Do-it-yourself (DIY) estate planning sounds like everything you’ve been looking for. You want to create an estate plan on your own terms, and you assume that this is the easiest way of doing so. While it’s an option that many people consider, there’s a lot that can go wrong. And if that happens, it puts you, your family, and your assets at risk in the future.
Here are three of the biggest drawbacks of DIY estate planning:
1. Lack of knowledge
No matter how much you read online, you’ll never know as much about estate planning as a qualified attorney. You can pick up on the basics, but when it comes to the finer details — such as state and federal estate planning laws — you’re likely to come up short.
There’s no replacement for the knowledge that an estate planning attorney can share.
2. No one to answer your questions
You’ll have one question after the next when creating an estate plan or altering what you already have. Neglecting to answer these questions will leave you with unnecessary anxiety about the future.
Without an attorney, the only way to answer your questions is through an online search. And while that may provide some information, you never know what to do with it or if it’s accurate.
3. Potential for mistakes
This goes along with points #1 and #2 above. A lack of knowledge increases the risk of a mistake. The same is true if you don’t have a professional to answer your questions and provide applicable guidance.
If you have estate planning needs and realize that a DIY approach is a mistake, contact our law firm online or via phone at (817) 899-3286. Our team is available to answer your questions and provide personalized service based on your specific wants and needs.