Trusted Southern Ohio Attorneys

Here are the dangers of do-it-yourself estate planning

On Behalf of | Mar 26, 2024 | Estate Planning

At first glance, the estate planning process might seem relatively simple. Some think that all you have to do is write on a piece of paper who you want to inherit your assets. But estate planning is much more involved than that, especially if you want your plan to suit your needs, fully protect your loved ones, and ensure asset longevity. So, before trying to create your estate plan on your own, you should be aware of the dangers of do-it-yourself estate planning.

The risks of trying to create an estate plan on your own

There are a lot of dangers associated with do-it-yourself estate planning. Here are some of the most significant:

  • Online templates often contain boilerplate language that may not meet the requirements of state law and may contain errors that render your estate planning documents invalid.
  • You might miss out on estate planning options that would be more beneficial to your estate and your loved ones.
  • A lack of clarity and ambiguity can lead to challenges in probate court that pit your loved ones against each another.
  • DIY estate planning may actually end up being more expensive when your estate has to pay to address legal challenges.
  • You won’t have assurances that your estate plan is created accurately and in a legally binding way.

Don’t put your estate plan at risk by making costly mistakes

A seemingly minor mistake can be devastating to your estate plan. And that can lead to familial infighting, expense to your estate, and asset distribution that you never wanted. To avoid that from happening to you, consider seeking out the professional guidance that you need to draft the effective estate plan you want.