At first glance, developing an estate plan may seem like a simple effort you can approach with a DIY attitude, but when you learn about what goes into one, you’ll quickly understand that it’s not as straightforward as it may initially seem.
A comprehensive estate plan doesn’t just include a will but also other documents like trusts, and there are specific legal requirements for estate plans to be valid in the first place.
With that in mind, even though a DIY estate plan can be tempting, it’s not usually in a person’s best interests to undertake the process all on their own. An estate planning attorney can provide much-needed guidance in creating a well-thought-out and compliant estate plan to protect yourself and your loved ones for the future.
A DIY Estate Plan Has Many Disadvantages
There are several things you can do yourself, of course, but establishing your estate plan shouldn’t be one of them. Plenty of thought and careful consideration go into suitable estate planning efforts, and forgoing the help of a qualified attorney can have several repercussions, including the following:
Errors and Mistakes
First and foremost, a DIY estate plan may contain multiple mistakes that can prove costly in the long run, as they may cause your documents to be rendered invalid when you or your loved ones need them most.
An estate planning attorney can stop mistakes before they even happen and help ensure your estate plan is created properly and error-free.
Non-Compliance With Legal Specifications
As alluded to above, estate planning documents must meet certain legal requirements to be deemed valid. For example, for a will to be valid, it must be in writing, signed by the testator, and witnessed by two disinterested adults.
You’re likely unaware of all of these legal requirements, which could mean trouble for the validity of your documents in the future. Having legal guidance from an attorney can help make sure your estate planning documents are completed correctly and eliminate potential headaches for you and your loved ones.
You May Not Know What You Need for Your Estate Plan
Estate plans are by no means a one-size-fits-all concept. Depending on your wants and needs, you may benefit from certain documents you may not be aware of without proper guidance. Having the right documents in your estate plan can help protect your future and your loved ones’ futures and give you the peace of mind you seek.
Do I need an attorney for estate planning?
While hiring an estate planning attorney is not a legal requirement, there are numerous advantages to doing so, as a lawyer has the skills and tools needed to create a legally sound estate plan. When you put the future of your estate plan into a lawyer’s hands, you take the stress and pressure off of you.
Crafting a Personalized Estate Plan With a Knowledgeable Estate Planning Attorney
Internet searches and family members can never provide the level of support and guidance you need to forge a proper estate plan, and choosing to pursue a DIY estate plan can truly cause more harm than good. It is within your best interests to turn to an experienced estate planning attorney, one who can take control and help you plan for the future.
An estate plan created by a skilled lawyer can meet all of your goals and then some, including the protection of your assets and providing for your family after your death. Estate planning attorneys know what questions to ask and what information to obtain to guide you in the right direction.
The Law Offices of Shaw & Nelson, PLLC, happily serves clients throughout Cincinnati, Ohio, and its surrounding areas. Contact our firm to schedule your consultation and get started on your estate plan today.