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Should you use the internet for estate planning?

On Behalf of | Aug 19, 2020 | Estate Planning |

If you like to do things yourself, you might consider using an online resource to create your estate plan. While it is possible, it is probably not the best idea.

Estate planning mistakes can be costly

If you have bought clothes online, you will know it does not always go well. The stakes are much higher when creating your estate plan. Here are some of the reasons that you might prefer to do it in person:

  • One size does not fit all: A tailor-made suit will fit you better than one that you pick off the rail. While an attorney might not be any good at sewing, they can create an estate planning package perfectly fitted to your needs.
  • Online goods may have a fault: If the shirt you buy online has flaws, you can send it back. If an estate planning document has errors, it is unlikely anyone will notice until after you die, when your family is left to sort out the problem.
  • Things go out of date: While the laws governing estate planning do not go in and out of fashion, they do change occasionally. If you step out in last year’s colors, you might look dated. If you create your estate plan according to last year’s tax allowances, you could be lining your family up for a large tax bill.
  • What works in one place may not work in another: A coat you buy for Sacramento will not keep you warm in Alaska. Climate is not the only thing that changes between states. Laws change too. Estate planning documents you find online might not be valid in California.

Whether in clothing or estate planning, shopping online might appear cheaper, but it could cost you more in the long term.

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