Although it may be tempting to go the do-it-yourself route and create an estate plan, it may not be your best decision to do so. In truth, while you may believe you are saving yourself time and money by using fill-in-the-blank legal forms, what can ultimately happen is you end up costing your loved ones more time and money down the road. That is why before you prepare a DIY estate planning document, consider some of the more common problems that can arise from this method.
Out-of-Date Regulations or Language
Many times, when individuals use DIY forms from the internet, they may not realize that these forms have not been updated in years. However, during this time, the applicable laws have changed, or specific forms have been altered to include new language. As a result, if a person does not realize these changes and uses an old form, the entire document can become worthless.
Not Incorporate State- Specific Requirements
A state’s laws can govern estate planning issues. Consequently, estate planning forms must be specific to the state in order for them to be valid. However, it is not uncommon to find many DIY forms that include generic information and do not meet state-specific considerations.
Improper Execution According To State Laws
It is important to follow state laws when creating estate planning forms to ensure their validity. However, DIY forms often lack proper guidance on executing these documents in accordance with state requirements.
Incomplete Distribution of the Estate
A frequent issue with DIY estate planning forms is that they may not fully distribute the estate. This can lead to assets being unintentionally left out of the plan, which can result in an intestate estate proceeding. Avoiding this issue is often the primary reason for creating an estate plan in the first place.
You Leave Your Family To Pay the Price of Creating a DIY Estate Plan
Most people create an estate plan to make sure their family and loved ones are taken care of in the future or if something happens to them. Unfortunately, the opposite will likely occur if you choose to use a DIY estate plan. Rather than protecting your loved ones, you leave them dealing with the consequences of not having proper documents or accurately submitted files.
Not only can this leave your family members spending a significant amount of time and money to fix these issues, but it can also cause a major family rift. That is why before you create your own estate plan, consider speaking to an experienced Northern Virginia estate planning lawyer to go over your legal options.
Contact Ardent Guardian To Create an Estate Plan That Works for You
If you would like further information about estate planning and what options are the best for you, contact Ardent Guardian to schedule your free consultation.
At Ardent Guardian, we provide specific packages tailored to your legal needs, ensuring you receive the services at prices that work for you. Reach out to us today to find out how we can help you plan for the future.
