There may come a point when you realize that you don’t have an estate plan. Here’s the good news: it’s never too late to get started.
If you realize that you’ve waited too long, it’s easy to get ahead of yourself. And when you do that, you may immediately turn your attention to do it yourself (DIY) estate planning.
While this sounds like a fast and efficient way to create an estate plan, it’s fraught with peril. Here’s why:
- You’re on your own: Even if you use a service that claims to assist you with every step of the process, you won’t get the personal attention you want and need. That can lead you to make key decisions without the right guidance.
- Mistakes are more likely: Any mistake — even a minor one — can cause you and/or your family trouble down the line. Your estate plan should be mistake-free. It should meet your every requirement. With DIY estate planning, mistakes are more likely.
- You don’t know the laws: Every state has its own set of estate planning laws. Furthermore, this expands into other laws, such as those associated with probate and trust administration. If you don’t know these laws, you can’t create an estate plan accordingly.
If you’re considering DIY estate planning, take a step back. Compare the pros and cons to consulting with an experienced and knowledgeable estate planning attorney. You’ll soon find that you’re in better hands when you work directly with a qualified legal professional.
Tip: If you’ve created your own estate plan in the past, don’t hesitate to review what you currently have in place. There’s a good chance some updates are needed.
At our law firm, we’re here to help you with every aspect of estate planning. Don’t hesitate to contact us to set up a consultation.