With the increase in do-it-yourself television shows that illustrate to homeowners how to build their own furniture and make needed repairs around the home, our society has a do-it-yourself (DIY) mentality to save money. However, when applying this thought to estate planning, a one-size-fits-all plan doesn’t work for everyone.
Every year, many people create their own wills and other estate planning documents, as there are many companies that offer estate planning kits and forms that allow people to do it themselves. However, this money-savings approach can be costly down the line, as mistakes can be made.
When considering a DIY estate planning kit, consider if the template actually knows what your intentions are. Since the forms cannot ask you about your needs and wants, the kit most likely cannot draft your estate plan accurately. Only a licensed estate planning lawyer can do that, and most people need customized estate plans for their specific needs and situations.
A DIY estate plan cannot possibly account for every contingency like a Georgia estate planning attorney can. For example, there should be plans in place in case the father dies first or both parents should die at the same time. People who are skilled in this area of the law have this type of foresight and perspective; DIY kits do not.
When taking the steps to create an estate plan, consider the fact that a bad estate plan will not help your heirs after you are gone. Only a skilled estate planning professional will be able to account for nearly every possibility and create a thorough plan.
For help setting up your estate plan, call Shane Smith Law to speak with a Peachtree City estate planning lawyer at (770) 487-8999 today.