Do-It-Yourself: Great for Small Repairs, Dangerous for Estate Planning
Learning estate planning is quite a bit different than learning to replace a spigot on You-Tube. With so much information available online today from learning home repair hacks and even publishing your own book, it is tempting to try to do this for yourself. Making an appointment to see an attorney is hardly at the top of anyone’s list. Yet, the DIY approach to estate planning can be very problematic. And, expensive.
Everyone’s family is different. Complicated assets, blended families, changes in laws are only a few of the complications that can send the best laid estate plan into a tailspin. Here are some reasons that the DIY approach is not the way to go with planning for your life savings and hard-earned assets for when you are still living and also when you have passed away.
Online Forms are Rarely Customized
Forms available through various public and for-profit outfits are typically generic. In order to create them so they can be used by the greater population, the verbiage is one size fits all. Let’s face it though, your life, your assets, your beneficiaries are NOT one size fits all. There may be special needs that must be met with specific verbiage and there are many, many different options that could benefit your family that no website will be able to educate you about. Custom planning could be required for your situation but you’ll never discover this through simply filling out a form online. You worked hard and saved for your retirement and your heirs, shouldn’t your plan reflect that same kind of care?
Laws Vary from State to State and Change Often
When you find a website that offers online forms for estate planning, you will not be sure they comply with the current laws. Plus, each state is different and it is possible you will make an expensive mistake. When you work with an experienced estate planning attorney, you will receive the most current information that applies to your specific situation. Plus, forming a relationship with a good attorney will help you to know when laws change and consequently require your plan’s verbiage to change as well.
You Could Give Away too Much Power Accidentally
There are several different types of Powers of Attorney in Arizona. Each of them address a specific need. However, if you do not have a full understanding of these and their different purposes, you COULD give away too much power if you should become incapacitated. What looks very straight forward at first, could be far more complicated and your intentions could be misunderstood.
When you have a serious repair such as a gas leak or an electrical short, you call a serious expert. When you have worked your whole life saving and preparing for your retirement, it is a time you also need a serious expert. Call us today at Keystone Law Firm to learn more about your estate plan or visit one of our upcoming FREE Seminars by registering here.