Artificial intelligence (AI) is working its way into our daily lives. While you can turn to something like ChatGPT to help you create vacation itineraries or write a thank you letter, a lot of people wonder if these AI systems can even help them with their legal needs, including creating an effective estate plan. Sure, one of these systems could generate estate-related documentation, but going this route can be extremely risky for you, your estate and your loved ones’ futures.
Why using AI for estate planning purposes is dangerous
There’s a lot that can go wrong during the estate planning process if you’re not careful. The use of AI can exacerbate these issues. Here are a few ways that AI might prove harmful to your estate planning efforts:
- It could miss nuances in state law, leaving your entire estate plan invalid for failing to meet legal requirements.
- The AI system will lack the capability to personalize your plan in a way that suits your needs and your vision of the future while taking into account the uniqueness of your family dynamics.
- The AI program might pull inaccurate information that it then relies upon in drafting your legal documentation.
- There might be seemingly minor misuse of certain terms that end up having a tremendous impact on asset distribution when the time comes.
- The AI system can’t be held accountable and really has no incentive to ensure that you develop the estate plan that’s right for you.
Don’t allow AI to ruin your estate plan
Today’s technology can prove beneficial in many facets of our lives, but you should cut some technologies, like AI, out of the preparation of your legal documentation. If you want to ensure that you have a solid and legally valid estate plan in place, then you should work closely with estate planning professionals to craft the legal documentation that meets your goals.