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The dangers of self-help estate planning

by | May 16, 2019 | Estate Planning |

Self-help resources abound in our technological age. They can help you learn to do just about anything, from build a house to draw cartoons. Estate planning is no exception. Many online businesses offer cheap services to help individuals create wills, trusts, and powers of attorney. So, then, the question becomes whether or not it is worth it to seek out the assistance of an estate planning attorney when dealing with these matters.

The truth of the matter is that many people don’t know how to create an estate plan that will protect their assets and their loved ones in accordance with their wishes. Although self-help and do-it-yourself guides are cheap, they often include boilerplate language and limited options that likely won’t meet your unique needs.

Additionally, the statutory and case law of each state is different, and not all self-help resources take this into account. Therefore, you may end up creating a document that is not legally valid in your state.

Some self-help guides can help you aspire to accomplish tasks that will ultimately be ineffective if improperly completed.

Estate planning is not one of those processes. Even a seemingly minor mistake can lead to unwanted consequences that have far-reaching financial implications for loved ones. Also, successfully engaging in estate planning requires an individual to know precisely what he or she wants.

If they are unfamiliar with the law as it relates to estate planning, then it may be hard for them to make decisions because they do not have an adequate amount of information. This is why it can be helpful to work closely with an estate planning attorney.

Unlike do it yourself resources, a competent estate planning attorney can custom-tailor an estate plan to meet your needs. Whether you want to put specific conditions on the release of trust assets, or utilize a will to address issues related to a blended family, an estate planning attorney can help guide you confidently through the process.

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