Is Do-It-Yourself Estate Planning Effective?
You can purchase just about anything on the Internet, even do-it-yourself legal documents. Should you just fill in the blanks and create your own last will? After all, you will probably be saving money and of course everyone loves a bargain.
To find out the answer to questions such as these, you would do well to seek out recommendations from a trusted, objective source. Last year Consumer Reports magazine wanted to find out if DIY estate planning was in fact effective.
People on the magazine’s staff utilized the downloads and worksheets that are sold by three successful online purveyors of legal documents to create three different last wills.
They then engaged three legal educators who are affiliated with some of the top law schools in the country. These individuals placed the do-it-yourself last wills under the microscope.
As it turns out the professors could not recommend the do-it-yourself estate planning documents. Ultimately Consumer Reports advised readers to steer clear of DIY estate planning.
The Consumer Reports test revolved around last will documents, but it doesn’t tell the whole story. Yes, these DIY documents are sketchy, but to take it a step further, last wills are not the only estate planning documents that you should have in a comprehensive estate plan.
How is the typical layperson supposed to know exactly how to proceed given all the choices that are available? Sometimes using a simple will is not the right option, and by assuming so, you may be making a huge mistake that will cost your loved ones time and money after you pass away.
If you would like to delve into the subject a little bit deeper, we invite you to download our free report on DIY estate planning. Our special report takes an in-depth look at the dangers do-it-yourself wills and trusts.
To download the report simply take a moment to visit this page: Free DIY Estate Planning Report