We all know that you can find “Do It Yourself” Wills online. We all know that it costs less money to do your own estate plan than to hire an attorney.
But… what if you press the wrong key when answering the prompts? What if you don’t know how to even answer the question in the prompt?
A few years ago, new clients asked me to review their DYI estate plan. On the bottom of each page in very small print were the words “Nebraska Law applies”. I asked my clients if they lived in Nebraska when they did their Wills. They NEVER lived in Nebraska!
Another client called to say her Durable Power of Attorney was refused by an insurance company. The Do It Yourself document did not include the language required to deal with insurance companies.
And, even more disastrous, was the client whose Will’s beneficiaries included a physically disabled adult child who was receiving federal benefits. These benefits would be lost as soon as the child inherited his rather modest bequest. Did these parents ever hear of a Special Needs Trust? No, the forms they used didn’t have such a provision.
So… remember the old line, penny wise, pound foolish? Do It Yourself documents are plain dangerous. The cost of using a good estate planning attorney could save you or your heirs much more.
Call the Law Offices of Debra G. Simms at 386.256.4882 to learn more.
This blog post is not case-specific and is provided only for educational purposes and is not intended to provide specific legal advice. Blog topics may or may not be updated and entries may be out-of-date at the time you view them.