Back in 2012, the highly respected magazine Consumer Reports decided to embark on a mission. The consumer resource wanted to find out about the efficacy of do-it-yourself estate planning.
They decided to conduct an experiment. Magazine staffers used resources that are sold by three different major online sellers of generic, boilerplate legal documents. They created three different last wills using hypothetical circumstances, and they tried to be as effective as possible given the resources that were provided.
The magazine then enlisted the services of three different prominent legal professors. They asked the legal educators to examine the documents.
After scouring the do-it-yourself last wills, the professors expressed a number of concerns. They said that unintended consequences can come about if you use the downloads and worksheets that are offered by these companies.
Consumer Reports ultimately advised against do-it-yourself estate planning.
Technically, you can legally create an estate plan on your own, but whether or not it will actually lead to the fruition of your true wishes without any complications is anybody’s guess.
Plus, there is another factor to take into consideration. A last will is not your only option with regard to estate planning devices. In many cases, you would be better served if you use a trust of some kind, and there are trusts that are useful for people who are not millionaires.
If you take the matter into your own hands without a thorough understanding of the options that exist and why you may want to use one and not the other, you may make mistakes that your loved ones will be left behind to deal with after your passing.
Learn More About DIY Estate Planning
In this brief blog post, we have provided some basic food for thought. If you would like to obtain more detailed information about the dangerous of do-it-yourself estate planning, download our special report on the subject. This report goes into a great deal of detail, and it is being offered free of charge right now, so there are no risks involved.
To obtain your copy of the special report, visit this page and follow the simple instructions: The Dangers of DIY Estate Planning.
Schedule a No Obligation Consultation
People often look for shortcuts that will save them money, and in some cases, you can roll up your sleeves and tackle a do-it-yourself project effectively. At the same time, you have to know where to draw the line.
Arranging for the distribution of everything that you have accumulated throughout your life to people that you love the most is a rather profound endeavor. Planning your estate without professional guidance is risky at best.
If you would like to discuss your estate planning objectives with a licensed professional, contact us through this page to set up a no obligation consultation: Grand Forks ND Estate Planning Attorneys.
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