard rate for each document. Unfortunately, as a rule, no one “fill-in-the-blank” form is available to tell you how all the documents in your Estate Plan work together, should work together, how they have been changed, modified, and applied to your specific needs.
By contrast, most Estate Planning Attorneys create a complete Estate Plan that includes multiple documents, such as a Will, a Trust, a Healthcare Power of Attorney, a Durable Power of Attorney for Property, Beneficiary Deed, a Living Will or Healthcare Directive, a Pre-Need Determination for your children as well as other items. A blank box on a form cannot tell you how these all work for your specific need. At the Law Office of Greg D. Crosslin, we believe that affordable Estate Planning is necessary and is available. We simplified a Flat Fee Tier approach which allows you to pick what your needs are and provide you what you want! We have developed this approach to work in conjunction with your specific circumstances, desires and requests.
The shortcoming of a “Do It Yourself Estate Plan” is that you really are doing it yourself, by yourself and without legal guidance. Estate Planning requires you to address an array of questions, topics and circumstances, some of which you might not have considered before and requires you to make choices that affect not only your life, but the lives of those you love the most, your family and your friends. We believe you should do so with the guidance of someone trained in the law, who is able to help you make the best Estate Plan possible you can to carry out what you wish and to avoid pitfalls that may present themselves.
DYI Estate Planning
There are several DYI sites and one of the popular ones indicates that “we are not a law firm or a substitute “for an attorney” or law firm. We cannot provide any type of advice, explanation, opinion, or recommendation about possible legal rights, remedies, defenses, or explanations about possible legal rights, remedies, defenses, options, selections, forms or strategies.”
In other words, they cannot provide the guidance or legal advice that an experienced attorney should be able to offer you through the process of creating a customized Estate Plan that meets your specific needs.
You have people that use document Estate Planning Service tools virtually every day, so what’s the big deal? What can possibly go wrong as surely, they thought out all the issues? Right?
For starters, if you create a do it yourself Estate Plan and not just a Will and do not execute all documents with the formalities that are required by Florida law, the documents will not be deemed valid by a Court. Your plan may not work as you anticipated or wanted which creates a greater hardship for your family and/or those who are then charged with administrating your Estate. If your DIY Will is not done properly, the beneficiaries you thought would receive your property or their inheritance may not.
DIYers often talk about the simplicity of a system that allows them control. We believe the Estate Planning process should be simple and certainly not overwhelming. It is important to remember that “simple” is not always the right answer. After you pass, your loved ones or those who are in charge of administrating your Estate may not be able to put your plans into action and your beneficiaries may not be able to receive the bequeathal you thought you were giving if your simple DIY was defective.
We believe the wise choice is to work with someone able to advise you as to the law surrounding your specific circumstances, warn you about possible errors, as well as explain to you the various documents you need for your specific, customized Estate Plan.
With guidance from a qualified Estate Planning Attorney, you are getting the peace of mind necessary to carry out the most important aspects of your plan---your will and intentions. This also allows you to avoid hassle and excess costs for those who administer your Estate later. The goal of Estate Planning is to ensure that your loved ones are taken care of exactly the way you want them taken care of. Unfortunately, a DIY system may not accomplish this.
